Can the exchanges bust trades?

T

tango29

Probably an ignorant question, but if an exchange has a glitch and trades go off way outside the general price range at that moment, do these exchanges bust those trades? Or if you get the price is it yours and nothing they can do about it? Curious how that is handled, and if there are rules in place.
Thanks
Edit just in case, I am asking specifically about the crypto exchanges, I know about the equity and future exchanges.
 
The exchange I worked for had no mechanism for busting a trade. Trade busts evolved from securities law and SEC execution requirements for market venues so you won't see the same for Crypto.
 
I'm not aware of anything that requires crypto exchanges to bust trades based on the price the trade happened at or anything else. If you put your order on the order book then assume it may get filled at your price. If you placed a market order and are unhappy then it was probably a liquidity issue which frequently produces odd prices on some crypto at times.

PS: Don't use market orders. They should just remove that option entirely. lol.
 
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