Price Banding

Price banding is a mechanism which subjects all orders to price validation and rejects orders outside the given band to maintain orderly markets. Bands are calculated dynamically for each product based on the last price, plus or minus a fixed band value. Thus, if markets quickly move in one direction, the price bands dynamically adjust to accommodate new trading ranges. The band is set per product and set in ticks and the current price bands can be found here. Coinbase Derivatives market operations group can increase price bands to allow price discovery during volatile markets.