Market Clock

Crypto markets operate continuously. Equity markets do not. VESPER explicitly accounts for this difference.

Session Clock

A dedicated Session Clock provides market-state information to LAST LIGHT, the hook: active session, final hour, close, or outside an active trading day.

Reading the clock

Tue Sep 15

04:0009:3016:0020:00

• Pre-market
• Open
• Last light
• After the close
• Closed

The next seven weekdays

Tue Sep 15	09:30 to 16:00
Wed Sep 16	09:30 to 16:00
Thu Sep 17	09:30 to 16:00
Fri Sep 18	09:30 to 16:00
Mon Sep 21	09:30 to 16:00
Tue Sep 22	09:30 to 16:00
Wed Sep 23	09:30 to 16:00

Final 60 Minutes

Final Hour Start = Market Close - 60 minutes

Closed Markets

When the reference equity market is closed, final-hour logic is inactive, including weekends and configured closed-session periods.

Reserve Valuation

When fresh underlying-market pricing is unavailable, VESPER can reference the most recent valid market price. The interface should clearly expose the valuation state, for example As of last close.

A tokenized equity can remain transferable onchain even when its underlying reference market is closed. VESPER does not pretend those markets operate on identical clocks.