[gpderetta]

You need to have a book in the first place though. If the instrument is highly illiquid the spread might be huge and the price have little real world relevance.

For liquid books, yes definitely I would expect these sort of checks (tipically against historical prices) to be in place.

[artursapek]

Uh yeah if you don't even have a reasonably liquid order book then yes your price action will suck no matter what lol