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.
Final 60 Minutes
Final Hour Start = Market Close - 60 minutesClosed 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.