Funari orders placed before the end of the morning session are treated as limit orders at the time of placement. If they are not executed during the morning session, any reductions or cancellations in quote quantities due to execution or invalidation are distributed.
Funari orders placed after the start of the afternoon order acceptance are treated as limit orders at the time of placement. If they are not executed during the afternoon session, they are distributed as market orders at the start of Pre-Closing. Reductions or cancellations in quote quantities due to execution or invalidation at the end of the afternoon session are distributed.
Please note that there is no way to distinguish, based on the QM tag (aggregate market order information) distributed during Pre-Closing, whether the orders originated from Funari orders or orders with closing conditions.