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CBOE Begins Order Price Reasonability Checks
February 21, 2013
[ by Howard Haykin ]
CBOE Trading Permit Holders ("TPHs") are advised that earlier this week - on Tuesday, 2/19/13 - the exchange began applying price reasonability checks to incoming orders. That means:
- any buy order that is received with a limit price exceeding the amount specified in Regulatory Circular 12-47, or
- any sell order that is received with a limit price lower than the amount specified in Reg Circ 12-47
- will be routed to the firm’s designated booth order management terminal to allow a price check to be done.
- Orders received before the product is in open state will be checked against the previous trading day’s closing price.
- Market Maker origin (M) and Away Market Maker origin (N) orders received pre-open are excluded from this reasonability check.
CBOE Contact: Direct questions to CBOE Help Desk at helpdesk@cboe.com and (866) 728-2263.
For further details, go to: [ CBOE Updated RegCirc 12-47, 2/15/13 ].
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