CME Globex provides extensive market integrity controls to ensure fair and efficient markets, including:
Messaging Controls - prevent excessive messaging rates.
Limits and Banding - ensure price integrity for all products traded on the platform.
Stop Logic - prevents excessive price movement caused by triggered Stop orders.
Velocity Logic - prevents unsound price movement by suspending a market or markets if an execution occurs outside a predefined point value within a predefined time period.
Market and Instrument States - control market and instrument availability and allowable order entry activity.
Automated iLink Port Closure - automatically logs out and closes primary and backup ports for any iLink session that exceeds the threshold of invalid Logon (tag 35=A) messages.
Protection Functionality for Market and Stop Orders - prevents Market and triggerd Stop orders from being filled at extreme prices.
Please view this video for an overview of the various market integrity controls: