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.
Velocity Logic - mitigates 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 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.
CME Globex Market Segment Gateway Safeguards - when CME Globex detects an iLink message that spans more than one packet, CME Globex submits the message to additional processing.
Please view this video for an overview of the various market integrity controls: