2. Error-prevention alerts
The purpose of requiring Trading Members to have error prevention alerts is to give Trading Members the opportunity to review the order and confirm its accuracy before it is transmitted to the Trading System for matching.
The types of error-prevention alerts to be made available may include but are not limited to the following:(a) maximum quantity per order — to alert Trading Representatives and customers of possible erroneous entries in relation to quantity; and(b) price alerts — to alert Trading Representatives and customers of possible erroneous entries in relation to price.
Price alerts. Price alerts should trigger when the order price is far away from the prevailing market price in that it deviates by:(a) a certain percentage; or(b) a certain number of ticks,
as compared to the prevailing market price. The prevailing market price may be the last traded price, the previous settlement price, the closing price or the opening price, as appropriate.
Order size alerts. Order size alerts should trigger when the order size exceeds a pre-set threshold. The threshold may be set in terms of quantity or value of an order.