Order Persistence

Cboe offers Members a cancel on disconnect option. This automatically cancels the Member's orders on that session if they disconnect. Members have the option to persist only auction orders in Cboe Listed Securities through a session disconnect to ensure they participate in the auction even if their session is down.

In the event of a matching engine or order handler failure during an Opening, Closing, or Halt Auction the default behavior is to cancel all orders back to Members. In contrast, orders are persisted by default for IPO/New Issue Auctions. Each of these behaviors is configurable and controlled by setting at the session-level that may be updated upon Member request.