Duplicative Order Protection

Duplicative Order Protection provides customers with the ability to prevent consecutive duplicative orders where orders clearing the same EFID/MPID that have the same Side (Buy or not), Price, Quantity, and Symbol have been entered. Customers may set the following:

• the number of consecutive duplicate orders required to trigger the risk control on a specific port, and
• the action when encountered (reject offending orders or disable port).

When configuring the number of consecutive duplicate orders, setting the parameter to zero effectively turns off the Duplicative Order Protection check for a port. The Duplicative Order check compares each new order to the previous order sent. No time parameter is included.

If Disable Port is selected, ALL new orders received on the port for the EFID/MPID will be rejected until a request is submitted to the Trade Desk to reset the risk control on the port for the EFID/MPID. Cancels will continue to be processed for orders accepted prior to tripping the Duplicative Order Protection check.

Example: If a customer sets the number of orders to ten (10), the system will compare each new order against the previous order sent. The system will take the defined action (reject or disable the port) when 10 or more duplicate orders have been sent in a row.

Duplicative Order Protection checks are only performed at the individual session level.