Display Indicator Features

Orders are eligible for all of the sliding features described below. Quotes are eligible for the sliding behaviors described below if they are received with a price that locks the NBBO and with a PostingInstruction eligible for price sliding. Quotes that also cross the NBBO or displayed Cboe book will be accepted if within a configurable buffer range through the NBBO or displayed Cboe book. The buffer is set to 5% with a minimum of $0.05 and a maximum of $1.00.

Price Adjust (C1, C2, and EDGX Only)

If the limit price of an order does not lock or cross the NBBO, then the order will be ranked and displayed at the nearest permissible quoting increment.

If the limit price of a Price Adjust eligible order locks or crosses the NBBO, the limit price will be adjusted on entry to the locking price of the NBBO, while the displayed price and ranked price will be temporarily adjusted to the nearest permissible quoting increment. Price Adjust orders will never be ranked at the locking price or at a non-displayable price increment. If the NBBO widens, the displayed price and ranked price will be readjusted to the adjusted limit price.

The limit price of a Multiple Price Adjust order will not be permanently adjusted on entry if the limit price crosses the NBBO. The displayed price and ranked price will be the nearest permissible quoting increment and will be adjusted towards the original limit price based on changes in the prevailing NBBO.