Fat Finger Protection
The Fat Finger Protection for complex orders is based on the net price of the entire order relative to the SNBBO. Fat Finger Protection is available for all complex orders. Fat Finger checks are not applicable for any Multi-Class Spread instruments that only trade on the floor. However, Fat Finger checks are applicable for Multi-Class complex instruments containing only legs of underlying SPX as they are eligible for trading on the electronic book.
Complex orders will have the Exchange default Fat Finger settings applied if they are not set by the customer. The current Exchange default settings for EDGX, C2, and BZX are shown below as a function of limit price range (absolute value):
| Abs. Value Limit Price Range | Fat Finger % Default | Fat Finger Dollar-Based Limit Default |
|---|---|---|
| $0.00 - $1.99 | (none) | $0.50 |
| $2.00 - $5.00 | (none) | $0.75 |
| $5.01 - $10.00 | (none) | $1.00 |
| $10.01 - $20.00 | (none) | $1.50 |
| $20.01 - $50.00 | (none) | $2.00 |
| $50.01 - $100.00 | (none) | $3.00 |
| $100.01 & Above | 4% | Not Valid |
Customers have the ability to set more or less restrictive settings than the Exchange’s default settings.