The India International Bullion Exchange (IIBX) on February 05, 2025, issued a circular regarding Protection from Erroneous Orders.
The following has been stated: -
•The Exchange has noticed an increase in erroneous orders and trade annulment requests. Members are advised to implement proper mechanisms and controls to prevent such errors, including precautions and alerts on trading terminals.
•The Price Protection feature on the Bullion on Web (BOW) terminal is recommended to help avoid errors by setting percentage limits for buy and sell orders based on the Last Trade Price.
•Dealers will receive warning messages if the configured limits are breached. A detailed procedure for configuring the feature is provided in the Annexure.
[Circular No. 20250205-1]
