http://www.cme.com/abt/news/increaselimits5665.html CME to Increase Order Entry Quantity Limits for GLOBEXÂ® Equity Index Trades Order Size to Increase from 250 to 400 Contracts CHICAGO, Dec. 19, 2003âChicago Mercantile Exchange Inc. (CME) announced it will increase its order quantity limit on all electronically traded equity index futures contracts to 400 contracts from the current 250 contracts. The new order size cap will become effective Feb. 1, 2004 for trades dated Feb. 2, 2004. The new order limit size will apply to all equity index products traded on CMEâs GLOBEXÂ® electronic trading platform, including all full-size equity index contracts and E-miniTM products. The order size increase does not apply to CMEâs non-traditional TRAKRSSM futures products. CME previously increased the size of its order limits in May 2001. Since then volume in CMEâs equity index products has increased 138 percent, totaling over 19.2 million contracts in November. While there are no limits on overall order size in equity index futures, orders greater than 400 contracts must be entered as multiple entries of 400 contracts or less. Order limits were established to help prevent erroneous orders from being entered into the GLOBEX system and to protect customers from keyboard errors. Since order limits were last increased, CME has made additional enhancements to its GLOBEX system to prevent or minimize the impact of erroneously entered orders, including new stop logic functionality implemented earlier this year. âThis change was made in response to numerous requests from our customers and should enhance their order entry efficiency on CMEâs GLOBEX platform,â said Rick Redding, CME managing director for equities. CME maintains an error trade policy for electronically traded products which allows the exchange to cancel, or âbustâ erroneous or disputed trades under specified circumstances. Additionally, CMEâs equity index products have set price limits, adjusted quarterly and coordinated with limits in cash equity markets, to prevent trades below specified prices.