Background:
This message refers to the orders which are transmitted that violate parameters established by the account holder through the configurable settings in the TWS. The account holder is able to establish precautionary settings in the TWS by navigating to the Order > Configure Order Presets menu.
This setting does not prevent orders from being submitted but rather controls when a warning message will appear indicating that the precautionary setting has been penetrated. Traders have the option to acknowledge this message and submit the order.
The Order > Configure Order Presets menu will open a window providing for the creation of price thresholds set in terms of percentage or the number of ticks outside the NBBO (settings may also be defined in terms of share/contract quantity or total dollar value of trade). When an order violating the account holder's parameters is transmitted, it will be rejected and a TWS pop-up window will be displayed with the following message. "The price specified would violate the percentage constraint specified in the default order setting. Do you really want to submit this order".
Traders may click Yes to override this warning and submit the order or No to cancel it.