18 6.4 DRK Orders and the Closing Auction DRK Limit orders sitting in the book are eligible to be brought into, and trade, in the closing auction at 4 p.m. (or 4:10 p.m. in the event of a price movement extension). Any DRK Limit orders priced more aggressively than the same side TBBO, will be repriced to the same side TBBO immediately prior to the closing auction. DRK Limit orders will be matched second last in priority at a given price level; after any Market on Close (MOC), Limit on Close (LOC), or lit orders, but before any Closing Offset (CO) orders. 6.4.1 DRK order Tag Combinations The following order attribute values are not be permitted on DRK orders: ORDER ATTRIBUTES Unauthorized Value Price MBF Volume Odd Lot* Bypass Y Item Number - ORDER ATTRIBUTES Unauthorized Value MGF Candidate Y MOC Y Non Resident Y Settlement Terms “Cash”, “CT”, “Date”, “MS”, “MN” 7. Assigning the Limit Price & Executable Price to DRK Orders 7.1 Assigning a Limit Price to a DRK order All DRK orders may be submitted with a limit or market price. The system will retain the limit price of the order and ensure that the order will not execute outside of that limit price. Aggressive limit orders and market priced orders will have a capped limit price assigned by the trading system based on the bid/ask tick limit for that symbol and price level. The bid/ask tick limit is a TMX Market Quality safeguard that prevents Market or Better Price Limit orders from trading deep into the book, and thus causing large anomalous price swings. The bid/ask tick limit is currently applied to both visible and DRK orders.
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