TSX Dark Liquidity Guide

10. Disabling and Re-enabling DRK Orders 16 10.1 Disabling of DRK Orders 16 10.2 Re-enabling DRK Orders 17 10.2.1 Symbol level 17 10.2.2 Market level 17 11. Order Entry 17 12. Broadcast Feed 18 12.1 Reconciliation Feed 18 Table 2: Summary of Order Entry and Market Data Feed Specification Changes 18 Appendix A: Scenarios 23 1.0 DRK Trading Scenarios 23 1.0.1 Determining the price for a DRK Midpoint Peg trade 23 1.0.2 Reassigning the executable price of a DRK Midpoint Peg order 24 1.0.3 Assigning the executable price of a DRK Limit order 25 1.0.4 DRK Limit order’s executable price being reassigned due to Small Order bypassing the DRK Limit order 26 1.0.5 Small incoming order trading with a DRK Limit order at the NBBO 27 1.0.6 Determining the price for a DRK Minimum Price Improvement (MPI) Peg 28 1.0.7 Determining the price for a DRK MPI Peg – 1 tick spread 28 1.0.8 Determining the price for a DRK Primary Peg — passive offset 29 1.0.9 Determining the price for a DRK Primary Peg — aggressive offset 29 1.0.10 Determining the price for a DRK Market Peg (i) 30 1.0.11 Determining the price for a DRK Market Peg (ii) 30 1.0.12 Determining the price for a DRK Market Peg (iii) 31 1.0.13 CMO+ order bypassing non-CMO+ orders to trade against another resting CMO+ order 31 1.0.14 CMO+ Dark Sweep order trading against other DRK orders on entry 32 1.0.15 Resting CMO+ orders being bypassed by incoming non-CMO+ orders 32 2.0 MIN and MIS Scenarios 33 2.0.1 Scenario 1 – DRK Limit with MIS 33 2.0.2 Scenario 2 – Active orders eligible to interact with a Passive DRK Limit with MIS 33 2.0.3 Scenario 3 – DRK Limit with MIS matching with passive DRK order to satisfy MIS condition 34 2.0.4 Scenario 4 – Active DRK Limit order with MIS not eligible to trade with a passive visible order 34 2.0.5 Scenario 5 – Active DRK Limit order with MinQty not eligible to trade 35 2.0.6 Scenario 6 – Active DRK Limit order with MinQty eligible to trade 35 2.0.7 Scenario 7 – Active DRK Limit order with MinQty trading against a resting DRK Limit order with MinQty 36 2.0.8 Scenario 8 Passive DRK Limit with a MinQty condition bypassed 36