41 14.2.8 Passive DRK Limit with a MinQty condition bypassed TSX Order Book Volume Bid Offer Volume Order 1 – 50000 (DRK) 10000 MinQty 10.01 Order 2 – 1000 (DRK) 100 MinQty 10.01 Order 3 – 100 10.00 A Sell DRK Limit MinQty order Volume 1000 with a MinQty 100 @$10.01 is entered. The Trading Engine determines that there is sufficient volume to satisfy the MinQty condition on the incoming order by Order # 2. In this case, the system will skip over order # 1 as its MinQty condition cannot be satisfied by the active order, and generate a trade with order # 2. 14.3 Conditional Order Interaction Scenarios 14.3.1 Pro-rata allocation for Firm-up to Firm-up orders execution Conditional Order Book Order Broker Volume Side Invitation? 1 A 40,000 Buy Yes 2 B 50,000 Buy Yes 3 C 75,000 Sell Yes Firm up orders from client Order 1 and 2 are eligible for an Invitation to Firm up and Buy Order 3 is eligible for an Invitation to Firm up and Sell. Resulting Order Book Order Broker Volume Side Market Instruction on the Firm-up order 1 A 40,000 Buy 01 2 B 50,000 Buy 01 3 C 75,000 Sell 01 Pro-rata allocations Orders 1 and 2 sends a Firmed up response for full Buy volume, market instruction = “01” and cancel residual volume Order 3 sends a Firmed up response for full sell volume, market instruction = “01”
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