46 ID Order Type Volume Bid Offer Volume Order Type ID C Dark Limit 700 MIS 1000 10.01 10.01 100 Dark Limit D A Displayed Limit 1000 10.00 10.00 800 Dark Limit E 10.01 1000 Displayed Limit B 14.3.10 Passive Dark Limit with MinQty using a One Tick Spread Dark Limit Order with Minimum Quantity (MIN) instruction rests in the book and trades with incoming orders. NBBO = (10.00, 10.01) ID Order Type Volume Bid Offer Volume Order Type ID A Displayed Limit 500 10.00 10.01 500 Displayed Limit B Action: Order C, Dark Limit Buy of 4500, MIN 900 @ 10.01 is entered. Order D, Dark Midpoint Peg Sell 800 @ 10.00 is entered. Order E, Dark Midpoint Peg Sell 500 @ 10.00 is entered. Result: Order C assigned: Limit Price 10.01 and Booked Price 10.005, MIN 900. Order D does not meet Order C’s MIN requirements. Order E enters the book; combined with Order D, meets Order C’s MIN requirements. Order D partially filled 800 shares of Order C @ 10.005. Order E partially filled 500 shares of Order C @ 10.005. Order C rests in the book: 3200 shares @ 10.005, MIS 900. Updated Book NBBO: (10.00, 10.01) ID Order Type Volume Bid Offer Volume Order Type ID C Dark Limit 900 MIN 4500 10.005 10.00 800 Midpoint Peg D C Dark Limit 900 MIN 3200 10.005 10.00 500 Midpoint Peg E A Displayed Limit 500 10.00 10.01 500 Displayed Limit B 14.3.11 Passive Dark Limit with MIS using a One-Tick Spread Dark Limit Order with Minimum Interaction Size (MIS) instruction rests in the book and trades with incoming orders. NBBO = (10.00, 10.01)
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