Order Types and Functionality Guide

25 Example: Self Trade Prevention on TMX Assume the CLOB is as follows: BID OFFER Broker Quantity Price Price Quantity Broker A “BAYS9” 100 10.00 10.02 400 B B 100 9.99 10.02 100 C 10.02 200 A “ABCDT” 10.03 200 B “BAYS9” If an incoming order from Broker A with Unique Key “ABCDT” to buy 100 shares @ MKT is entered, then based on Price/Broker/Time priority, the trading engine seeks the opposing Broker A order @ $10.02 first, however since the Unique Keys match, the entire active order would be rejected. If an incoming order from Broker A with Unique Key “BAYS9” to buy 500 shares @ MKT is entered. Based on Price/Broker/Time priority, the trading engine again seeks the opposing Broker A order first, and since the keys do not match, it trades 200 @ $10.02. After orders with broker priority are exhausted, time priority allocates the remaining volume of 300 @ $10.02 against Broker B. 3.6.2 Self-Trade Management Self-Trade Management is available on TSX, TSXV and TSX Alpha. Self-Trade Management is an optional trading feature that suppresses trades from the public feed where orders on both sides of the trade are from the same broker and contain the same “self-trade key” defined by the broker. When a self-trade occurs, the order in the book appears on the public feed as a cancelled or updated order, and no trade report is published. The trade is, however, reported to CDS. As these trades are suppressed from the public realm, the trades do not update the LSP, or any trading statistics such as daily volume and turnover. Self-Trade Management is applied during the MOC session and the Continuous Trading session only. Mixed lot and odd lot volumes are allowed but the self-trade prevention is applied only to the board lot portion of the order. Keys may be alpha numeric (any combination of letters and numbers). It does not impact a broker if another broker uses the same key. Please note that Self-Trade Management and Self-Trade Prevention order features do not interact with each other. If an order with Self-Trade Management matches against an order with Self-Trade Prevention, the trade will be executed, even if both orders have matching self-trade keys, but the trade will not be displayed on the public tape. Example: Self Trade Management BID OFFER Broker Quantity Price Price Quantity Broker A “BAYS9” 100 10.00 10.02 400 B B 100 9.99 10.02 100 C 10.02 200 A “ABCDT” 10.03 200 B “BAYS9”

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