31 BID OFFER Order # Quantity Price Price Quantity Order # 001 100 10.00 10.02 400 003 002 100 9.99 10.02 100 004 4.7 On-Stop Orders A contingent limit priced order that remains undisclosed until its limit price is triggered at which time it becomes a displayed limit order in the CLOB. • An undisclosed On-Stop sell order is triggered when the LSP of the same marketplace trades down to or through the limit specified on the On-Stop order. • An undisclosed On-Stop buy order is triggered when the LSP of the same marketplace trades up to or through the limit specified on the On-Stop order. Once triggered the On-Stop order will trade in the CLOB subject to its limit with any untraded volume fully displayed at its limit price. On-Stop orders are accepted on TSX, TSX Venture and TSX Alpha. Example: On-Stop Orders Assume the CLOB is as follows: BID OFFER Order # Quantity Price Price Quantity Order # 001 1,000 10.00 10.20 1000 002 003 500 9.90 004 On-Stop (hidden) 1,000 9.90 005 1,000 9.80 An incoming order (Order 006) to sell 1,500 shares @ $9.90 is entered, the following trades occur: BUYER ORDER # Seller Order # Quantity Price 001 006 1,000 10.00 003 006 500 9.90
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