38 4.13.8 Contingent Cross Procedure for Contingent Option Trade If a person seeks to enter an order on TSX for a security which is contingent upon the execution of one or more trades in an options market, the following rules shall apply: A. The trade in the security and the offsetting option trades must be for the same account; B. The option component must be executed on the Montreal Exchange with a reference price within the daily high and low of the underlying security; C. Upon the execution of the option component of the contingent option trade on the Montreal Exchange, the equities component will be communicated to TSX via an established session between TSX and the Montreal Exchange; D. The trade in the equities component must be within the daily high and low on the day, but may be executed outside of the Protected NBBO; and E. The trade in the security executed as a special terms trade with the marker “MS”. F. 4.14 Order Features 4.14.1 TSX Alpha Order Processing Delay New orders, order amendments and order cancels entered without an explicit post only instruction will incur a delay 1 millisecond prior to TSX Alpha processing the order. Post only orders that do not incur the processing delay will be subject to a minimum volume requirement on the order to encourage sizable liquidity provision. Conditions under which TSX Alpha will accept Post Only orders are described in section 3.4 Post Only. 4.14.2 Minimum Guaranteed Fill (MGF) See section 5.1.2 Minimum Guaranteed Fill (MGF) Size. 4.14.3 Buy-ins In order to support CDS in cases where a seller has failed to deliver a security following a trade, TSX has developed a special “Buy-In” facility to locate alternate sellers capable of immediately delivering the security, therefore enabling CDS to quickly and efficiently clear the failed position. Buy-In Procedures: On a daily basis, CDS provides a list of securities that Participating Organizations have failed to make delivery on. TIME (ET) Procedures 1:30 PM (1st Cycle) TSX receives and posts the preliminary Buy-In list. At this point, other Participating Organizations have the opportunity to provide liquidity by submitting Buy-In orders. 2:45 PM (2nd Cycle) TSX receives and posts the Final Buy-In list. This list identifies the remaining securities that still need to be delivered. 3:00 PM Cut-off for accepting Buy-In orders.
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