Order Types and Functionality Guide

41 If an incoming client order (Order 003) to sell 1,000 shares@ MKT is entered, then since the order size is greater than the MGF size of 500 plus the size of the best bid of 100 (600 shares total), the order is MGF-ineligible and a trade will occur against the available resting CLOB liquidity without any guaranteed fill from the RT, the following trades will occur: BUYER ORDER # Seller Order # Quantity Price 001 003 100 10.00 The remaining 900 volume will be booked at the last sale price of $10.00 Resulting CLOB: BID OFFER Order # Quantity Price Price Quantity Order # 10.00 900 003 10.02 400 002 Example 2: MGF Size Assume the CLOB is as follows: RT: AVGJOE MGF: 500 BID OFFER Order # Quantity Price Price Quantity Order # 001 100 10.00 10.02 400 002 Alternatively, if an incoming client order (Order 003) to sell 600 shares @ MKT is entered, then since the order size is less than or equal to the MGF size of 500 plus the size of the best bid of 100 (600 shares total), the order is MGFeligible and there is not enough resting liquidity to fully fill the client order, a guaranteed fill from the RT will occur for the balance of the order. The following trades will occur: BUYER ORDER # Seller Order # Quantity Price 001 003 100 10.00 RT 003 500 10.00 The remaining 900 volume will be booked at the last sale price of $10.00. Resulting CLOB: BID OFFER Order # Quantity Price Price Quantity Order # 10.02 400 002

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