45 Section 6 Other Features 6.1 Minimum Ticks 6.1.1 Standard Trading Units Standard trading units are based on the security’s previous day per-share closing price on TSX or TSXV: SECURITIES CLOSING PRICE Standard Trading Units (Boards Lots) $1 and up 100 shares $0.10 and less than $1 500 shares Under $0.10 1,000 shares Convertible Debentures $1,000 face value NOTE: For TSX Alpha the trading unit is set based on the TSX or TSXV closing price. Odd Lots Orders with volume less than a standard trading unit are considered an odd lot and do not trade in the regular CLOB. On TSX, TSXV and TSX Alpha, either Registered Traders (RT) or Odd Lot Dealers (OLD) perform auto execution of odd lots. The RT/ OLD automatically guarantees a complete fill at the Protected N88O price for Odd Lot orders priced at or better than the opposite side’s Protected N88O market price. Note: Odd Lot orders on TSX Alpha will be filled by the OLD at the better of the Protected N88O and the TSX Alpha 880. If the odd lot order’s price is not marketable (or if there is no RT/OLD) the odd lot order is displayed in the odd lot book and is eligible to trade continuously at its limit price (without regard to the CLOB price) and will trade at that price if an opposite side odd lot order is entered with the exact same volume priced at or better than the resting odd lot order’s price. Odd lots only trade as “Fill or Kill” which means partial fills are not accepted. It is possible for the odd lot book to display orders with overlapping prices when resting odd lot orders can match on price but not on volume. Mixed Lots An order that is mixed (with both a board lot and odd lot portion) is effectively split into two separate orders at the time of entry. The board lot portion trades normally in the CLOB and the odd lot portion is treated as an odd lot order. 6.1.2 Standard Trading Price Increments Standard Trading Price Increments are based on the order’s price level: SECURITY PRICE LEVEL Standard Trading Price Per Share (Cents) $0.005 - $0.495/share $0.005 $0.50 and above $0.01
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