TSX Dark Liquidity Guide

35 2.0.5 Scenario 5 – Active DRK Limit order with MinQty not eligible to trade TSX Order Book Volume Bid Offer Volume 100 (Dark) 10.02 10.10 100 100 (Visible) 10.01 10.10 500 100 (Dark) 10.01 200 (Dark) 10.01 200 (Dark) 10.01 100 (Visible) 10.00 A Sell DRK Limit MinQty order Volume 5000, MinQty 1000 @$10.00 is entered. The Trading Engine determines that there is not sufficient volume to satisfy the MinQty condition on the incoming order. In this case, the order will be booked at a price that will prevent it from locking or crossing the TBBO. The order will book at 10.02. The cap price = limit price on the order. 2.0.6 Scenario 6 – Active DRK Limit order with MinQty eligible to trade TSX Order Book Volume Bid Offer Volume Order # 1 100 (Dark) 10.02 10.10 100 Order # 2 100 (Visible) 10.01 10.10 500 Order # 3 100 (Dark) 10.01 Order # 4 200 (Dark) 10.01 Order # 5 200 (Dark) 10.01 Order # 6 100 (Visible) 10.00 A Sell DRK Limit MinQty order Volume 5000, MinQty 500 @$10.01 is entered. The Trading Engine determines that there is sufficient volume to satisfy the MinQty condition on the incoming order. In this case, the system will aggregate the passive Orders # 1 – 5 to satisfy the MinQty condition.