TSX Dark Liquidity Guide

36 2.0.7 Scenario 7 – Active DRK Limit order with MinQty trading against a resting DRK Limit order with MinQty TSX Order Book Volume Bid Offer Volume Order # 1 500 (Visible) 10.01 10.10 500 Order # 2 5000 (Dark) 500 MinQty 10.01 Order # 3 500 (Dark) 10.01 Order # 4 100 10.00 A Sell DRK Limit MinQty order Volume 50000, MinQty 5000 @$10.01 is entered. The Trading Engine determines that there is sufficient volume to satisfy the MinQty condition on the incoming order, as well as satisfy the MinQty condition on the passive orders. In this case, the system will aggregate the passive Orders # 1 – 3 to satisfy the MinQty condition. 2.0.8 Scenario 8 – Passive DRK Limit with a MinQty condition bypassed TSX Order Book Volume Bid Offer Volume Order # 1 50000 (Dark) 10000 MinQty 10.01 Order # 2 1000 (Dark) 100 MinQty 10.01 Order # 3 100 10.00 A Sell DRK Limit MinQty order Volume 1000 with a MinQty 100 @$10.01 is entered. The Trading Engine determines that there is sufficient volume to satisfy the MinQty condition on the incoming order by Order # 2. In this case, the system will skip over order # 1 as its MinQty condition cannot be satisfied by the active order, and generate a trade with order # 2.