TSX Market Making Program Guide

TSX Market Making Program Guide Entering the Program TMX Group Page 10 2.7.2 Single Market Maker Replacement Where a single Market Maker is removed from an existing assignment, the existing Stock Level Performance Obligations remain unchanged and the individual open assignment is awarded to another firm according to the following process: 1) TSX notifies Market Makers of the availability of the open assignment and the existing stock level performance targets, and the Market Makers are invited to bid for the open assignment. 2) Since the stock level performance target is already established, TSX awards the open assignment according to but not limited to the tie-break criteria in section 2.7.1(3)(b-d), and may also award in a manner to normalize anomalies in a firm’s required Tier B ratios, and/or Tier Concentration Limits.