TSX Market Making Program Guide Responsibilities of Market Makers TMX Group Page 20 Where unequal contributions exceed a 40-60% relative ratio, these measurements are utilized to determine the proportionate Market Maker fee incentives on a symbol basis. A visual representation of the fee application is as follows: For more information, please refer to the Trading Fee Schedule on the TSX website. 3.2.3 Underperformance by a Single Market Maker A single MM may be removed from the assignment when they have: 3 consecutive months of 20% or less Contribution Score, or 4 months of 20% or less Contribution Score in the past 12 month period, or 3 underperforming months on a symbol level in the past 12 month period as detailed in Section 3.2.4 below, or Performed in a manner that may be otherwise deemed unsatisfactory at TSX discretion In this case, the Market Maker is replaced in accordance with the policy detailed in Section 2.7.2 Single Market Maker Replacement.
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