47 6.2.4 Single Stock Circuit Breakers Single-stock circuit breakers are an important tool to help mitigate short-term volatility in the trading of individual stocks. Recent regulatory changes introduced single stock circuit breakers. This means that a five-minute halt of trading in a security will now automatically trigger across all Canadian marketplaces if the price of the security swings 10% or more within a five-minute period. Initially, SSCBs will apply to all securities included in the S&P/TSX Composite Index, as well as to those exchange-traded funds (ETFs) which are comprised principally of listed securities. All trades executed at more than 5% beyond the price that triggered the SSCB will be cancelled. 6.3 Order Markers All markets support markers required for regulatory purposes including: • Insider Account (IA) • Significant Shareholder (SS) 6.3.1 NCIB Marker Participating Organizations, when acting as a broker making purchases on behalf of a listed issuer pursuant to a normal course issuer bid, must comply with certain exchange requirements that are imposed on listed issuers. The NCIB marker is used to identify such orders. For more information on NCIB compliance, see the TSX Rule Book Part 6 – Division 5. 6.4 Account Types All three markets support the following account type markers: • NC – Non-Client • IN – Inventory • CL – Client • OT – Options Market Maker • BU – Bundled Order Designation TSX and TSX Alpha support the following account type markers: • ST - Specialist (RT) • OF - Options Firm • MP - ME Pro Order 6.5 Debentures TSX and TSXV support trading in debentures, while TSX Alpha does not. Debentures are traded in increments of $1,000 face value. Debentures are not assigned to RT’s / Odd Lot Dealers therefore odd lot debenture orders are not auto-executed.
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