OTCPK:TOUBF - Post by User
Post by
loki69on Jun 17, 2011 6:46pm
584 Views
Post# 18731798
TSX after hours MOC trade rules
TSX after hours MOC trade rules1. Why did TSX Markets implement a Market
On Close (MOC) facility?
TSXMarkets implemented aMOC facility to:
• provide equal access and opportunity in setting the closing price;
• reduce volatility at the close;
• guarantee anonymity of broker numbers and volumes in the close.
2. Who can use TSX MOC?
TSX MOC is accessible to all Toronto Stock Exchange (TSX)
Participants and Sponsored Direct Access Participants.
3. Does my trade station support
TSX MOC functionality?
All trade station functionality questions should be directed to
your trade station vendor.
4. Do I have to use the TSX MOC facility?
No. The use of the TSX MOC facility is voluntary.
5. Do I have to use my broker to enter my MOC orders?
No. If you have sponsored direct market access you may enter
your own MOC orders.
6. What stocks participate in the TSXMOC facility?
All stocks included in the S&P/TSX Composite Index, the S&P/TSX
Global Gold Index, the S&P/TSX Global Mining Index and the
S&P/TSX Small Cap Index are MOC eligible. TMX Markets has the
ability to add and delete stocks as per request and as needed
from the TSX MOC facility.
7. What kind of orders can I put into the MOC book?
MOC market orders and limit orders can be entered into
the MOC book, subject to restrictions (see question below).
8. When can I put my orders into the MOC book?
MOC market orders can be entered into the MOC book from
7:00 a.m. to 3:40 p.m. Imbalance offsetting MOC limit orders can
be entered into the MOC book (if the symbol has an imbalance)
between 3:40 p.m. and 4:00 p.m. and potentially 4:00 p.m. to
4:10 p.m. (if the price movement extension is invoked).
9. Is there a minimum order size?
The minimum order size is one board lot (i.e. 100 shares).
10. Can I cancel or change former order (CFO)myMOC orders?
MOC market orders can only be cancelled prior to 3:40 p.m.
MOC limit orders can only be cancelled between 3:40 p.m.
and 4:00 p.m. MOC limit orders between 4:00 p.m. and 4:10 p.m.
(PME) cannot be CFO’d or cancelled.
11. Can I enter an anonymous MOC order?
Yes.
12. When is the last possible time that I can place a
MOC market order?
Youmay enter a Buy, Sell, CFO, or cancelMOC order up to 3:40 p.m.
At 3:40 p.m. theMOC book is locked forMOCmarket orders.
13. Do you publish a MOC imbalance?
A MOC imbalance is calculated and published to the trading
community at 3:40 p.m.
14. How is the MOC imbalance published?
TSXMarkets disseminatesMOC imbalance information at
3:40 p.m. and pricemovement extension information at 4:00 p.m.
on TMX.comand via the following data feeds: TBF, TL1, and TL2.
Display of thesemessagesmay vary fromvendor to vendor.
15. Why are only offsetting orders allowed during the
imbalance broadcast and blind offset session?
This session is intended to solicit offsetting liquidity. Limit
orders force market participants to enter their best price,
thereby promoting price discovery.
16. Will the offsetting MOC limit orders result in an
imbalance to be updated and rebroadcast?
No. Offsetting real-time as offsetting orders entered into the
MOC book have a limit price that may or may not trade when the
books are combined and therefore do not change the imbalance.