GREY:GYPHQ - Post by User
Post by
archimedes0070on Feb 08, 2011 8:58pm
158 Views
Post# 18098505
Iceberg
Icebergred911,
I learned something new: I did not know about the W marker. Thank you. The KW clearly indicates an iceberg order. However, only the broker (UBS) and their client knows what the hidden amount is. That is: this is the definition of an iceberg order. Even the TSX/V will not know the hidden amount. The exchange simply requires the W to indicate that it is an iceberg. The rules in the following link show that a minimum of 500 shares must be shown and the hidden amount does not receive any priority in the book. Basically, it is a standard iceberg order, and usually indicates institutional-sized trading. I would not be surprised to see some algos working in the GGN market soon, too. Apparently the offering will begin being sold on the 28th.
TSX Quick Reference Guide:
"ICEBERG: An order that replenishes the displayed order size as
executions are received. A minimum of 500 shares
must be displayed and only the disclosed volume
will have priority at the given price level."
www.tmx.com/en/pdf/TSX_QuickReferenceGuide.pdf
| W |
|
Regulatory Trade – indicating the "hidden" or iceberg portion of the order was not satisfied. Depending on whether the trade was used to move the price down in accordance with UMIR, or the ByPass Cross was put up, it may or may not set the last sale price. Please use the K marker to determine the last sale price. They are also included in the volume, value, and number of transactions. |
https://www.stockwatch.com/stocks/stocks_helper.aspx?menu=yes