6.5 Minimum Size Requirements of Certain Orders Entered on a Marketplace

    A Participant or Access Person shall not enter an order for the purchase or sale of a security on a marketplace if:

    1. the order is a Dark Order and the order does not exceed the number of units as designated from time to time by the Market Regulator for the purposes of this clause; or
    2. less than one standard trading unit of the order or such greater number of units as designated from time to time by the Market Regulator for the purposes of this clause will be displayed in a consolidated market display on the entry of the order on the marketplace and at any time prior to the full execution of the order.

    Defined Terms:

    NI 21-101 section 1.1 – “order”

    NI 21-101 section 1.4 – Interpretation -- “security”

    UMIR section 1.1 – “Access Person”, “consolidated market display”, “Dark Order”, “Market Regulator”, “marketplace”, “Participant” and “standard trading unit”

     

    There are no related Guidance/Notice documents available for this Rule.

    Regulatory History:

    On April 13, 2012, the applicable securities commissions approved an amendment, effective October 15, 2012, to add section 6.5.

    There is no history log for this rule.
    Part 1 - Definitions and Interpretation
    Part 2 - Abusive Trading
    Part 3 - Short Selling
    Part 4 - Frontrunning
    Part 5 - Best Execution Obligation
    Part 6 - Order Entry and Exposure
    Part 7 - Trading in a Marketplace
    Part 8 - Principal Trading
    Part 9 - Trading Halts, Delays and Suspensions
    Part 10 - Compliance
    Part 11 - Administration of UMIR