Controls

Nasdaq Canada offers a variety of tools to help market participants manage risk.

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Canadian Equities | Trading

CONTROLS

PRICE LIMIT
Price limits are determined by a band calculated as a percentage of value from the national last sale price and the national last sale price at one minute intervals. These settings are predefined at the exchange level in accordance with IIROC's Marketplace Thresholds


SHARE LIMIT
Share limits provide Members with the ability to set a maximum number of shares permitted per order. When an order is entered with a share amount that exceeds this limit, the order will be rejected.


NOTIONAL LIMIT
Notional limit provide Members with the ability to set the maximum notional value per order. The notional value of a trade is calculated by the number of shares multiplied by the price of the security. When an order is entered with a notional value above this set limit, the order will be rejected.


CANCEL ON DISCONNECT
In the event the FIX session between Nasdaq Canada and a client is disconnected, Nasdaq Canada will cancel all open orders.


NO SELF TRADE
This feature is enabled on a Trader ID basis and will prevent the Trader ID from trading with itself. The active order will be cancelled back.


SELF-TRADE PREVENTION - CANCEL NEWEST
This feature will prevent a new order from trading against a resting order. The incoming order will be cancelled and the resting order will remain on the Nasdaq Canada book.


SELF-TRADE PREVENTION - CANCEL OLDEST
This feature will prevent an incoming order from trading against a resting order. The resting order will be cancelled and the incoming order will remain on the Nasdaq Canada book.


SELF-TRADE PREVENTION - CANCEL AND DECREMENT
This feature will prevent a new order from trading against a resting order. The larger order will be decremented by the quantity of the smaller order and the remaining balance will rest on the Nasdaq Canada book. If both orders are the same size, they will be cancelled back.

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