Erroneous Trade & Trade Amendment Policy
In the event that a Participating Organization, Member or Subscriber executes an order in error ("erroneous trade") on TSX, TSXV or TSXA, the Participating Organization, Member or Subscriber is asked to contact the TMX Trading Services desk. The Trading Services desk may, upon request of the Participating Organization, Member, or Subscriber contact the other party to the trade to request cancellation of the trade. Both parties to the trade must agree to the trade cancellation or they may elect to contact IIROC for assistance.
In the event of a technical, systems, or access problem that, in the view of TSX, TSXV or TSXA, has substantially impaired or impacted access or trading, TSX, TSXV or TSXA, as the case may be, has the discretion to cancel an impacted trade without the consent of both parties and will notify IIROC promptly of the decision. Otherwise, TSX, TSXV or TSXA will not unilaterally cancel a trade without the consent of both parties and without consultation with, and approval of, IIROC.
In the event that a cross in which a Participating Organization, Member or Subscriber requests an amendment to price and/or quantity, the Participating Organization, Member or Subscriber must contact IIROC for approval. If IIROC approves the amendment, the Participating Organization, Member or Subscriber will then contact the TMX Trading Services Desk to instruct TSX, TSXV or TSXA to make the change. TMX Trading Services will confirm the change with IIROC before executing the change.
This policy does not apply to any requests received from IIROC or a securities regulator to cancel or amend a trade.
In the event of a dispute between two Participating Organizations, Members or Subscribers with respect to cancelling or amending a trade, TSX, TSXV or TSXA will make available any information required to settle the dispute, subject to any confidentiality restrictions on the disclosure of such information.
MGF or Odd lot Violations: Any MGF or Odd lot trade that is deemed by TSX/TSXV investigation to have occurred in violation of TSX Rule 4-802 or TSXV Odd lot guidelines can be cancelled at the discretion of the Registered Trader / Odd lot Dealer with IIROC's consent.
Odd lot Price adjustments: Where an odd lot fill occurs at a price that is significantly off of the best quoted market price, TSX staff may contact both sides of the trade to request a voluntary adjustment to the price. Only if both sides voluntarily agree, can TSX request approval from IIROC for the price adjustment before it can be completed.