PART A.2 – STOCK TRANSACTIONS

4807. Stock trading units

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    1. Section 4807 applies to all transactions between Dealer Members regardless of the Districts the Dealer Members are in. 

    2. In section 4807 “trading units” is defined as follows:

      1. Common and preferred shares not listed on an acceptable exchange in Canada or the United States:

        1. in lots of 500 shares, if market price per share is below $1,

        2. in lots of 100 shares, if market price per share is at $1 and below $100, or

        3. in lots of 50 shares, if market price per share is at $100 or above.

    3. A Dealer Member calling a market shall be obliged to trade trading units if called upon to trade, unless prefixed by some qualifying phrase. Any amount less than one trading unit will be considered as an “odd lot”.

    4. Any Dealer Member asking the size of a stated market must be prepared to buy or sell at least a trading unit at the price quoted if immediately requested to do so by the Dealer Member calling the market.

    5. Any Dealer Member that has been requested to call a market has the option to trade an odd lot at the called market (if so requested) or to adjust its market to compensate for the smaller amount involved.

    There is no history log for this rule.