"With the introduction of support for Iceberg orders, we are providing meaningful protection for large, passive orders, and enhancing further the attractiveness of the overall market", said Richard Nesbitt, President of TSX Markets. "Used alone or in combination with the other market improvements slated for the Toronto Stock Exchange in 2002, Iceberg orders lower impact costs, improve convenience and enhance liquidity for all participants".
Iceberg orders are subject to a minimum initial disclosed volume of 2000 shares. When a portion of an iceberg order trades, decreasing the disclosed volume to zero, the trading system automatically refreshes the displayed volume to the original disclosed amount. The full size of the order is never publicly disclosed.
TSX are the initials attached to the core businesses of the TSX group of companies: Toronto Stock Exchange, TSX Venture Exchange and TSX Markets. The TSX group of companies collectively manage all aspects of Canada's senior and junior capital markets, and will be Canadian leaders in a global industry, offering clients quality products and always striving to exceed their expectations. The TSX group of companies is headquartered in Toronto and maintains division offices in Montreal, Winnipeg, Calgary and Vancouver.
