Examples of COA in a sentence
The proposed changes to each of the COA, C–AIM, and C–XXX early termination provisions add the scenario in which the applicable auction will terminate early if the Exchange receives a Non- Priority Customer order that would cause the SBBO to be equal to the stop price and have the BBO of a leg represented by a Priority Customer order.
As a result, the Exchange believes the proposed rule change will further protect Priority Customer orders on the simple book by ensuring that no execution within a COA, C–AIM, or C–XXX auction will occur at a price that equals the SBBO (and the applicable side) if the BBO of any component of the applicable complex strategy is represented by a Priority Customer, regardless of what type of incoming order caused the change in the SBBO, which ultimately protects investors and the public interest.