Examples of Post Only in a sentence
The handling of a Post-Only Order may move from one process to the other (i.e., a Post-Only Order initially handled under the Post-Only Price Process may upon reevaluation be handled under the Managed Interest Process if the PBBO changes and the Post- Only Order no longer locks or crosses an order on the System but locks or crosses the ABBO).
If the EBBO is at the NBBO, upon receipt of an order which locks or crosses the NBBO (other than a Post-Only Order which is handled pursuant to the Post- Only Price Process under paragraph (i) below), the System will immediately execute the new incoming order against the EBBO at or better than the EBBO price for a size which is the lesser of (1) the new incoming order; or (2) the EBBO size.
Should the EBBO price change to an inferior price level, the Post-Only OQ’s Book price and displayed price will continuously re-price to one MPV away from new EBBO until (A) the Post-Only OQ has traded to and including its limit price, (B) the Post-Only OQ has traded to and including its price protection limit at which time any remaining contracts are cancelled, (C) the Post- Only OQ is fully executed or (D) the Post-Only OQ is cancelled.
Post-Only OQs may participate in the Opening Process, however, the Post-Only instruction will be ignored for Post- Only OQs that participate in the Opening Process.
Following the initial ranking and display of a Post Only OQ subject to the POP Process, a Post Only OQ will only be re-ranked and re-displayed to the extent it achieves a more aggressive price, provided, however, that the Exchange will re-book a Post-Only OQ at the same price as the displayed price in the event such Post-Only OQ’s displayed price is locked or crossed by the EBBO.
The Post- Only instruction will be ignored for (i) Post-Only Quotes that participate in the Opening Process, and (ii) Post-Only Quotes subject to the ABBO transition from a crossed state to an uncrossed state pursuant to Rule 515, Interpretation and Policy .02.
If the PBBO is at the NBBO, upon receipt of an order which locks or crosses the NBBO (other than a Post-Only Order which is handled pursuant to the Post- Only Price Process under paragraph (g) below), the System will immediately execute the new incoming order against the PBBO at or better than the PBBO price for a size which is the lesser of (i) the new incoming order; or (ii) the PBBO size.
A Post- Only Order may not be a Market Order, Auction-or-Cancel Order, Immediate-or-Cancel Order, an Intermarket Sweep Order or a Good ‘til Cancelled Order.
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The following paragraphs will apply to a Post- Only Order where the limit price of a Post-Only Order locks or crosses the current opposite side PBBO where the PBBO is the NBBO (the Post-Only Order locks or crosses an order on the System) both (i) upon receipt by the System, and (ii) upon reevaluation by the System.