Odd Lot Dealer Program
The role of the TSX Venture Exchange Odd Lot Dealer (VOD) Program is to provide a consistent and efficient way to service odd lot orders by providing an automatic immediate fill for incoming tradeable odd lots at the Protected NBBO. Odd lots resting in the TSX Venture Exchange odd lot book which later become tradeable due to a change in the Protected NBBO are also automatically filled by the Odd Lot Dealer at the Odd Lots limit price.
Unlike the TSX Market Making program, VODs are only required to service odd lots and do not have market making responsibilities.
Benefits to Odd Lot Dealers:
- Preferential trading fees and are eligible for a monthly symbol credit per symbol of responsibility designed to offset various costs incurred in carrying out their odd lot responsibilities
- Reputational benefit and industry-wide visibility associated with being an established trading firm that meets TSX Venture Exchange requirements
Odd Lot Dealers do not have any proprietary pre-trade information or access to information regarding trade order entry of other participants.
Requirements
Participating organizations and members of TSX Venture Exchange that are interested in serving as Odd Lot Dealers can be designated as such at the discretion of TSX Venture Exchange. The goal of TSX Venture Exchange is to maintain a healthy number of VOD firms deemed necessary to provide comprehensive coverage to all listed symbols. VOD firms are required to:
- Maintain sufficient expertise, technology, and firm capital to carry out their VOD responsibilities
- Assist TSX and its regulators with inquiries and anomalies
Click here to access a list of TSX Venture Exchange Odd Lot Dealer firms.
If a TSX Venture Exchange Participating Organization is interested in becoming a TSX Venture Exchange Odd Lot Dealer, or for more information on the VOD program, please contact a TMX Account Manager.