The trading system is able to trade multiple instruments such as equities, bonds, money market instruments, warrants and rights within a number of various trading books such as an odd lot book for orders less than the round lot board size and a special terms book for orders with special settlement or fill terms. The advanced nature of the System allows the PSE to divide trading sessions into various stages. Pre-open Open Continuous Trading Close trading system allows for various modifications during a given trading session. During the Pre-open stage for example, the System does not allow for the transaction of trades to take place but does allow for the entry of orders. Participants may also view the market via the various inquiry options available.
Traders can respond to existing offers and bids and execute transactions in less than two seconds.
Best price affords an order the highest priority. A market order begins trading at the current market price and can move through a series of price levels to be filled. The number of price levels will be limited by the Exchange. When a market order reaches its price level limit and still has remaining volume, it will be queued at that price level as a limit order. Time of arrival of an order at the Exchange will be time stamped.