Section 19.3.7.4 explains how a market participant can place a...

Section 19.3.7.4 explains how a market participant can place a higher priced order between lower priced orders when acting on the behalf of the same party to make the trading acceptable under the rules.

19.3.7  Limitation on consecutive sales

1. Trading Participant must not Short Sell an Approved Short Sale Product if the Trading Participant is a party to the last reported sale. This does not apply where:
   1. (a)  the Short Sale is made by the Trading Participant acting as Principal for less than a Marketable Parcel, with the effect of the sale being that a client's order is completed in accordance with the terms of the order;
   2. (b)  Trading Participants, other than the Trading Participant desiring to Short Sell, were involved in dealing at the last reported sale price;
   3. (c)  the party for whom the Trading Participant effects the Short Sale is different from and not associated with the party for whom the Trading Participant dealt in the last reported sale; or
   4. (d)  if the party for whom the Trading Participant effects the Short Sale is the same party or associated with the party for whom the Trading Participant dealt in the last reported sale, the price at which the Short Sale is effected is greater than the price at which the last reported sale of the Approved Short Sale Product was made during Open Session State.