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Timer Rules

Timer rules are defined by the exchange and vary by instrument. There rules frequently change; therefore TT recommends that you verify timer rules with the exchange.

 

US Treasury - Actives
Security Price Tick Increment Hold in Timer(Per Second) New Trade ThroughThreshold WorkupTimersPrivate/Public1/Public2 Prohibit LockedMarkets - ON
2 Year 1/4 1 1 0/3/3 Yes - convert passive to aggressive
3 Year 1/4 1 1 0/3/3 Yes - convert passive to aggressive
5 Year 1/4 1 1 0/3/3 Yes - convert passive to aggressive
7 Year 1/2 1 1 0/3/3 Yes - convert passive to aggressive
10 Year 1/2 1 1 0/3/3 Yes - convert passive to aggressive
30 Year 1/2 2 10 0/4/3 Yes
Government of Canada Bonds
Actives 1/2 cent (.005) Price 2 None 8/8/8 Yes
Bills (.01) Yield 0 None 10/10/10 Yes
Rolls (.01) Yield 0 None 10/10/10 Yes

 

Hold in Timer: The best bid and the best offer cannot be canceled for two seconds; however, you can reduce the quantity to a 1-lot (one million). Orders joining the best bid and best offer are not subject to the Hold in Timer rule.

Trade Through Threshold: This is the minimum order quantity needed to end the current workup market and trade through to the next available price.