1. Normal Market. This is where Board Lot orders are traded. Each stock has different minimum lot sizes.
2. Odd Lot Market. This is where order volume below the minimum board lot size are being traded.
   • Take note of the following:
     • Combining normal and odd lot orders is not allowed.
     • Partial matching of odd lot orders is allowed;
     • Odd lot orders posting is only allowed during continuous trading period;
     • Odd lot market has its own closing price but will adopt the price of the normal market during market opening.
   • Both markets are defined separately and are independent from one another during trading. One security is defined separately in the Odd Lot Market and Normal Market. Each will have its own Bid/Offer prices.
3. Iceberg. These are large single orders which the Exchange divides into smaller limit orders for the purpose of hiding the actual order quantity.
   • Order cost is computed the same as a normal order
   • Minimum percentage of 10% should be indicated in the disclosed quantity
   • Minimum number of shares should be equal or greater than the lot size of the stock
   • Once disclosed quantity is filled, only the matched order will be shown in client’s portfolio
   • Trades in disclosed quantity will remain open until desired number of shares has been filled

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