Article 4.7.7

1.    During continuous trading contracts shall be concluded, up to the quantities available, through the automatic matching of orders of the opposite sign present on the book and ranked according to the criteria referred to in Article 4.7.5, paragraph 5, as follows:

a)      the entry of a limit order shall result in its being matched with one or more orders of the opposite sign having a price equal to or better than that of the order entered;

b)      the entry of a market order shall result in its being matched with one or more orders of the opposite sign on the book at the time the order is entered.

2.    The partial execution of a market order shall give rise to the immediate cancellation of the unfilled part, unless a special method of execution specified in the Trading Service Manual of the IDEM market. The partial execution of a limit order shall give rise to the creation of an order for the unfilled quantity that shall remain on the book with the price and time priority of the original order.

3.    Standard combination orders and FLEXCOs shall be executed:

a)      through automatic matching with “single orders” referred to in Article 4.7.5, paragraph 6 (a) of the opposite sign present on the market; or

b)      on the special trading book referred to in Article 4.7.5, paragraph 8, through automatic matching with other standard combination orders and FLEXCOs of the opposite sign present on that book and ranked according to the criteria referred to in Article 4.7.5, paragraph 5.