oh dear, page-15

AllfuelledUp and 81psi, the Indicative Price in Commsec Market Depth is not a 'forecast price' at all. It is the indicated LNC opening sp should an Opening Price Auction be conducted on the bids and offers currently in place, the surplus volume at that IP is also shown.
Commsec is not making a research assessment, or insider info guess, at the next LNC sp; rather it is stating the Indicative Price it has calculated from the bids and offers using the ASX algorithm and as such is an 'exact reckoning' not a forecast. Of course the Opening Auction will be open to more bids/offers so the IP may well change before an opening SP is ascertained, but at present it is exactly accurate.
The 4 Step Auction formula the ASX uses is on the ASX site under~ Calculating Opening & Closing Prices~ at
http://www.asx.com.au/resources/education/basics/open_Close.htm
It can be a drawn-out process if there is an multi-level overlap of price levels and it uses strict rules or Principles applied in algorithmic steps to obtain a result. I find the IP to be very handy as it saves me tallying the volumes on each bid/offer level and figuring out the surplusses at those levels.
Apologies for getting off subject but I felt it needed clarification as readers were being led astray