The Centre Point Crossing enables an ASX Participant to cross at the midpoint of the prevailing best bid and offer in the ASX CLOB. Centre Point Crossings provide greater flexibility to the liquidity search process by removing the so-called ACE requirement to Appear, Create before Executing.
The functionality will provide for a 30 second opportunity between initiating a crossing and executing it at the price that existed at initiation (i.e. the crossing execution price remains available to the Participant irrespective of any movement in the ASX CLOB for that Cash Equity during the 30 second period). Once a Centre Point Crossing order trades, the trade will be displayed in the trade history window with condition code CXXT.
IDL Price at posting:
$1.37 Sentiment: LT Buy Disclosure: Held
