intraday auctions wtf??? what next !!

Important Information Regarding ASX Intraday Auction Trial

The ASX proposes to commence a 3-month trial of Intraday Auctions for selected equity securities outside the S&P/ASX 300 on 29 January 2013.

The Intraday Auction will use the same process the ASX currently uses to determine security opening & closing prices, but will occur during the middle of the trading day.

Based on the outcome of the trial, the ASX will consider expanding intraday auctions to all stocks outside the S&P/ASX 300. Intraday auctions have been used successfully as a mechanism to increase liquidity in certain overseas markets.


When will this change take effect?

The ASX will commence the intraday Auction trial on 29 January 2013. The trail is proposed to run for 3 months, as determined by the ASX.


What effect is the trial likely to have?

Intraday auctions occur at 12:00pm and 2:00pm (Sydney time) on ASX trading days. Securities involved in the Intraday Auction trial will be placed into pre-open for 5 minutes from 12:00pm-12:05pm and 2:00pm – 2:05pm (+/-15 seconds random timer).

During pre-open:
No matching of orders occurs.
New “Limit” orders may be entered and placed on the ASX to participate in the auction.
New “At Market” orders will not be accepted by the ASX.
Existing unexecuted orders on market can participate in the auction (i.e. orders will not be purged).
Orders are queued according to price-time priority, consistent with normal continuous trading.
Unexecuted orders already on market may be amended.

Once the intraday auction takes place, orders are matched and continuous trading will resume as normal.

Clients should consider how these intraday auctions and the price trades execute at the auction may impact their trading strategies.


What stocks are affected?

The ASX have selected 37 securities for the trial. These are subject to change during the trial, as determined by the ASX.



COMPANY

ASX CODE

COMPANY

ASX CODE



ADITYA BIRLA MINERALS LIMITED

ABY

GUILDFORD COAL LIMITED

GUF



AFRICAN ENERGY RESOURCES LIMITED

AFR

JUPITER MINES LIMITED

JMS



AUTOMOTIVE HOLDINGS GROUP LIMITED

AHE

MINEMAKERS LIMITED

MAK



ASPIRE MINING LIMITED

AKM

MOLY MINES LIMITED

MOL



ARGO INVESTMENTS LIMITED

ARG

NIDO PETROLEUM LIMITED

NDO



ARAFURA RESOURCES LIMITED

ARU

NEW HOPE CORPORATION LIMITED

NHC



AVANCO RESOURCES LIMITED

AVB

NIB HOLDINGS LIMITED

NHF



ALCYONE RESOURCES LTD

AYN

NORTHERN MINERALS LIMITED

NTU



BUCCANEER ENERGY LIMITED

BCC

OAKTON LIMITED

OKN



BC IRON LIMITED

BCI

PEAK RESOURCES LIMITED

PEK



BRICKWORKS LIMITED

BKW

PLUTON RESOURCES LIMITED

PLV



BERKELEY RESOURCES LIMITED

BKY

REA GROUP LTD

REA



BANNERMAN RESOURCES LIMITED

BMN

RHG LIMITED

RHG



COBAR CONSOLIDATED RESOURCES LIMITED

CCU

RIDLEY CORPORATION LIMITED

RIC



CLOUGH LIMITED

CLO

STW COMMUNICATIONS GROUP LIMITED

SGN



CARNARVON PETROLEUM LIMITED

CVN

SALMAT LIMITED

SLM



COAL OF AFRICA LIMITED

CZA

WASHINGTON H SOUL PATTINSON & COMPANY LTD

SOL



EMPIRE OIL & GAS NL

EGO

STRAITS RESOURCES LIMITED

SRQ



GOLD ONE INTERNATIONAL LIMITED

GDO