Sorry, but the source quoted by Yak is outdated. In particular...

  1. 19 Posts.
    Sorry, but the source quoted by Yak is outdated. In particular there is now no such thing as an average price with possibly more decimal places than a normal trading price would have. One price is derived that will maximise the volume traded during the opening, subject to the buy and sell limit orders that exist pre-opening. If there is not one such price, fall-back rules are used; see the following URL for the full scoop:

    http://www.asx.com.au/markets/l4/OpenClose_AM4.shtm

 
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