Hope this helps...About Undisclosed OrdersThe Undisclosed Order...

Hope this helps...


About Undisclosed Orders
The Undisclosed Order is a CLOB order type. It is fully disclosed in terms of execution price
but undisclosed regarding execution volume.
Features of the Undisclosed Order:
• The Undisclosed Order is a CLOB order type that will trade against all other CLOB orders
in price/time priority
• Undisclosed Orders can be entered with all order validities e.g. day only, good till cancel,
fill and kill etc
• A$500,000 minimum order size
• When an Undisclosed Order is partially traded and the remaining order value is less than
the minimum undisclosed value, the system will automatically disclose the remaining quantity
without affecting the order’s priority
• For all users outside the ASX Participant, Undisclosed Orders are displayed with ‘/u’ in the
quantity field*
• For users within the ASX Participant, Undisclosed Orders are displayed with the actual quantity
and a trailing ‘/u’ to indicate it is an Undisclosed Order*
• Transactions that occur from Undisclosed Orders are immediately reported into the CLOB
Course of Sales without an undisclosed condition code
• Trades resulting from Undisclosed Orders will be included in daily ASX Open, High, Low, Last,
Volume, Value and VWAP statistics
• Trades resulting from Undisclosed Orders clear and settle in the same way as all other ASX
Equity trades.
Undisclosed Order visibility in the ASX CLOB; example LGL Orderbook
When viewing an order book all Undisclosed Orders will be indicated by the symbol /u.
Undisclosed Order Advantages:
• The Undisclosed Order is a mechanism that can be used by ASX Participants and their
customers to indicate their ‘size’ dealing commitment to the market in an attempt to attract
opposing order flow
• Assists efficient queue management in liquid securities.
* ASX displays ‘/u’ on its system. Data vendors may use different signifiers for Undisclosed Orders
on their