Vanilla XJO Thread, page-617

ASX opening and closing auction changes start on Monday

https://www.asx.com.au/markets/trade-our-cash-market/equity-market-working-group
This is a link to two ASX videos about the changes to the opening and closing auctions that take effect from Monday 23 June. Or try searching on "Equity market working group".

Not much other info is available. Even searches on "OSPA" or "post close trading session" within ASX's website come up with a blank. These two videos seem to be the only information that ASX has provided to the public. Typical inadequate ASX. No surprise then that some brokers in attempting to explain the changes to their clients might not necessarily have got their explanations quite right. Traders will need to check for themselves that they understand what is changing as from Monday.


Probably the most interesting thing for traders is the new "post close trading session" where traders will be able to put in bids and offers after the closing auction for shares at the price that has just been determined in the closing auction. Depending on what any other players decide to bid or offer, on many occasions this will give traders a second shot at making a trade at the end of the day. This could open the door to some interesting new trading tactics.

The other main change is that the opening auction will now happen for all stocks at the same time, replacing the present phased opening where different stocks open at different times. This change is unlikely to have much impact on trading tactics.