NightStalker my bro......please confirm that all trades in the...

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iwik.cazna

211 Posts.

08/07/15

08:28

Post #: 15597238
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Originally posted by NightStalker ↑

I think somebody needs to learn a bit more about how share trading and markets work.

It's standard operating procedure in every opening auction and every closing auction on every stock. Traders put their bids in, to buy or sell. If you want a guaranteed buy or sell, then you jump the queue and outbid the rest. That's why they are called auctions...!

The opening auction goes for a couple of hours leading up to the opening "roll-through" where the bids are matched up and the opening price is therefore set at which all those trades get executed. The roll-through occurs over a 10-minute period until about 10:10, based on groups in alphabetical order by trading code.

The closing auction goes for 10 minutes from 4pm until 4:10pm. The match-up roll-through happens at a time which is usually within about 30 seconds either side of 4:10pm - but it varies to try and stop last second front-running (although HFT bots can still front-run the close). The closing roll-through happens with all stocks at the same time, not staggered like the open.

Hope that helps, and that it makes some kind of sense.

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NightStalker my bro......please confirm that all trades in the opening action will buy & sell at the indicative price (only in that 10 minutes) I sort of know about the opening auction but still to learn (see) the closing. Is closing 10 minute auction exactly the same as opening? thanks in advance mate. Anzac.Kiwi

LYC Price at posting: 3.3¢ Sentiment: None Disclosure: Held
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0 Great analysis

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