Getting Started in Shares For Dummies by James Dunn

Author:James Dunn [Dunn, James]
Language: eng
Format: epub, pdf
ISBN: 9780730385448
Publisher: Wiley
Published: 2020-09-23T00:00:00+00:00

The algorithm is only applied when an even or overlapping market exists. For example, if all buy orders are lower than all sell orders, the opening price can’t be set. That will only occur when a buyer lifts their price to meet a seller, or a seller lowers their price to meet a buyer, at which point a trade is executed and an opening price is generated. With an overlapping market, all buy orders that had been submitted above the auction price will have traded, just as all sell orders that had been submitted below the auction price will have traded. Buy orders below the auction price and sell orders above the auction price will be sitting in the market still, not having yet traded at the prevailing market price.

At 10.00 am AEST, the market opens for ‘Normal Trading,’ but on a staggered basis, with stocks opening alphabetically at set times:

Stock codes starting with A-B open at 10.00:00 am (+/– 15 seconds)

Stock codes starting with C-F open at 10.02:15 am (+/– 15 seconds)

Stock codes starting with G-M open at 10.04:30 am (+/– 15 seconds)

Stock codes starting with N-R open at 10.06:45 am (+/– 15 seconds)

Stock codes starting with S-Z open at 10.09:00 am (+/– 15 seconds)

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