Thumbs up Jo, Cant think of any changes that the asx have introduced that where not based on increased revenue.
Here is the ann. Just for the record I think the extra volume could be good for CCU if it dose eventuate,the FA is great and the chart is starting to look the goods with tightening bollinger bands a break out may be on its way.
Important Information Regarding ASX Intraday Auction Trial
The ASX proposes to commence a 3-month trial of Intraday Auctions for selected equity securities outside the S&P/ASX 300 on 29 January 2013.
The Intraday Auction will use the same process the ASX currently uses to determine security opening & closing prices, but will occur during the middle of the trading day.
Based on the outcome of the trial, the ASX will consider expanding intraday auctions to all stocks outside the S&P/ASX 300. Intraday auctions have been used successfully as a mechanism to increase liquidity in certain overseas markets.
When will this change take effect?
The ASX will commence the intraday Auction trial on 29 January 2013. The trail is proposed to run for 3 months, as determined by the ASX.
What effect is the trial likely to have?
Intraday auctions occur at 12:00pm and 2:00pm (Sydney time) on ASX trading days. Securities involved in the Intraday Auction trial will be placed into pre-open for 5 minutes from 12:00pm-12:05pm and 2:00pm – 2:05pm (+/-15 seconds random timer).
During pre-open:
No matching of orders occurs. New “Limit” orders may be entered and placed on the ASX to participate in the auction. New “At Market” orders will not be accepted by the ASX. Existing unexecuted orders on market can participate in the auction (i.e. orders will not be purged). Orders are queued according to price-time priority, consistent with normal continuous trading. Unexecuted orders already on market may be amended. Once the intraday auction takes place, orders are matched and continuous trading will resume as normal.
Clients should consider how these intraday auctions and the price trades execute at the auction may impact their trading strategies.
CCU Price at posting:
39.3¢ Sentiment: None Disclosure: Held
