pre-open, page-8

My apologies TCG,

What will the ASX intraday auction mean for me?




Securities involved in the Intraday Auction trial will be placed into pre-open at 12pm and 2pm on normal trading days. Intraday auctions will then occur for those securities at 12:05pm and 2:05pm (both +/- 15 seconds).

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.
You are able to 'amend' and 'cancel' any unexecuted orders already in the market
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.

Please note, for all stocks not participating in the intraday auction trail, trading will continue as normal.