It's called Closing Single Price Auction - it matches as many buy volumes to sell volumes as possible - then calculates one average price across the lot - and that is the closing price. It's impossible to calculate it precisely before 1610hrs because the bots will come in with buys and sells in the fractions of seconds before 1610 - and that could include many sells at 39.5 to ensure that the sale goes through - which forces the transaction through at 39.5c..
Chart, page-5485
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