Course of sales after market close

[osmosis]

Hi
I was just looking at the course of sales of ANZ bank today and noticed that many sales occured after 4PM. Many of these were also well below the $25 mark which was the low end of trrading. I'm sure there is a basic explanation that someone can provide a newbiw like me. I have pasted some of the sales. Thanks for the help.

Time Price Volume Value Condition
04:15:18 PM 25.109 97,126 2,438,736.64 xO
04:13:56 PM 24.350 3,383 82,376.05 xO
04:13:16 PM 0.000 0 0.00 x
04:13:10 PM 24.350 633 15,413.55 xO
04:12:17 PM 24.350 13,697 333,521.95 xO
04:12:00 PM 0.000 0 0.00 x
04:12:00 PM 0.000 0 0.00 x
04:10:26 PM 24.350 100 2,435.00
04:10:26 PM 24.350 250 6,087.50
04:10:26 PM 24.350 500 12,175.00
04:10:26 PM 24.350 1,500 36,525.00
04:10:26 PM 24.350 2,500 60,875.00
04:10:26 PM 24.350 100 2,435.00
04:10:26 PM 24.350 2,000 48,700.00
04:10:26 PM 24.350 1,000 24,350.00
04:10:26 PM 24.350 3 73.05
04:10:26 PM 24.350 250 6,087.50
04:10:26 PM 24.350 111 2,702.85

 

[Aviator33]

They are the sales that took place in the after market auction. All the ones at 4:10 are at the same price which was the auction price. The ones after that were off market trades (they were also overseas trades)

 

[osmosis]

Thanks for the reply. Can anyone participate in the aftermarket auction and how does it work?

 

[Aviator33]

That would depend on your broker but as far as I know, most (if not all) let you participate in the auction. One exception is MM CFD providers (eg CMC) though DMA CFD providers should let you participate as it's a straight through system.

Basically, from 7am to before the open at 10am (pre-open) all orders are queued and a fancy algorithm matches the buy and sell orders and works out the opening price. That will be the opening price when the stock starts trading (between 10 and 10:09am depending on the starting letter of the stock code and +/- 15 seconds).

Same thing happens at market close from 4pm to 4:10pm (Pre-closing single price auction) with final price being settled between 4:10 (+ random 60 seconds) and 4:12 (CSPA)

So to participate in the auction is simply a matter of placing an order during those times. If your buy price is above the auction price at open/close it will get filled. If your sell price is below the auction price at open/close, same thing.

Most brokers will display a changing price before the open/close known as the Indicative Auction Price (IAP) so you know where your order sits in relation to that and can ammend your order to ensure you get filled.

Hope that explains it? If not, here's a couple of ASX links with more info.

Trading Hours

Price Calculations

Cheers