Can anyone explain to how pre trading works?, Ive just been MXG and MAP trade around 9 million shares before the market opens. Who can do this?, and by what means?
If there are clients wanting to trade the same stock--one selling and one buying---using the same broker then a cross trade can be made at an agreed price.
Can anyone explain to how pre trading works?, Ive just been MXG and MAP trade around 9 million shares before the market opens. Who can do this?, and by what means?
Hi EN,
Use the search tool, there are at least 2 threads on it from memory, some good explanations. Also see the www.ASX.com.au site for how the market works.
Just wondering if anyone can confirm an opening market price for two different prices with the same quantity and no other bids or asks in between or at these prices. Pre open is ....
Just wondering if anyone can confirm an opening market price for two different prices with the same quantity and no other bids or asks in between or at these prices. Pre open is ....
ASX description of the price match up states this.
If the Minimum Surplus for all possible auction prices is zero, then the algorithm marks the highest and lowest prices within that range as the potentialauction prices to be applied in this principle.
If the reference price is equal to or greater than the higher of thetwo possible prices established in the first section of this principle, then the higher price becomes the auction price.
The reference price is yesterdays close price. In my example the prices overlap but there is no minimum surplus to break the deadlock. So this where it is hazy to me. I interpret this as having to use the "reference price" to break the deadlock.
If the reference price is equal to or less than the lower of the twopossible prices established in the first section of this principle, then the lower price becomes the auction price.
If the reference price lies between the two possible prices established in the first section of this principle, then the reference price itself becomes the auction price.