ASX Exchange
Equity Market Phases | Time Period (Sydney Time) | Market to Limit Orders | Limit Orders | Order Amendments | Order Cancellations | Details |
---|---|---|---|---|---|---|
Close | 2:25AM - 7:00AM | Not permitted | Queued outside of Market | Queued outside of Market | Queued outside of Market | |
Pre-Open | 7:00AM - 9:59:00AM* | Not permitted | Queued in Market | Queued in Market | Queued in Market | ASX Trade does not execute orders. |
(OSPA) Opening Single Price Auction | 09:59:00AM - 09:59:45PM* | Not permitted | Queued outside of Market | Queued outside of Market | Sent to Market | The OSPA is a levelling/buffering period during which ASX Trade calculates opening prices. * The OSPA occurs during a 15 second randomised window beginning at 9:59:00, which will run for a minimum of 30 seconds. It will commence no later than 09:59:15. The earliest transition from OPSA to continuous trading (Open) will occur at 09:59:45. |
Open/Normal Trading | 09:59:45AM* – 4:00PM | Sent to Market (CSPA Price) | Sent to Market | Sent to Market | Sent to Market | *Opening takes place at 09:59:45* (randomised 15 seconds) |
Pre CSPA | 4:00PM – 4:10PM | Not permitted | Queued in Market | Queued in Market | Sent to Market | New orders, amendments and cancellations are permitted during this phase. ASX Trade does not execute orders. Preparation for the Closing Single Price Auction (CSPA). |
Closing Single Price Auction (CSPA) | 4:10PM+ - 4:11PM | Not permitted | Queued outside of Market | Queued outside of Market | Sent to Market | ASX Trade calculates closing prices during this phase. |
Post Close | 16:11PM – 4:21:30PM | Sent to Market (CSPA Price) | Sent to Market (CSPA Price) | Sent to Market (CSPA Price) | Sent to Market (CSPA Price) | New Market to Limit orders are sent to market. |
Adjust | 4:21:30PM - 4:42PM | Not permitted | Queued outside of Market | Sent to Market# | Sent to Market | #Passive order amendments are sent to market. |
Adjust ON | 4:42PM - 6:50PM | Not permitted | Queued outside of Market | Sent to Market# | Sent to Market | #Passive order amendments are sent to market. |
Trading Halt | Ad hoc | Not permitted | Not permitted | Sent to Market* | Sent to Market | *Downward volume or passive price amends are sent to market. |
Purge Orders | 6:50PM-6:59PM | Not permitted | Queued outside of market | Queued outside of market | Queued outside of market | Expired orders and orders that are too far from market etc. Will be centrally inactivated/purged. |