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australia_securities_exchange

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australia_securities_exchange [2017/10/11 12:21] – created mayaaustralia_securities_exchange [2024/04/19 10:40] (current) – hammed
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 ====== Australian Securities Exchange (ASX) ====== ====== Australian Securities Exchange (ASX) ======
 +
 The Australian Securities Exchange is Australia's primary securities exchange, sometimes referred to outside of Australia as the Sydney Stock Exchange. ASX is home to some of the world’s leading resource, finance, and technology companies. The Australian Securities Exchange is Australia's primary securities exchange, sometimes referred to outside of Australia as the Sydney Stock Exchange. ASX is home to some of the world’s leading resource, finance, and technology companies.
  
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 Currency: Australian Dollar (AUD) Currency: Australian Dollar (AUD)
  
-[[http://www.asx.com.au/about/asx-24-trading-calendar-2017.htm | Holiday Calendar]]\\ +[[https://www2.asx.com.au/markets/market-resources/trading-hours-calendar/cash-market-trading-hours/trading-calendar | Holiday Calendar]]\\ 
-[[http://www.asx.com.au/about/trading-hours.htm | Trading Hours]]+[[https://www2.asx.com.au/markets/market-resources/trading-hours-calendar/cash-market-trading-hours | Trading Hours]] 
 ===== Trading Summary ===== ===== Trading Summary =====
-The ASX has opened up to competition in recent years, with the notable entry of Chi-X in execution venues. 
  
-For more information about the ASX, see the [[http://www.asx.com.au/about/corporate-overview.htm|Corporate Overview]] page. +For information about the ASX, see their official [[http://www.asx.com.au/about/corporate-overview.htm|Corporate Overview]] page.
- +
-==== Lit Order Types ==== +
-  * Limit Buy/Sell->ShortSell +
-  * Market Buy/Sell->ShortSell +
-  * Market-on-Close Buy/Sell->ShortSell +
- +
-==== Dark Order Types ==== +
-  * Limit Buy/Sell->ShortSell +
-  * Market Buy/Sell->ShortSell +
-  * Midpoint Pegged Buy/Sell->ShortSell+
  
 +==== Order Types ====
  
 +  * Limit Day
 +  * Fill or Kill (FOK)
 +  * Immediate or Cancel (IOC)
  
 ==== Basic Market Rules ==== ==== Basic Market Rules ====
 +
   * Lot Size: min. 1; max. 999,000,000   * Lot Size: min. 1; max. 999,000,000
   * Tick Size: varies by price, as follows:   * Tick Size: varies by price, as follows:
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   * Short Sale Rules: short sales must be declared and are only permitted where a locate for the shares has been obtained. Naked short selling is prohibited.   * Short Sale Rules: short sales must be declared and are only permitted where a locate for the shares has been obtained. Naked short selling is prohibited.
   * Circuit Breakers: although the ASX has not established fixed thresholds for circuit breakers or trading halts, trading in a company's shares may be halted from time to time for market-sensitive announcements or at the request of the company.   * Circuit Breakers: although the ASX has not established fixed thresholds for circuit breakers or trading halts, trading in a company's shares may be halted from time to time for market-sensitive announcements or at the request of the company.
 +
 ==== Auction Mechanisms ==== ==== Auction Mechanisms ====
 +
 === Open === === Open ===
-The opening auction procedure begins at 10:00 AM and lasts for about 10 minutes. The reason for this is that stocks are divided into 5 groups which open sequentially, as follows: + 
-  * Group 1 (A-B) 10:00:00AM +/- 15 sec +The opening auction procedure begins at 10:00 AM and lasts for about 10 minutes. Opening prices are calculated during this phase. Securities open in five groups, according to the starting letter of their ASX code: 
-  * Group 2 (C-F) 10:02:15AM +/- 15 sec + 
-  * Group 3 (G-M) 10:04:30AM +/- 15 sec +  * Group 1  10:00:00 am +/- 15 secs 0-9 and A-B, e.g. ANZ, BHP 
-  * Group 4 (N-R) 10:06:45AM +/- 15 sec +  * Group 2  10:02:15 am +/- 15 secs C-F, e.g. CPU, FXJ 
-  * Group 5 (S-Z) 10:09:00AM +/- 15 sec+  * Group 3  10:04:30 am +/- 15 secs G-M, e.g. GPT 
 +  * Group 4  10:06:45 am +/- 15 secs N-R, e.g. QAN 
 +  * Group 5  10:09:00 am +/- 15 secs S-Z, e.g. TLS
  
 === Close === === Close ===
 +
 The closing price is defined by the following closing auction mechanism. The closing price is defined by the following closing auction mechanism.
  
 **Auction** means an auction conducted in a Trading Platform in respect of Qualifying Bids or Offers pursuant to the following process: **Auction** means an auction conducted in a Trading Platform in respect of Qualifying Bids or Offers pursuant to the following process:
-  * **a)** The Priority Bid is paired with the Priority Offer so that either the Bid or the Offer is fully  satisfied;+  * **a)** The Priority Bid is paired with the Priority Offer so that either the Bid or the Offer is fully satisfied;
   * **b)** A new priority of Bids and Offers is established, deducting the quantity of Products paired under point a);   * **b)** A new priority of Bids and Offers is established, deducting the quantity of Products paired under point a);
   * **c)** The pairing and re-establishment of priority set out in point a) and b) are repeated until the Priority Bid is below the Priority Offer;   * **c)** The pairing and re-establishment of priority set out in point a) and b) are repeated until the Priority Bid is below the Priority Offer;
   * **d)** All paired Bids and Offers are then matched at the Equilibrium Price;   * **d)** All paired Bids and Offers are then matched at the Equilibrium Price;
   * **e)** Any Bids or Offers which have not been matched at the completion of the process described in point b) will be carried through to the next Session State   * **e)** Any Bids or Offers which have not been matched at the completion of the process described in point b) will be carried through to the next Session State
 +
 +**Note:** any order sent during the closing auction must be within 12% of the theoretical auction price. Otherwise, it will get cancelled automatically as a result of the exchange's fat finger check.
 +
 +**Note:** to put orders into market directly, the order price should not be away from the Match Price by more than 5%. Else, they breach price limit and orders will be rejected.
  
 **Auction Periods** **Auction Periods**
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   * No trades may be reported   * No trades may be reported
  
-**Order Types:** traders can enter Limit, Market, and Market-on-Close orders to participate in the auction.+**Order Types:** traders can enter a Limit orders to participate in the auction. 
 + 
 +===== ASX24 Futures ===== 
 + 
 +ASX24 Futures are available for execution/send orders. Quotes are still available. 
 ===== Additional Info ===== ===== Additional Info =====
  
 ==== Financial News/Research ==== ==== Financial News/Research ====
 +
   * [[http://www.theaustralian.com.au/business | The Australian: Business Section]]   * [[http://www.theaustralian.com.au/business | The Australian: Business Section]]
   * [[http://afr.com/business | The Australian Financial Review: Business Section]]   * [[http://afr.com/business | The Australian Financial Review: Business Section]]
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 ===== See Also ===== ===== See Also =====
-  * [[http://www.ppro8wiki.com/doku.php?id=market_guides|Market Guides]]+  * [[market_guides|Market Guides]]
australia_securities_exchange.1507738868.txt.gz · Last modified: 2017/10/11 12:21 by maya