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lse_iob [2020/09/24 16:42] – mayalse_iob [2023/02/27 11:57] (current) – [Basic Market Rules] hammed
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 **Note:** Shanghai-London Stock Connect GDRs are traded on the IOB Shanghai Segment. **Note:** Shanghai-London Stock Connect GDRs are traded on the IOB Shanghai Segment.
  
-[[https://www.lseg.com/iob|Homepage]]+[[https://www.londonstockexchange.com/securities-trading/equity-trading/international-order-book|Homepage]]
  
 Currency: USD Currency: USD
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   * Tick Size: for more information, see the Price Format Schedules of the Millennium Exchange Business Parameters document on the [[http://www.londonstockexchange.com/products-and-services/technical-library/millennium-exchange-technical-specifications/millennium-exchange-technical-specifications.htm|Technical Specifications]] page.   * Tick Size: for more information, see the Price Format Schedules of the Millennium Exchange Business Parameters document on the [[http://www.londonstockexchange.com/products-and-services/technical-library/millennium-exchange-technical-specifications/millennium-exchange-technical-specifications.htm|Technical Specifications]] page.
   * Short Sale Rules: naked short selling is prohibited. For more information, see the [[https://www.fca.org.uk/markets/short-selling|Short Selling]] page.   * Short Sale Rules: naked short selling is prohibited. For more information, see the [[https://www.fca.org.uk/markets/short-selling|Short Selling]] page.
-  * Circuit Breakers: an auction will be triggered when the price of a potential execution is more than a defined percentage above or below the applicable reference price(s). For more information, see the [[http://www.lseg.com/guide-to-trading-system|Guide to Trading System]] page.+  * Circuit Breakers: an auction will be triggered when the price of a potential execution is more than a defined percentage above or below the applicable reference price(s). For more information, see the [[https://docs.londonstockexchange.com/sites/default/files/documents/maintaining-orderly-markets.pdf|Guide to Trading System]] page.
   * Minimum Order Size for ASM6 Sector Symbols: symbols in the ASM6 sector of the LSE have a minimum order size equal to 40% of Nominal Market Size (i.e., the size that is quoted by the market maker).   * Minimum Order Size for ASM6 Sector Symbols: symbols in the ASM6 sector of the LSE have a minimum order size equal to 40% of Nominal Market Size (i.e., the size that is quoted by the market maker).
   * Market Maker System on Some Equity Segments: the following market segments involve a market maker (not fully electronic). Orders submitted for symbols trading on these segments may behave differently and may cause delays in order acknowledgement and execution compared to fully electronic segments:   * Market Maker System on Some Equity Segments: the following market segments involve a market maker (not fully electronic). Orders submitted for symbols trading on these segments may behave differently and may cause delays in order acknowledgement and execution compared to fully electronic segments:
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 ===Auction Periods=== ===Auction Periods===
  
-1. **Continuous Trading** (08:00 - 16:30)+1. **Continuous Trading** (08:00 - 12:00)
   * Closing orders may be entered with ATC or GTA validity tags, which will remain dormant until the closing auction call   * Closing orders may be entered with ATC or GTA validity tags, which will remain dormant until the closing auction call
   * No closing orders will be matched   * No closing orders will be matched
   * Orders may be entered, amended, and cancelled   * Orders may be entered, amended, and cancelled
  
-2. **Closing Auction Call** (16:30:01 - 16:34:30)+2. **Intraday Auction** (12:00:01 - 12:05)
   * Orders may be entered, amended, and cancelled   * Orders may be entered, amended, and cancelled
   * Orders will not be matched   * Orders will not be matched
  
-3. **Closing Price Crossing Session** (16:34:31 - 16:40:00)+3. **Continuous Trading** (12:05:01 - 16:30) 
 +  * Closing orders may be entered with ATC or GTA validity tags, which will remain dormant until the closing auction call 
 +  * No closing orders will be matched 
 +  * Orders may be entered, amended, and cancelled 
 + 
 +4. **Closing Auction Call** (16:30:01 - 16:34:30) 
 +  * Orders may be entered, amended, and cancelled 
 +  * Orders will not be matched 
 + 
 +5. **Closing Price Crossing Session** (16:34:31 - 16:40:00)
   * Orders will be matched   * Orders will be matched
  
 **Order Types:** Market and Limit orders are eligible to participate in the closing auction. **Order Types:** Market and Limit orders are eligible to participate in the closing auction.
- 
 ===== See Also ===== ===== See Also =====
   * [[market_guides|Market Guides]]   * [[market_guides|Market Guides]]
lse_iob.1600980173.txt.gz · Last modified: 2020/09/24 16:42 by maya