Market trading hours

Market trading hours

The market goes through a number of phases on any trading day. The particular market phase determines the type of action that may be taken for an order on ASX Trade, which in turn affects how trading is conducted.
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PRE-OPENING PHASE

Pre-opening takes place from 7:00 am to 10:00 am, Sydney time. During Pre-opening:

  • Brokers enter orders into ASX Trade in preparation for the market opening.
  • ASX Trade does not trade orders.
  • Investors may enter orders on-line. The orders are queued according to price-time priority and will not trade until the market opens.
Overnight and overseas trades may be reported until 9:45 am, Sydney time. These trades must take place according to ASX Operating Rules.

OPENING PHASE

Opening takes place at 10:00 am Sydney time and lasts for about 10 minutes. ASX Trade calculates opening prices during this phase. Securities open in five groups, according to the starting letter of their ASX code:

Group 1  10:00:00 am +/- 15 secs 0-9 and A-B, e.g. ANZ, BHP
Group 2  10:02:15 am +/- 15 secs C-F, e.g. CPU, FXJ
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

The time is randomly generated by ASX Trade and occurs up to 15 seconds on either side of the times given above, e.g. group 1 may open at any time between 9:59:45 am and 10:00:15 am.

NORMAL TRADING

Normal Trading takes place from 10:00 am to 4:00 pm, Sydney time. Brokers enter orders into ASX Trade and ASX Trade matches the orders against each other, resulting in trades i.e in this phase ASX Trade automatically matches all trades in Price/Time Priority on a continuous basis.

 The vast majority of trades take place during Normal Trading.

PRE CSPA

Between 4:00 pm and 4:10 pm, Sydney time, the market is placed in Pre-CSPA. Trading stops and brokers enter, change and cancel orders in preparation for the market closing.

CLOSING SINGLE PRICE AUCTION

The Closing Single Price Auction takes place between 4:10* pm and 4:11 pm, Sydney time.

ASX Trade calculates closing prices during this phase.

*Random + 60 secs


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