17.00 what goes on at that time.

[#1]

Why do some dastardly things happen at 17.00, when common mortals are not allowed to trade? A share can trade all day at a certain range of prices, but at 17.00 a sale, often a huge no. takes place at a higher or a lower price, giving a false reading for ruling price of the day. What goes on? Is it constitutional?

[SimonPB]

the 5pm trade is the closing auction, all can partake in it.

[john_1]

me thinks a news letter is in order.

[Skyhawk]

I agree,a newsletter will sort the issue for while until another newbie rock up!

[diaan]

Do I hear an echo?

[#6]

Simon, how do we partake through the medium of this trading platform?

[john_1]

with an @market trade after 4.50pm

[#8]

Thanks for the reply John, but I want Simon to spell out what we need to do as he always makes the statement that all can partake but does not spell out how! I am sure there is more to it than solely placing an at market order!

[CrownA]

DON'T TRADE @MARKET - you can lose your shirt! Set a price you feel will be met either Bid/Offer!

[asylum]

Nope thats it John is right, what more do you think there is to it? You place your order at market and you get the closing action price, you dont have to go in at market price but theres a very good chance your bid wont match.

[SimonPB]

trading halts at 4.50. From them until 5pm you can place/cancel orders (buy or sell) and either @market or limit. During the ten minutes no trade matching happens, then at 5pm the system determines at what price the largest value trades - the trade is done (with multiple people on each side), and that is then the closing 5pm price. Really nothing clever or special.

[#12]

Thank you.

[john_1]

if you use a limit price will it still match if it is outside your limit?

[Brazen]

But if it's that simple where do the Illuminati fit in? You can't fool me with clever talk.

[john_1]

thats not true, we fool you with clever talk all the time.

[#16]

Simon, what happens if both bid and offer are @market - which takes precedence, bid or offer?

[Skyhawk]

yes

[JohnnyCash]

John, if your Bid is at or higher than the price at which the system matches, you will be included in the match BUT only at the matching price. You will get the lower of your BID or the matching price. Thats why you sometimes see ridiculous BIDs of 10% higher than the last few trades, that way it is almost @ market but you know what you're in for.

The other Q of which sides @Market takes precedence, I believe it automatically goes with the one with the highest volume. So more @ Market BIDs then the system will match against the maximum offers it can get...

[SimonPB]

no, only if it is within. @market increasses odds of matching. But at with no price control.