Stock call auction is the process of consolidating several quotes or all order quotes within a certain period of time, and generating a transaction price based on the principle of not exceeding the bid price and not falling below the bid price. The maximum number of stocks traded at this price is used as the transaction price for all completed orders.
Hong Kong stock auction trading is divided into morning auction and closing auction. Investors only need to submit auction orders during the morning auction or closing auction period to participate in auction trading. Among them: Morning auction 1.Ordering time available Investors can place orders between 16:10 on trading days and 9:22 on the next trading day. Bid market orders placed before 9:00 on trading days will be saved by Alpha's trading system and automatically submitted to the exchange after 09:00. 2. Regarding disk time Random match will be completed between 9:20-9:22 before the market opens 3.Explanation and Precautions 3.1 Bidding orders cannot be changed or cancelled after 9:15
3.2 Bidding limit orders are placed in order of priority based on price and time
3.3 Any unexecuted bidding orders will be automatically cancelled before the official opening of the market
3.4 The pre opening period will only cover all equity securities (including depositary receipts, investment companies, preferred stocks, and bound securities), funds (including exchange traded funds and real estate investment trust funds), and leveraged and reverse products (collectively referred to as "pre opening period securities"). If non pre opening securities trading orders or non automated matching trades are entered during the pre opening period, the orders or trades will be rejected. Only after the start of the continuous trading period can trading orders for securities outside the pre opening period and non automatic matching orders be entered. For specific tradable products, please refer to the official instructions of the Hong Kong Stock Exchange.
Closing bid price 1.Ordering time available 16: 01-16:10 (16:08-16:10 is a random closing period, and if the market has already closed, orders cannot be placed) 2. Checking the disk time 16:08-16:10 3.Explanation and Precautions 3.1 All bidding market orders cannot be changed or cancelled after 16:06
3.2 Bidding orders are compared in order of order of order placed
3.3 Any unexecuted bidding orders will be automatically cancelled after the random closing of the market