The Australian Securities Exchange (ASX) is open continuously between 10am (Sydney) and 4:10pm/4:12pm (Sydney) time, but there are some inconsistencies.
For example, the open is staggered over 9 minutes, and the close is a randomly generated time between 4:10pm and 4:12pm (Sydney). Additionally, orders can be changed or amended outside those times.
These market "phases" are listed below.
| Time | Status |
|---|---|
|
7:00am - 10:00am
|
Pre-open
Trades can be entered into the system but no trading takes place. All trades are queued according to their price with priority given to trades entered first. |
|
10:00am
|
ASX Open
Opening starts at 10:00 am (Sydney) and lasts for approximately 10 minutes. Group 1 - 10:00:00 am Letters A-B (e.g. ANZ) Group 2 - 10:02:15 am Letters C-F (e.g. CBA) Group 3 - 10:04:30 am Letters G-M (e.g. GNC) Group 4 - 10:06:45 am Letters N-R (e.g. NAB) Group 5 - 10:09:00 am Letters S-Z (e.g. SEK) The opening time is randomly generated and occurs up to 15 seconds either side of the times shown above. E.g. Group 1 may open at any time between 9:59:45 am and 10:00:15 am |
|
10:00am - 4:00pm
|
Normal Trading
Orders are placed immediately into the market and transact as soon as volume is available at the specified price level. |
|
4:00pm 4:10pm
|
Pre-CSPA ("Match")
You can place, remove, or amend an order, but no trades actually take place. Orders (both buy and sell) are ranked according to their price. Who ever bids the highest (for buyers) or offers the lowest (for sellers) is placed at the front of the queue. Often there is a crossover in the middle (e.g. the lowest seller might offer $1.55 and the highest buyer might bid $1.63). The area in the middle where they cross over is called the “match”. |
|
4:10pm - 4:12pm
|
ASX Close (Closing Single Price Auction)
A random time for the close is generated by the ASX between 4:10 - 4:12 pm AEST. "Matching” share prices are weighted to find their mid-point and this becomes the closing price of the share. All trades that take place on the close transact at the same price regardless of what price an investor bids or offers. |
|
4:12pm - 6:50pm
|
Adjust
Trading has stopped for the day. New trades cannot be entered into the system but stockbrokers can change or remove existing orders. |
|
6:50pm - 6:59pm
|
Purge Orders
Orders that are too far from the market or have expired are removed from the market. |
|
6:59pm - 7:00pm
|
System Maintenance
For administration purposes. |
|
7:00pm - 7:00am
|
Closed
The system is closed. The database is updated with securities being added and removed. |
| Public Holiday | Date | ASX Trading | Business Day | CHESS Settlement |
|---|---|---|---|---|
| New Year's Day | Mon 3 January | CLOSED | No | No Settlement |
| Australia Day | Wed 26 January | CLOSED | No | No Settlement |
| Good Friday | Fri 15 April | CLOSED | No | No Settlement |
| Easter Monday | Mon 18 April | CLOSED | No | No Settlement |
| ANZAC Day | Mon 25 April | CLOSED | No | No Settlement |
| Queen's Birthday | Mon 13 June | CLOSED | No | No Settlement |
| Last Day Before Christmas | Fri 23 December | EARLY CLOSE1 | Yes | Settlement |
| Christmas Day | Tue 27 December2 | CLOSED | No | No Settlement |
| Boxing Day | Mon 26 December | CLOSED | No | No Settlement |
| Last Day Of Year | Fri 30 December | EARLY CLOSE1 | Yes | Settlement |
1 Trading ceases at 2:10pm (AEDT).
2 Substitute for Sunday 25 December.