- Earlier today, due to broker feedback regarding anticipated high volumes from the News Corporation (NWS) reweighting, ASX announced it would extend the Closing Single Price Auction (CSPA) period by 5 minutes to close at approximately 4:10pm.
- This normally would have been done by a manual over-ride of the programmed schedule but an error was made and this did not happen. This process is standard procedure, performed from time to time by SEATS Market Control.
- Therefore, the SEATS trading system closed at the “normal” time of approximately 4:05 pm, following a five-minute CSPA period.
- After consulting the market, it was decided to bring forward Overnight Trading phase by 90 minutes, from the usual time of 7:00 pm, to commence at 5:30pm. Brokers were able to trade in that time.
- ASX apologises to the market. It was a human error and not one related to any changes currently taking place at ASX. We are taking steps to ensure this does not happen again.
http://www.asx.com.au/investor/education/basics/trading_hours.htm#
