In line with Qatar Stock Exchange’s commitment to maintaining fair, orderly, and efficient markets, and consistent with international best practices and IOSCO principles relating to market integrity and transparent price formation, Qatar Stock Exchange (“QSE”) hereby announces the implementation of a randomized uncrossing mechanism applicable to the opening and closing auction sessions.
Under this enhancement, the uncrossing of orders and determination of the auction price for each listed security will occur independently and at a randomly determined time within a defined randomization window during the final minute of the respective auction session. Accordingly, during the randomization window, each security will remain in the auction phase until the system selects that security at a random time for uncrossing, at which point eligible orders will be matched and executed in accordance with existing auction price determination rules.
The purpose of introducing randomization is to mitigate the risk of disorderly trading behaviors, including attempts to influence the auction price through precisely timed order submissions, and to promote robust price discovery by reducing predictability around the exact uncrossing moment.
The randomization windows shall apply as follows:
- Opening Auction: Uncrossing for each security will occur at a random time between 9:29 AM and 9:30 AM.
- Closing Auction: Uncrossing for each security will occur at a random time between 1:09 PM and 1:10 PM.
All other auction procedures, order types, and price determination methodologies remain unchanged.
These amendments shall become effective from Sunday 30/08/2026. Market participants are advised to review their trading systems, operational procedures, and algorithmic strategies to ensure compliance with the updated auction process.
