Closing Auction and Trade-at-Last
Closing Auction and Trade-at-Last
Closing Auction:
• The closing auction is used to calculate the closing price of the Main Market and Nomu – Parallel Market.
• The closing price is set during the closing auction which takes into consideration buy and sell orders during the auction to form a fair price, as currently applied in the opening auction.
• The equilibrium price is set during the closing auction, which lasts for 10 minutes.
• The closing auction starts after continuous trading (Market Open session) at 3:00PM to 3:10PM
• The closing price will be determined at the closing auction uncross everyday randomly between 3:10:00 and 3:10:30.
• The closing price is set based on normal trades only, which are trades above SAR 15,000 in the Main Market and SAR 2,500 in Nomu – Parallel Market. If there are no normal trades during auction, the closing price is the last traded price (LTP) during continuous trading. If there are no trades during the day, the closing price is the previous day’s closing price.
• During the closing auction, market orders are displayed at the top of the order book as best bid / best ask, without price.
The closing are prices accessible in the following reports:
• Daily detailed reports
• Weekly report
• Monthly report
• Quarterly report
• Annual report
• Daily Financial Indicators
Closing Auction FAQs:
- How is the closing price determined for Equities?
- The closing price is determined through a closing auction, similar to how the opening price is determined in the opening auction.
- The closing auction is a session after continuous trading where investors may place orders (bid/ask). The trading engine will determine an equilibrium price at which all possible matching orders are executed at the end of the auction (uncross). The execution price is the closing price and becomes the next day’s reference price.
- The closing price is calculated based on normal trades only, which are trades above SAR 15,000 in the Main Market and SAR 2,500 in Nomu – Parallel Market. If there are no trades during the auction, then the closing price is the last traded price (LTP) during continuous trading. If there are no trades during the day, the closing price is the previous day’s closing price.
- When is the closing auction?
- When will the closing price be determined?
- Which securities apply a closing auction mechanism to determine the closing price?
- What type of orders are permitted during the closing auction?
Not permitted: Fill-or-Kill, Fill-and-Kill, and Negotiated Deals.
- Do negotiated deal trades affect the closing price?
- Does the closing auction affect indices calculation?
- What is the closing price in case no trades occurred during the day?
- What is the closing price in case no trades occurred during the closing auction?
- What are the fluctuation limits during the closing auction?
- Can orders be cancelled or amended during the closing auction?
- What will happen if the order is not matched during continuous trading?
- What will happen if the order is not matched during closing auction?
- Can orders be placed after the closing auction (after 3:10PM)?
- Where are the closing prices displayed on Saudi Exchange's website?
• Companies Detail Quote
• Historical Data (Performance Summary)
• Detail Quote Non Adjusted
• Last 6 traded days
The closing prices are displayed in the following reports:
• Daily Report
• Weekly Report
• Monthly Report
• Quarterly Report
• Annual Report
• Daily Financial Indicators
Trade-at-last:
• The trade-at-last session is an additional session after the closing auction where market participants may trade only at the closing price formed in the closing auction
• The trade-at-last session starts at 3:10PM and ends at 3:20PM for both Main Market and Nomu – Parallel Market, as well as tradable rights.
Trade-at-last FAQs:
- What is the trade-at-last session?
- When is the trade-at-last session?
- Which securities apply a trade-at-last session?
- What types of orders are permitted during the trade-at-last session?
Not permitted: Market orders, Session orders.
- Can orders be cancelled or amended during the trade-at-last session?
- Can orders be placed after the trade-at-last session (after 3:20PM)?