NZX/ASX Opening Prices

[TerryA]

Does anyone know how the NZX and ASX sorts out the opening prices when the "Bid" exceeds the "Ask" at the time of Market opening.

There are some wide margins in the ASX pre-opening prices this morning, one with a Bid price 20% higher than the lowest Ask with quantity almost matching.

Who wins, the Buyer getting them for significantly less than they were prepared to pay or the Seller getting more than they wanted ?

Thanks,


PS CUE was at 26.5/20, more than 30% difference virtually at the opening bell.

TerryA I think you will find an explanation on the ASX web site otherwise ask your broker

[Snow Leopard]

I believe the basic premise is that the opening price is simply one where the number of buyers at and above that price and the number of sellers at and below that price are equal.