Hi,

This is probably explained somewhere but I don't know what to search. Anyway, can someone in the know explain to me please how the opening price each day is calculated when there are sellers showing sell price lower than buyers buy price?

Not sure how well this will copy and paste but the below is an example from FNP for today before ASX opened. There are two buyers willing to buy 3371 at $2.50 but there is one seller willing to sell 1020 at $2.20, plus a bunch of others that also overlap. What is the calculation/process for matching for me to work out where this may open?

Cheers
2 3,371 $2.500
1 5,000 $2.420
1 2,000 $2.400
5 14,251 $2.380
1 4,000 $2.370
1 2,000 $2.360
2 11,200 $2.350
1 21,645 $2.310
2 10,750 $2.300
2 14,360 $2.220
18 88,577


$2.200 1,020 1
$2.360 450 1
$2.370 5,900 2
$2.390 23,231 1
$2.440 2,200 1
$2.450 20,000 1
$2.460 889 1
$2.470 1,600 1
$2.490 3,974 1
$2.800 4,000 1
63,264 11