What is an At-auction Order?

What is an At-auction Order?

An At-auction Order is an order without a specified price. It is entered into the OTP-C for execution at the final Indicative Equilibrium Price (‘IEP’). It holds a higher order matching priority than an at-auction limit order and will be matched based on time priority at the final IEP.

Before the market opens, any outstanding At-auction Orders placed during the Pre-opening Session will be cancelled.