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What is the Closing Auction Session?

The Closing Auction Session, which allows execution at the closing price, is a trading mechanism commonly used in securities markets. During a closing auction, market participants interested in trading at the closing price may input buy and sell orders.

The orders are gathered and they interact in the trading system to form a consensus closing price for each security and orders are executed at that price.

The Closing Auction Session commences immediately after the completion of the Continuous Trading Session and would last for approximately 8 to 10 minutes.

	Full-Day Trading	Half-Day Trading*
Reference Price Fixing Period	16:00 – 16:01	12:00 – 12:01
Order Input Period	16:01 – 16:06	12:01 – 12:06
No-Cancellation Period	16:06 – 16:08	12:06 – 12:08
Random Closing Period	16:08 – 16:10	12:08 – 12:10

* Eves of Christmas, New Year and Lunar New Year

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