ASX Rules - Opening orders

  1. 24 Posts.
    lightbulb Created with Sketch. 1
    Hi all,

    I'm keen to understand how the ASX works with orders placed before opening. Can anyone advise how orders are filled? Obviously the earlier bids are filled first. But what happens if someone comes in with a higher price?

    Heres an example:

    It is 9:55am and the depth looks like this:

    Buyers
    $1

    Seller:
    $1

    Then at 9:58, someone comes in and offers $1.10 just before opening. Obviously they are the highest bid but only just submitted it.

    Am I right in assuming the $1.10 bid gets the volume and pays $1.10 to the seller?

    Thanks for helping me learn!
 
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