Singapore Exchange (SGX) is introducing the “Trade at Close” (TAC) session for the securities market on 3 June 2019.
Trade at Close (TAC) is a ten minutes trading phase commencing immediately after the closing routine. The TAC session will occur at 5.06pm to 5.16pm on a regular trading day and from 12.06pm to 12.16pm if the market is trading for half a day.
Visit SGX website for more details.
Key highlights:
- Orders are matched continuously only at the fixed equilibrium price (also known closing auction price) established from the preceding closing auction.
- TAC is available for a security on a trading day only if the closing auction for that security on that day resulted in a closing auction price; correspondingly, TAC will not be available for a security if there is no closing auction price on that day.
- Unmatched limit orders from the closing routine will be carried forward to the TAC phase and will expire (with the exception of the long-dated orders) at the end of the TAC phase.
- CAP value can be viewed on the following screens and will only be displayed during TAC session.
On UTRADE web:
On UTRADE Mobile App Place Order screen :
Your order will be rejected with the following message if you have entered an invalid price during TAC session.
Example 1
Order entered with a limit price not equal to closing auction price
Rejection reason: "Premium doesn’t match fixed price"
Example 2
Order entered with a limit price when there is no closing auction price
Rejection reason: "No fixed price available in fixed price matching session"
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