What is an At-auction Limit Order (ALO)?
You can place an ALO during the Pre-opening Session and CAS, with a specified price. It may be matched in price and time priority at the final Indicative Equilibrium Price (IEP)* and Indicative Equilibrium Volume (IEV)**.
In the pre-opening session, unfilled ALOs with an input price not deviating 9 times or more from the prevailing nominal price will be converted to Limit Orders at the input price and will be carried forward to the next Continuous Trading Session. Unfilled ALOs will be automatically carried forward to CAS if the order price is within the permissible price limit determined by SEHK.
* IEP is the price at which the maximum number of shares can be traded if matching occurs. It will be re-calculated every time a new order is entered to AMS/3. The final IEP is determined by the SEHK.
** IEV is the number of shares that can be matched at the IEP. It will be re-calculated every time when a new order is entered to AMS/3 until the end of auction trading session.
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