Periodic Call Auction (Single Price Auction)

Periodic call auction batches multiple orders that are received during a certain period of time for simultaneous execution at a single price.

The price is determined according to following methods;

  1. The entire quantity of ask quotations under the matching price and bid quotations over the matching price
  2. As for quotations at the matching price, the entire quantity on one side (bid or ask) should be executable, and the quantity of more than a minimum trading unit of quotations on the other side (ask or bid) should be executable.
Application Target Quotation Receiving Hours
Opening price at the time of market opening From quotation receiving time to market open
(08:00 ~ 09:00)
Opening price when trading is resumed after suspension of trading in the market For 10 minutes from trading resumption
Opening price when trading is resumed after suspension of individual issues
Continuous Auction (Multiple Price Auction)

During the trading hours to which periodic call auction is not applied, trade is executed in continuous auction.

When the highest bid quotation matches the lowest ask quotation among the competitive bids and asks during the continuous trading session, the execution price is the quotation received first. Trades between the matching bids and offers are executed according to the price and time priority.