Definition

ASX Trade24

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What is ASX Trade24?

ASX Trade24 is the Australian Stock exchange's exclusive trading platform which facilitates various markets and products. It offers debt, equity index and commodity products to the investor community. Alongside this, it provides full suite trading/order management functionalities to derivative investors. It works for the global audiences interested in ASX listed and related equity derivative products.

 

Summary
  • ASX Trade24 is the Australian Stock exchange's exclusive trading platform, offering 24/6 basis trade facility.
  • On the ASX Trade24 platform, a typical trading day cycle has two trading sessions. There is a night and a day trading session which makes up a single trade day.
  • ASX Trade24 platform has its own trade execution and cancellation method. It also has certain pre-defined order types which it accepts.

Frequently Asked Questions (FAQ)

What are the ASX Trade24 timings?

  • ASX Trade24 operates on a 24/6 basis, having first product pre-openings starting from Monday 6:20 AM AEST. The last product close is at 8 AM AEST on the same week Saturday morning.
  • On the ASX Trade24 platform, a typical trading day cycle has two trading sessions. There is a night and a day trading session which makes up a single trade day.
  • The night session always takes place before a day session, so that the night session of Friday's trading day will start on Thursday afternoon.
  • Trading day and calendar day are different on the platform. A trading date is a date on which transaction activity in a trading cycle took place. It means that a trading session can span multiple calendar days.
  • Every trade broadcast on the ASX Trade24 platform carries both trade date and calendar date to ensure clarity during the deal.

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How Does ASX Trade24 work?

  • On the ASX Trade 24 platform order messages need to be submitted by a permitted user via the ASX FIX OE Interface or the ASX Trading Terminal.
  • The trading platform responds to the order with an acknowledgement. In addition, the trading platform assigns a private order code for every order accepted, provided only to the participant who submitted the order. It also assigns a public order ID for identifying the order in the entire market data.
  • The private order ID is permanent and doesn’t change throughout the lifetime of the order. It remains unchanged until the order gets fully executed, expires, or is removed from the platform. The public order ID changes whenever the order gets amended, resulting in a change in priority.
  • Where an order executes aggressively, the trading platform provides an execution report detailing. The orders already resting on the order book are executed passively. For them also an execution report is received.
  • Where it is a combination instrument in hand for execution, the report will contain details of the combination instrument and all transaction logs. In addition to the order owner, a copy is sent to any user appropriately permitted to receive these copies.
  • The ASX Trade24 platform supports an optional cancellation of orders known as the disconnect facility. The disconnect is a drop in the transmission control protocol session between a participant and the platform. Users can choose to flag any order to be retained on disconnect, regardless of who initiated the drop. This is termed purging.
  • Orders on the disconnect get retained in the absence of explicit instruction. When the ASX Trade24 platform in a session allows deletions, all orders specified to be purged are centrally erased. Thus, there is no delay or waiting period when you delete something.
  • ASX Trade24 platform centrally cancels live orders when a user changes its configuration. It also happens if users process certain security maintenance events at the start of the subsequent trading day.
  • Platform participants can disable a user or an account in real-time via the ASX Admin and Risk Terminal. Such an action will result in the platform participant receiving an unwanted delete messages for all of their affected orders.
  • In all other cases central deletion of orders may be necessary, including any event of a catastrophic site failure.