I'm new to shares and was wondering if the following statement is correct (i.e. you can only buy shares or join the line on weekdays from 8.30 am). Does the first person to purchase shares at 8.30 am Monday get the closing price from the Friday? Another question: does the market only become active from 10am and why is there a time delay e.g. with BHP/RIO the other day?
Here's what I read:
You can place a trade at any time over the internet or over the phone from 8am AEST to 7pm AEST on any trading day. However, market orders can only be placed during market opening hours which are 10am AEST to 4pm AEST, any other time you need to select a limit order. If you place an order outside the opening hours of the ASX, your order will go into a queue of orders to be placed on the market. Orders are placed onto SEATS from 8.30am AEST and cease to be placed at 4.05pm AEST
Your helps much appreciated!