ASX limits on increments of 1c above 50c not a strict rule?

felix · 14 August 2006

ASX supposedly allows trading increments of half a cent between 10c and 50c but only allows whole cent amounts above 50c.

So how is it that I often see bids, asks, and actual trades go through at half cent increments even up to $1.335 and the like?

Is it just a guideline rather than a rule (like those Pirate codes in "Pirates of the Caribbean")? Or is the info on ASX website outdated? I've certainly bought stock at a bid of $0.645 before but haven't dared use the half cent increment higher than this so far.

GreatPig · 15 August 2006

I believe it was changed a while ago, and half-cent increments are now allowed up to $2.

GP

spitrader1 · 15 August 2006

felix said:
ASX supposedly allows trading increments of half a cent between 10c and 50c but only allows whole cent amounts above 50c.

So how is it that I often see bids, asks, and actual trades go through at half cent increments even up to $1.335 and the like?

Is it just a guideline rather than a rule (like those Pirate codes in "Pirates of the Caribbean")? Or is the info on ASX website outdated? I've certainly bought stock at a bid of $0.645 before but haven't dared use the half cent increment higher than this so far.

also felix if you are seeing trades go through over a million bucks, just so you know brokers are allowed to put those trades through at whatever price they like.

felix · 15 August 2006

spitrader1 said:
also felix if you are seeing trades go through over a million bucks, just so you know brokers are allowed to put those trades through at whatever price they like.

I have sure wondered about things like that happening.

And thanks, GP. So I can put some +0.5c bids in and not worry my broker is going to bounce my bids.

ASX limits on increments of 1c above 50c not a strict rule?

felix

GreatPig

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spitrader1

felix

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