Australian (ASX) Stock Market Forum

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

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felix

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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 Or is the info on ASX website outdated?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.
 
I believe it was changed a while ago, and half-cent increments are now allowed up to $2.

GP
 
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 Or is the info on ASX website outdated?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.
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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.
 
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.
Click to expand...

:eek: 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.
 
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