What is At-Auction Limit Order (ALO)?

An At-auction Limit Order (ALO) is a limit order with a specified price.

What is Indicative Equilibrium Price (IEP)?

Indicative Equilibrium Price (IEP) is the price at which the maximum number of shares can be traded if matching occurs at that time.

An IEP is calculated during the Pre-opening Session and serves as the market-opening price for the corresponding security.

It will be calculated only if the highest bid price of the buy ALO is equal to or higher than the lowest ask price of the sell ALO.

What is Indicative Equilibrium Volume (IEV)?

Indicative Equilibrium Volume (IEV) is the number of shares that could be matched at the IEP.

How are IEP and IEV determined?

Both IEP and IEV are continuously re-calculated and updated each time a new order is input during the Order Input Period of the Pre-Opening Session.