The ASX Grain Futures and Options market migrated to ASX 24 on Monday 24 October 2011. As a result, Special Trade functionality on ASX has been replaced with Block Trade functionality on ASX 24.
The purpose of the Block Trade is to efficiently facilitate large order execution. The minimum threshold for Block Trades on ASX 24 has been increased to 500 contracts. A key difference with the Block Trade on ASX 24 is that both sides must meet the minimum threshold. That is, while it is still possible to amalgamate orders, each order must satisfy the threshold criteria of 500 contracts.
It is envisaged that this change, combined with the extended Trading Hours on ASX 24 will encourage a larger percentage of "on-screen" market activity.
ASX 24 - Block Trade (effective Monday 24 October 2011)
|ASX 24 - Block Trade|
|Minimum Size - Futures||500 contracts|
|Minimum Size - Options||200 contracts|
|Included in Daily Trading Range||No|
More information concerning the Block Trade Facility.