How shares & other securities are traded

In this section you can find out:

How trading on ASX works - All trading takes place electronically on ITS (Integrated Trading System).
Market phases and how do they affect trading - Every day, the market goes through a number of different phases to allow for various activities, such as establishing opening prices and end of day processing.
How orders are queued for trading - There are strict regulations governing order priorities. Orders are queued and traded according to price-time priorities. Better-priced orders trade first. If there is more than one order at the same price, the order that was placed first has priority, except in the case of crossings.
An off-ITS trade - Currently, most orders are entered into ITS and traded automatically. Some orders, however, are not traded automatically.
The ITS computer system - Technical information about ITS, how it can be accessed by other applications and how it can be used by other computer systems to automatically enter orders into the market.