All orders entered onto ASX Trade must have a price except for orders
at market and orders at best. Orders at market and orders at best
convert to a limit price after they have been entered.
The price format is in cents, e.g. $20.39 appears as 2039.
Prices are also affected by price steps.
Price steps are the minimum price multiples for a security. The multiple depends upon the market price of the security.
If BHP is trading at $17.65, its price steps are one cent. You may enter an order at $17.66 or $17.81 etc.
You cannot enter an order at $17.80.5, i.e. 17 dollars, 80 cents and half a cent or $17.80.25, i.e. 17 dollars, 80 cents and quarter of a cent, etc.
Opening and closing prices are an exception. This is due to the formula used to calculate opening and closing prices. The price steps for equities (shares) and redeemable preference shares are:
|Market Price||Minimum Bid|
|Up to 10c||0.1c|
|10c up to $2.00||0.5c|
|$2.00 up to $99,999,990.00||1c|
Market price - Any market price
Minimum price step - 0.1 cent
Example - QRSHA has a value $98. Valid order prices include $99.45.5, $98.00.1, $99.00.0 etc.