What is Centre Point?
ASX Centre Point is Australia’s largest and most liquid anonymous mid-point matching system. Centre Point’s functionality matches buyers and sellers at the mid-point of the national best bid and offer (NBBO).
Why trade Centre Point?
Centre Point provides price improvement opportunities when trading on the ASX, in over 560 listed securities. Furthermore, Centre Point orders match anonymously reducing market impact costs and the risk of information leakage. ASX is a regulated market operator and therefore has no proprietary interest in any execution in Centre Point.
Centre Point Block
Centre Point Block is an anonymous Block matching service. It supports a participant-defined Minimum Acceptable Quantity (MAQ) level for execution. MAQ functionality enables participants to control minimum fill size. Centre Point Block functionality includes matching block orders against multiple Centre Point orders to leverage liquidity.
Centre Point Preferencing
Centre Point Preferencing supports participants crossing their orders within Centre Point and ahead of other counterparties. Once a participant opts in for preferencing, all incoming Centre Point orders from that participant will automatically preference the same participant’s resting orders in Centre Point. Orders that are preferenced are executed in time priority, subject to any MAQ.
ASX Sweep is a dynamic single transaction, increasing opportunity for price improvement and larger fill rates by routing orders through Centre Point and then Trade Match. The low latency Sweep functionality presents an efficient means of accessing both pools of liquidity with no risk that the best TradeMatch price will move and be missed while the order is executing in Centre Point. Any unfilled volume will rest in TradeMatch.
Centre Point Participants routing into Centre Point Sweep and Centre Point Block