ASX Centre Point
Where the focus is on quality
ASX Centre Point, Australia’s largest anonymous mid-point matching system, is purpose-built to deliver a superior trading outcome. Built with an in-depth understanding of today's financial markets challenges and the very specific needs of investors, it offers more of the flexibility, control and protection you need to meet your trading goals.
Housing the deepest source of dark liquidity available on or off the Australian financial markets means ASX Centre Point delivers greater fill rates. And when orders are routed with ASX Sweep, users gain seamless interaction with ASX TradeMatch, Australia's largest source of lit liquidity.
ASX Centre Point is Australia's only dark pool matching system which can offer this true integration with the lit market. It's this access which sees around 8% of on-market trading being directed through ASX Centre Point.
Meaningful price improvement
ASX Centre Point delivers meaningful price improvement with every execution across all listed securities, with over $300m in price improvement delivered since inception.
All ASX Centre Point orders are matched and executed anonymously. Users can further protect against information leakage or 'pinging' by adopting one of the system's Advanced Order Types, which are designed to give users greater control over counterparty engagement.
There are over 60 trading participants active in ASX Centre point, trading more than 700 listed securities. As the system is open to all trading participants it is able to offer users the widest range of potential counterparties including long-term, wholesale and retail investors.
Achieve better execution
ASX Centre Point offers a suite of Advanced Order Types designed to maximise price improvement, protect against information leakage and uncover natural block liquidity.
Centre Point: Non-displayed liquidity matched at the mid-point or other permitted price step inside the National Best Bid and Offer (NBBO).
Centre Point Block: Attach a user-defined Minimum Acceptable Quantity (MAQ) to your ASX Centre Point order and only execute when the MAQ is satisfied. Helps users source natural block liquidity, improve fill rates and protect orders from 'pinging'.
Single Fill MAQ: Orders executed only where the MAQ is satisfied by a single, opposing order. Enables users to discover natural block liquidity, minimise information leakage and have some level of control over which counterparties they engage with inside the system.
Dark Limits: Orders executed at any permitted dark price up to your order's limit price. Enables users to leverage price improvement opportunities within the NBBO.
ASX Sweep: In one transaction, seamlessly interact with dark liquidity in ASX Centre Point and lit liquidity in ASX TradeMatch. Remaining liquidity rests in ASX TradeMatch. ASX Sweep offers the fastest possible routing between these two liquidity venues for aggressive order flow whilst minimising routing signals and increasing execution certainty.
ASX Sweep Dual Post: Simultaneously rest orders in ASX Centre Point and ASX TradeMatch at limit +1/2 tick with no risk of over fill.
Centre Point Preferencing: Allows users to maximise their crossings regardless of that order's position in the queue.