Auctions: one price for everyone
Explain how an auction sets a single price and why the indicative price moves during pre-open.
Module 4 of 26, Market hours, sessions and auctions. Lesson 2 of 6, about 14 minutes.
The takeaway
An auction collects every order that is waiting and finds the one price where the most volume clears, using tie-break rules when volumes are tied. The indicative price shows what that price would be right now, but it keeps changing until the single auction locks the queue and prints, which today happens once for the whole market, not staggered by company code.
This page is a public summary. The full lesson has the worked examples, an interactive exercise and a short quiz, and sits in the course. Lessons 1 and 2 of Module 1 are free and the rest need a pass.
Open this lesson in the course
General information only. It doesn't consider your objectives, finances or needs. Tickfloor holds no financial services licence and never places trades.