a) Orders will be matched, if any, at Closing price. Closing price is the last Theoretical Closing Price calculated during pre-closing phase.
b) Matching of orders will be based on Price and Time Priority.

c) Closing price and quantity of contract matched are broadcasted.

d) Once Closing Auction completed, system will automatically move to Trading At Last (TAL) phase, carrying forward all outstanding and unmatched orders.

e) If there is no Theoretical Closing Price computed for any reason whatsoever, or no matching can be done at Closing Auction, the price of last trade occurred in main trading phase is designated as the closing price.

The Closing Auction phase will occur at 4.50pm on a full trading day

For more information on Trading Phases, please refer to Section 2.3 and 2.4 of the Participating Organisations’ Trading Manual.