PDSnet Glossary

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Introductory Technical Fundamental Economics Opinion Sectors International Regulatory Other Markets

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Name	synonyms = 1, variations = 2, abbreviations = 3

Publish: (0 = no, 1 = yes)

Definition

The off-setting of a buy order against a sell order in the market. Matching is done automatically by the JSE computer as soon as the price of a buy order (a bid) is the same as the price of a sell order (an offer). Bids and offers at any particular price are executed strictly in the order in which they were added to the system. At the start and finish of the day there is an opening and closing auction in which the computer conducts an auction process to determine the opening and closing prices. During the auction no matching of orders takes place. The opening auction is from 08h35 to 09h00 and the closing auction is from 16h50 to 17h00.

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