Trading Time

30-minute period starts right before the official time of trading sessions to allow brokers entering their bid and ask orders in the trading system. At the end of the 30 minutes the trading system determines the opening prices of the shares based on the following principles and the normal session of trading starts immediately:

• Number of available shares for each price.
• The remaining quantity of shares after the probable fittings.
• Net change on pre-open session prices compared to previous trading session closing prices.
• Share price.

In pre-opening session the orders will line up the orders which have better prices or equals to opening price and line up the orders which has low prices from opening price by actual prices. And for each company have just one opening price.

Trading session starts at 10 a.m. and continues until 1 p.m. Prices are the 1st condition to execute orders giving regular orders priority over cross orders. Order queue priority is determined by the following rules:

• Price has precedence in the queue: buy orders at higher prices take priority over buy orders at lower prices; sell orders at lower prices take priority over sell orders at higher prices.
• Regular (normal condition) orders take priority over special-condition orders at the same price level.
• Special-condition orders at the same price are queued by time priority among themselves.
• If multiple orders share the same price and same conditions, time is the final tie-breaker — first in, first executed.

This session runs from 1:00 p.m. to 1:30 p.m. and covers trades that require disclosures for intended cross trades, as well as trades in the brokerage firm's own portfolio or those of its owners or employees. All such trades are executed at the average price of that day's session for the relevant security.