How a Trading Day Actually Works
How a Trading Day Actually Works

How a Trading Day Actually Works

Walk through a single ASX trading day — from empty order book at dawn to closing auction at 4pm.

An empty order book at 10:00am. By 4:12pm it has processed millions of orders, set prices, and settled trades. Eleven chapters covering ASX trading phases, matching engines, spreads, market makers, circuit breakers, and why ETF prices stay honest.

Coming Soon
Before Anyone Trades
The Empty Order Book
The Gathering — Pre-Open
The Opening Auction — How a Price Is Born
Your First Trade — Orders, Matching, and Priority
The Spread — The Price of Immediacy
Market Makers — The Invisible Hands
Continuous Trading — How Prices Move
The Closing Auction — Why the Last Price Matters Most
When Things Break — Halts, Circuit Breakers, and Gaps
ETFs Are Different — How Fund Prices Track Reality