Periodic call auctions are specifically designed for trading illiquid stocks, ensuring fair price discovery and minimizing price manipulation. Here’s the schedule of these sessions, which are divided into Order Placement, Order Matching, and a Buffer Period
| Session No. | Order Placement | Order Matching | Buffer Period |
|---|---|---|---|
| 1 | 09:30 AM – 10:15 AM | 10:15 AM – 10:23 AM | 10:24 AM – 10:30 AM |
| 2 | 10:30 AM – 11:15 AM | 11:15 AM – 11:23 AM | 11:24 AM – 11:30 AM |
| 3 | 11:30 AM – 12:15 PM | 12:15 PM – 12:23 PM | 12:24 PM – 12:30 PM |
| 4 | 12:30 PM – 01:15 PM | 01:15 PM – 01:23 PM | 01:24 PM – 01:30 PM |
| 5 | 01:30 PM – 02:15 PM | 02:15 PM – 02:23 PM | 02:24 PM – 02:30 PM |
| 6 | 02:30 PM – 03:15 PM | 03:15 PM – 03:23 PM | 03:24 PM – 03:30 PM |
💡 Key Takeaways:
- Place your buy/sell orders during the Order Placement phase.
- Orders are matched in the Order Matching phase based on price and priority.
- The Buffer Period ensures smooth transitions and system updates between sessions.
This structure ensures orderly trading, better price discovery, and enhanced transparency for illiquid stocks.