SETS Intra-day Auction
Daily 12:00pm auction for equity securities on SETS Order Book is now live.
The new Intra-day auction is a Midday price forming auction mechanism for trading larger sized orders.
Participants will benefit from:
- Opportunity to take part in a price forming liquidity event, timed to coincide with the traditional low point in daily volatility, and exempt from the MiFID II double volume caps in dark trading
- Only Level 1, top of book data, visible during auction, limiting market impact of larger sized block orders
- Provision of mid-day price formation for products and portfolio benchmarking, removing the need to use last or mid-price
For more information about intra-day auction, please contact our Sales Team