There are different types of qualifiers (orders, trades and control) and three different platforms (SEATS, ITS and OMX) so there are many combinations.The main source of information used here is Sircas Web site.
The main order qualifiers are listed below :
|
Qualifier |
Meaning |
Description |
|
A |
All or Nothing |
Fill the whole order or cancel it. |
|
B |
Good for day only |
Delete the order at trading close if not filled |
|
D |
Affirmed order |
Indicates that the operator entering the order was required to confirm
its entry by the trading platform |
|
E |
Fill and Kill |
Fill as much as possible and cancel the balance. |
|
F |
Short Sale |
Indicates a Short Sale transaction |
|
G |
Parameter 'X' crossing |
Order entered as a priority crossing. A crossing is when Bid and Ask
orders entered by the same participant are traded against each other. |
|
J |
Market Order |
Order entered to buy or sell at the current market price |
|
Qualifier |
Meaning |
Description |
|
B |
Booking purpose |
Can be used for the purposes such as correcting a client identifier. |
|
C |
Exercise call (includes warrants) |
A sale where an options holder has the right to purchase shares at a
stated price during a pre-specificed period of
time. |
|
D |
Directed reporting |
Trades may be instructed to be reported by the ASX. |
|
J |
Equity combinations |
Equity combinations refer to buy/write and sell/take strategies. These
refer to buying and selling securities conditional on an investor selling or
purchasing exchange traded options. The trade must not be less than 20
contracts. |
|
K |
Buy Back |
Debt securities trade conditional upon ownership being restored to the
original owner of the securities. When ownership is restored, the security is
returned with the principal and interest. |
|
L |
Loan |
A loan refers to a trade where one broker borrows securities to be
returned at a later date. |
|
R |
Loan Return |
This refers to trades where borrowed securities are returned back to
the original owner. |
|
T |
Exercise put (includes warrants) |
A sale where an options holder has the right to sell securities at a
stated price during a pre-specified period of time. |
|
V |
Book Values Switch |
This refers to two trades done in combination for the purposes of
hedging. The individual trade prices may not reflect the current trade
prices. |
|
W |
Market information |
A trade is reported to the market to indicate that it is no relevant
for booking purposes. |
|
G |
Prompt Sale |
This parameter is used by CHESS for settlement purposes |
|
H |
Prompt rebooking |
This parameter is used by CHESS for settlement purposes |
|
E |
Single-security transactions with a value in excess of $1,000,000 are
referred to as 'specials.' |
|
|
I |
Index replicating special crossing |
The portfolio must include at least 90% of the stocks currrently in the index and have a value of at least the
minimum amount for a block special crossing, or 90% of the current index. |
|
N |
These trades (that include best execution crossings - Parameter X)
occur overnight. |
|
|
O |
Overseas |
Overseas trades occur during the enquire phase. Overseas trades
involve purchases or sales of securities where the counter-party is a member
of an overseas stock exchange or an overseas resident. |
|
P |
Block Special Crossings (debt securities, equities, and warrants) |
Block special crossing in debt and equity securities may only occur
where the consideration is $1,000,000 and above. For equity securities, must
be of a single issuer and of the same class and paid up value. Alternatively,
if equity securities are of different classes, but they only differ in the
amount of dividend payable, the parameter must be used. Block special
crossing in warrants must have a consideration of $500,000 and above where
the warrants to be bought and sold must be of the one series. |
|
X |
Individual trades |
Individual trades refer to trades that are part of a larger trade
portfolio with a value of $5,000,000 or above that consists of at least 10
securities each with a value of $200,000 or above |
|
Z |
Other Special Sales |
|
|
F |
Forward delivery |
|
|
U |
Foreign to foreign transactions |
|
|
Q |
Overseas Delivery |
|
SEATS Control transactions are marked as "CONTRL" and have qualifiers
indicating the change from and to values of an instrument's trading state.
These control states are:
|
State |
Description |
|
OPENING |
The market is opening. Auction trades may be executed in this state. |
|
NORMAL |
the
market is open. Order entry, modification and deletion is enabled and the
trading system is matching orders and generating trades. |
|
SUSPEND |
The market is suspended. |
|
SUSPEOD |
|
|
ADJUST |
|
|
INQUIRE |
Trading system is available but orders can not
be modified. No trading occurs. |
|
PTH |
|
|
PREOPEN |
Orders can be entered, modified or deleted. No trading occurs. |
|
TH PRE |
|
|
Qualifier |
Description |
|
AC |
Auction Trade |
|
AK |
All or Nothing order |
|
BB |
Bulletin Board |
|
BL |
Best Limit Order (A Best Order is priority queued as a limit order at
the current best bid or ask on the same side of the market) |
|
BP |
Booking Purpose Crossing reporting |
|
CP |
Centre Point order (an anonymous order that enables execution at the
midpoint of the best bid and offer in the ASX Central Limit Order Book
(CLOB)) |
|
CPX |
Centre Point Priority Crossing (enables an ASX Participant to cross at
the midpoint of the best bid and offer in the ASX CLOB) |
|
CX |
Centre Point crossing |
|
CT |
Combination Trade |
|
DR |
Direct Reporting |
|
EC |
Exercise Call |
|
EP |
Exercise Put |
|
EQ |
Equity/Option Combination |
|
ET |
Special Crossing ETF |
|
FD |
Forward Delivery |
|
FK |
Fill and Kill (fill as much as possible and cancel the balance) |
|
GL |
Government Loan Reporting |
|
IB |
Index Replicating Special Crossing |
|
LN |
Loan Reporting |
|
LR |
Loan Return |
|
LT |
Late Trade |
|
L1 |
Late Trade, reason A |
|
L2 |
Late Trade, reason B |
|
L3 |
Late Trade, reason C |
|
L4 |
Late Trade, reason D |
|
L5 |
Late Trade, reason E |
|
MK |
Market Price order (a Market Order does not have a price limit and is
traded at the price available in the market) |
|
ML |
Market-to-limit order (a Market-to-Limit order is a market order that
converts to a limit price equal to the current best opposing price if it
cannot be completely filled immediately) |
|
Od |
Odd-lot order |
|
OR |
Overseas Resident |
|
OS |
Overseas Trade |
|
PST or ST |
Price Stabilisation |
|
PXT |
Priority Crossing |
|
QB |
quote display board trade report |
|
SA |
Less than marketable parcel reporting |
|
SHL |
Short Sell Order |
|
SP |
Special Crossing |
|
SX |
Portfolio Special Crossing |
|
TKO |
Market Bid |
|
TM |
Tailor-made combination |
|
UV |
Undisclosed volume |
|
VM |
Volume Match book trade |
|
WH |
Wholesale interest rate instrument reporting |
|
XT |
crossing trade |
The main order types are:
Limit (LMT) A Limit Order is entered as a defined price, the order will not execute at a worse price.
Market (MKT) A Market Order does not have a price limit and is traded at the price available in the market.
Market-To-Limit (MTL) A Market-to-Limit order is a market order that converts to a limit price equal to the current best opposing price.
Best-Limit (BST) A Best Order is priority queued as a limit order at the current best bid or ask on the same side of the market.
Short Sell (SHL) Covered Short Selling is permitted under the Corporations Act. There are also special arrangements for Market Makers under certain circumstances.
In conjunction with the order types there are also several validity attributes:
FoK: Fill or Kill, the order is cancelled if all the quantity cannot be executed immediately
FaK: Fill and Kill, fill the order now as far as possible then cancel the rest
Day: Expire at the end of the day
Exp: Expire at the instruments expiration date
Date: Expire after a certain amount of calendar days
GTC: Good till Cancelled, expire at the maximum allowed time for that particular instrument type
The new order types that were introduced were:
Centre Point Orderฎ an anonymous order that enables execution at the midpoint of the best bid and offer in the ASX Central Limit Order Book (CLOB).
Centre Point Crossing enables an ASX Participant to cross at the midpoint of the best bid and offer in the ASX CLOB.
Undisclosed Order a CLOB order type that is fully disclosed in terms of execution price but undisclosed regarding execution volume.
Iceberg Order a simple order reloading algorithm in TradeMatch, aimed at enhancing order management and controlling order signalling.
Information about qualifier codes can be found in this
document.