Help Closing Auction

[Bad_Boy1022]

HI Chaps

Can somebody tell what's the sugnificance of closing auction price. Is closing auction price the closing price of a share?


The reasons I am asking, etrade is saying the last price tarde at 16.30 for HSBC was 552.75p, but closing auction was 556.50p with 11M shares


My account shows it 552.75p close which was the last during trading hours.

 

[arabianights]

Briefly, after the close they do an auction of every stock and it all trades as one block at that price.

If you want more info have a read up on it somewhere.

 

[Bad_Boy1022]

Briefly, after the close they do an auction of every stock and it all trades as one block at that price.

If you want more info have a read up on it somewhere.

Thanks, but is the closing auction price, the official closing price?

 

[foredog]

I think the auction is the closing price but etrade are probably showing the mid price at 1630