How the ASX works
Trading hours, auctions, settlement and costs for Australian shares and ETFs. · about 5 min
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General education only. Not financial, tax or legal advice.
The Australian Securities Exchange (ASX) is where most Australian-listed shares and ETFs trade. All times below are Sydney time (AEST/AEDT, which changes with daylight saving).
A typical trading day (general guide)
- Pre-open from about 7:00am: orders can be entered but are not matched yet.
- Opening from about 10:00am: stocks open in staggered groups over several minutes using an opening auction.
- Normal trading until about 4:00pm.
- Closing auction a few minutes after 4:00pm sets the official close.
Exact timings, public holidays and special sessions are on the ASX website; check them before relying on this list.
Other basics
- Settlement: a share trade is generally settled two business days after the trade (“T+2”). Brokers and the ASX’s clearing systems handle this for you, and the arrangements can change over time.
- Currency and units: ASX shares trade in Australian dollars and whole shares.
- ETFs (for example ones tracking the ASX 200) trade on the exchange like shares.
- Brokerage: real brokers charge a fee per trade, a flat amount or a percentage. Our paper desk charges none.
On the desk, ASX prices come from a free feed that is delayed by roughly 20 minutes, and orders are blocked while the ASX is closed.
Key points
- ASX hours are in Sydney time and include auctions at the open and close.
- Share trades generally settle two business days later (T+2).
- Check exact hours and holidays on asx.com.au.
Checklist
Tick these off as you practise (saved in this browser).
Quick quiz
Pass mark: 2 out of 3. You can retry as often as you like.