Optional market assigned sub identifier for a trading phase within a trading session. Usage is determined by market or counterparties. Used by US based futures markets to identify exchange specific execution time bracket codes as required by US market regulations. Bilaterally agreed values of data type
String that start with a character can be used for backward compatibility
Opening or opening auction
Closing or closing auction
Scheduled intraday auction
Unscheduled intraday auction
An unscheduled intraday auction might be triggered by a circuit breaker.
Out of main session trading
In the context of Market Model Typology
Out of main session trading refers to both before and after session, neither auction nor continuous trading.
An auction phase where only two parties participate.
An auction phase where all trading parties participate.
An auction phase limited to specific parties (e.g. parties that have resting orders in the order book).