What is Fixing?

Fixing is a phase of trading during the session, where the price is determined during the opening of trading and during the closing of trading. When there is a fixing phase, there is a collection of orders over a period of time, and then the opening and closing prices of quotations are determined based on these orders. In the opening phase, you can read the mood of the stock market, and it is usually an indication of the reaction to information coming from companies.

How is the closing price determined?

The closing price is a contentious topic among many investors, because its change can be really big. This runs from the fact that usually the closing price is made up of valuations of portfolios of financial institutions, including mainly mutual funds, and also from the fact that during the fixing phase deals are usually made by large investors.

What is double fixing?

Double fixing is otherwise known as single quotation. In this case the price of securities is determined on the basis of the order, which took place before the start of quotations. Characteristic of this type of fixing is that the procedure of setting the price and making transactions takes place twice a day, the first one taking place at 11: 00 and the next one at 15:00.

What is a fixing order?

This is simply an order that stands out among splits due to its validity period. The distinctive feature of this order is that it can be accepted at virtually any time during the session, however, its settlement will occur only during the next fixing phase. When the fixing phase is completed, the unexecuted part of the order is automatically deleted.