An opening auction sets the first official price of a session from accumulated orders. It matters less than the close for valuation purposes but is thinner, and therefore cheaper to move.
instruments and markets · updated 2026-10-16
Where does opening auction come up?
This term is used in the following manipulation techniques, each explained in full on
its own page.
Marking the open— Marking the open is trading into a market's opening auction or first minutes to move the official opening price, which is thinner and cheaper to influence than the close but still feeds benchmarks and guarantees.
See also
Closing auction— A closing auction gathers orders into a single batch to set the official closing price. Concentrating the close into an auction im…
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