The Auction trading period of Tokyo Stock Exchange is divided into morning and afternoon sessions. The morning session is from 9:00 am to 11:30 am, while the afternoon session is from 12:30 pm to 3:00 pm. Orders are accepted by the exchange from 8:00 am and 12:05 pm respectively for each session.
LOC orders submitted between 8:00 am to 11:30 am are executed at the end of the morning session. Likewise, LOC orders submitted between 12:05 pm to 3:00 pm are executed at the end of the afternoon session. Orders submitted before 8:00 am are held and will not be placed until 8:00 am.
Please Note
- Paper trading accounts do not support the simulation of these orders types for Japanese stocks.