In the NSE pre open session, the equilibrium price is 105 bcz the maximum tradable quantity can be executed at that price. My que is: out of the total sell quantity of 36,300 shares available at 103, 104, and 105, whose sell orders will actually be executed? Is the execution based on price priority, time priority, or both?
Also, It seems that market orders do not affect the opening price in the preopen session. Is that correct?
Finally, the NSE website says:
Eligible limit orders are matched with eligible limit orders.
Residual eligible limit orders are matched with market orders.
Market orders are matched with market orders.
Could someone explain what each of these statements means ? Or share the official NSE source or rulebook that explains the matching process and order priority in the pre open session.
