How is the auction conducted?
The auction is conducted every day between 2:30 PM to 3:15 PM. Only member brokers of the exchange can participate and sell shares that are short delivered.
To avoid any conflict of interest, the exchange doesn’t allow members whose client has defaulted (short delivered) to take part in the auction.
There is no fixed price for the auction to happen. The exchange specifies a range within which the auction participants can offer to sell their shares.
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