Quick Fix
If CommSec flashes an “indicative price” during pre-market or auction windows, think of it as a rough guide, not a locked-in deal. Your order won’t actually fill until the market locks in a final price at auction time. Always double-check the executed price in your trade history once the auction wraps up.
What’s Happening
CommSec throws out an “indicative price” to give you a sneak peek at where buy and sell orders might meet during auction windows—pre-open, closing, or volatility auctions. Don’t mistake it for a firm quote you can bank on. CommSec’s system cooks it up using the live order book, not the official ASX price. As of 2026, they still show these numbers during ASX auction phases to keep things a little clearer for everyday traders CommSec Support Home.
Step-by-Step Solution
- Locate the indicative price
Fire up the CommSec app or website, then drill down to Quotes → ASX → [Stock]. When the pre-open (8:55–9:00 AM AEST) or closing auction (4:10–4:12 PM AEST) kicks in, a little banner pops up: “Indicative Price: $X.XX.” - Understand the auction outcome
Market orders won’t actually execute until the auction price is locked in at 9:00 AM or 4:12 PM, and even then only if it’s at or better than your indicative price. Limit orders? They’ll only fill if the final auction price hits your limit or beats it. - Compare with executed trades
Once the auction shuts down, head to Portfolio → Trades → Executed. The price you actually paid might wiggle a cent or two from the indicative number thanks to rounding or hidden liquidity. With liquid stocks, the gap is usually just 1–2 cents. - Check the ASX auction report
Got a big order on the line? Head to ASX Market Data and pull up the “Auction Summary.” That’s where you’ll find the official clearing price and how much volume actually traded hands.
If This Didn’t Work
- Pre-market order rejected – Make sure you tagged the order as “Pre-market” in the ticket and that the stock is actually on the ASX auction list. Not every stock plays along in pre-market.
- Indicative price missing – Hit refresh on the quote page or re-enter the ticker. If the banner still won’t show, the auction window may have already slammed shut. Wait for the next one.
- Large price gap at open – When the indicative price leaps more than 5% from yesterday’s close, run a quick check on the stock’s ASX announcement page for dividends or splits that might explain the jump.
Prevention Tips
Limit orders are your friend during auction windows—they let you cap your risk. Try setting limits 2–3% inside the indicative range you see on the banner. Skip market orders before the auction window closes; once 9:00 AM AEST (or 4:12 PM for closing) hits, market orders flip to continuous trading and can fill at a price you won’t like. If you’re trading something jumpy, keep an eye on the indicative price in the CommSec mobile app every 30 seconds from 8:55 AM AEST so you’re not caught off guard by a surprise fill.
