What do CX, CXXT, and NXXT mean?
CX is a trade that has occurred in ASX CentrePoint at the current midpoint price. The midpoint price is determined by ASX to be the midpoint between the current ASX bid/offer spread.
CXXT is a cross trade or crossing that has occurred in ASX CentrePoint at the current midpoint price.
What is a cross trade (XT)?
A cross trade occurs when a broker executes an order to buy and sell the same security at the same time, in which both the buyer and seller are clients of the broker.
A cross trade is represented by XT in the course of sales. If your order has been cross traded, your contract note will state this.
What does “NXXT” mean in course of sales?
NXXT is a type of crossing or crossed trade that your broker (CommSec) reports to the ASX.
An NXXT is a crossing that has occurred at the current NBBO Price (known as an “NBBO Crossing”). This type of trade typically occurs when CommSec has managed to automatically match your order with another CommSec client order through the CommSec Crossing System.
NBBO stands for the National Best Bid and Offer Prices. The national best bid price is the highest price that all buyers are willing to pay for a particular stock, regardless of what trading venue it is being published on. Similarly, the national best offer price is the lowest price that all sellers are willing to accept for a particular stock.
Does it affect the price of my trade?
As the crossing has been reported at a price within the current NBBO price, you are not disadvantaged in any way. In fact, your order may have been executed faster than it would have if sent to public trading venues, or at a price better than that listed on the public trading venues.
