Opening/Closing Auction

Discussion in 'Trading' started by cmastert, Feb 12, 2009.

  1. cmastert

    cmastert

    Hi All,

    Great forums. First post.

    I've done some research but I can't find a lot written about the market Opening/Closing auctions. I've read the rules for the ARCA auction and understand fundamentally what happens.

    What I don't understand is why the auction happens in the first place and why I would want to use the auction to get into and out of a position.

    If I make money I make money on the closing auction. Who is loosing money?

    Sorry if this is a noob question... but... well... I'm a noob. :)

    Chris