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.



This site is directed and available to and for the benefit of Australian residents only. © Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and both entities are incorporated in Australia with limited liability.

By clicking on the "Download the CommSec App" buttons above, you will be directed to itunes.apple.com or play.google.com. These sites are not affiliated with CommSec and may offer a different Privacy Policy and level of security.