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The Qatar Stock Exchange announced on Sunday the implementation of a randomised uncrossing mechanism for its opening and closing auction sessions, according to a statement from the exchange. The change, effective from August 30, 2026, will see the uncrossing of orders and determination of auction prices occur independently at randomly selected times within a defined window during the final minute of each respective auction period. Qatar Stock Exchange said in the statement that this adjustment forms part of its commitment to maintaining fair, orderly and efficient markets consistent with international best practices.
Under the new system each listed security will remain in the auction phase until the trading system selects it at a random moment for uncrossing, the exchange added. Eligible orders will then be matched and executed while the auction price is set in accordance with existing rules on supply and demand. The statement emphasised that all other auction procedures, order types and price determination methodologies will remain unchanged.
Financial expert Ramzi Qasimia told Qatar News Agency that the mechanism makes the exact timing of auction execution unpredictable to traders, thereby limiting opportunities for speculation or manipulation in the closing seconds of the auction window. Qasimia noted that trading sessions on the exchange begin at 9:30 a.m. with initial trades occurring at the open while the market concludes at 1:15 p.m. where the closing price has long been established through prevailing supply and demand. The expert explained to the news agency that the randomised approach applies equally to both the opening and closing phases.
Qasimia stated that auctions will no longer execute at a fixed second but instead at a system-selected point inside a short predefined window, such as between 9:29 a.m. and 9:31 a.m. for the opening auction. This setup prevents market participants from anticipating the precise instant when price discovery will finalise and attempting to influence outcomes immediately beforehand. The same principle governs the closing auction where the order book will close at an unpredictable interval before trading activity resumes at the determined price.
The financial expert added that this randomised timing mechanism has been adopted in several financial markets worldwide specifically to deter attempts to manipulate opening and closing prices. Qasimia stressed that the reform alters only the execution schedule and leaves the core method of determining prices through order matching untouched. The primary aim centres on bolstering overall market integrity at critical trading points.
According to the Qatar Stock Exchange statement the initiative aligns with principles issued by the International Organization of Securities Commissions on market integrity and transparent price formation. The exchange has applied the measure across all listed securities to promote fairness and transparency in its operations. Qasimia told Qatar News Agency that the randomised feature builds on the existing framework without disrupting established trading flows or order eligibility criteria.
