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Learn how Trading Events operate

Trading Events start with a pre-announced starting price…

Trading Events are conducted as ascending-price clock auctions run over several bidding rounds.  In each Trading Event a quantity of product is offered for sale at a pre-announced starting price. 

You bid for your quantity…

Bidders bid the quantity of each product that they wish to purchase at the announced price.  There is an automated bidding option for bidders who are unable to participate while the Trading Event is underway.

Then re-bid if the price increases…

If the total demand exceeds the quantity on offer, then the price of that product increases between rounds and bidders must re-bid their desired quantity.  Only bidders that place a bid at the final winning price, win product. Generally, as the price of a product increases, the quantity of bids received for that product decreases. 

The auction runs through several rounds…

The Trading Event runs over several rounds with the prices increasing round by round until the quantity of bids received for each product matches the quantity on offer for the product.

Here’s how it looks….

how GDT Events work

We publish the results and you finalise your contract…

Shortly after a Trading Event has concluded, we publish the results on the results page of this website.  In the following days, the seller will contact the buyer to complete the contracting process, and the product is shipped through the seller's standard logistics process.

Some extra detail you should know

Bidders cannot join a Trading Event part way through: they must participate in round one and can only maintain or decrease their total bid quantities from that point.

Products can be purchased over different delivery time periods, known as contract periods. Sellers can offer product in any of the six contract periods available, each contract period represents the month of shipment.

Each Trading Event typically lasts approximately 1.5 – 2.5 hours.

Online modules available

Access a series of online modules to better understand how GDT Events work. These modules are relevant to registered bidders and anyone wishing to understand more about GDT Events.