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How is auction conducted?
The auction takes place every day between 2:00 PM and 2:45 PM. Only member brokers of the exchange can participate and sell shares that are short-delivered. To avoid conflicts of interest, the exchange does not allow members whose clients have defaulted (short-delivered) to participate in the auction. There is no fixed price for the auction. The exchange specifies a range within which auction participants can offer to sell their shares.
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