8

8 Information available for clock rounds of the primary stage

(1) Before the start time of each clock round, the auction manager must provide the following information to each bidder for that clock round, using the auction system:

1.       the start time of the clock round;

2.       the end time of the clock round;

3.       for the lots of each product available for bidding:

4.        the opening price that will apply to the lots of the product in the clock round; and

5.      the clock price that will apply to the lots of the product in the clock round;

6.       the excess demand for the lots of each product, which is determined:

7.         for the first clock round – based on paragraph (a) of the definition of aggregate demand in subclause 2(1); or

8.       for any clock round other than the first clock round – based on paragraph (b) of the definition of aggregate demand in subclause 2(1) in the previous clock round;

Note: For the definition of excess demand, see subclause 2(1).

1.       the eligibility points of the bidder for the clock round;
2.        the bid increment percentage for the clock round;
3.       the eligibility requirement percentage for the clock round;
4.       any other information the auction manager considers necessary or convenient to conduct the primary stage of the auction.

(2) After the end time of each clock round, the auction manager must provide the following information to each bidder for that clock round, using the auction system:

1.       the posted prices for the lots of each product in the clock round;
2.       the posted demands of the bidder for the lots of each product in the clock round;
3.       any other information the auction manager considers necessary or convenient to conduct the primary stage of the auction.