CAS is a common mechanism in global securities markets that allows transactions to be executed at closing prices. HKEx implemented the same mechanism (known as "U-auction phase") in 2008 to overwhelm big-money
Bit 7 0 Bit 6 0 Bit 5 Bit 4 Bit 3 Bit 2 Bit 1 Bit 0 Valve 6 Valve 5 Valve 4 Valve 3 Valve 2 Valve 1 Command Command Command Command Command Command A valve command of 1 represents an open pilot valve, meaning that pressurized air from the inlet will pass to the system valve ...