Document ID: chunk:federal_register_of_legislation:F2023L00865:reg:107:p2
Version: federal_register_of_legislation:F2023L00865
Segment Type: reg
Provision Reference: reg 107 (pt 2/2)
Character Range: 155493–157618

the difference between the clock price and the opening price.

Demand change
 (5) The demand change is:
 (a) for an increase bid—the number of lots in the excess from paragraph 103(4)(b) for the bid; or
 (b) for a decrease bid—the number of lots in the shortfall from paragraph 103(6)(b) for the bid; or
 (c) for part of an increase bid or a decrease bid that is unapplied and that is treated at a time in the processing of bids as an increase bid or decrease bid by subsection 107(3)—the number of lots of the extent to which the bid is unapplied.

Posted demand for a bidder
 (6) The posted demand for a bidder for lots of a product for a clock round is:
 (a) for a bidder who made a maintain bid for the lots of the product in the clock round—the start demand of the bidder for the lots of the product for that clock round; or
 (b) for a bidder who made an increase bid or a decrease bid for the lots of the product in the clock round—the bidder's provisional posted demand for the lots of the product calculated under section 108 or 109 after the processing algorithm stops processing bids for the clock round (see paragraph (2)(h)).
Note: The posted demand could be zero. If a bidder's posted demand for the final clock round is at least one lot of a product, then the bidder is a primary winner: see section 110.

Excess demand
 (7) Excess demand for lots of a product for a clock round, means the number of lots calculated by subtracting the supply of the product from the sum of the number of lots in the posted demands of all bidders for the clock round.
Note: The excess demand may be a positive number or a negative number or zero. If excess demand is a negative number, that indicates that there is a shortfall (rather than an excess) of demand.

Posted price
 (8) The posted price for a lot of a product for a clock round is determined under column 2 of the applicable item of the following table.

Item  Column 1                                                                              Column 2
      If:                                                                                   The posted price is: