---
title: "Why are bids and offers at 0 being displayed in the market depth?"
description: "You see bids and offers at 0 in the market depth because the exchange initially prices all market orders at 0 during specific trading sessions."
category: arrow
subcategory: trading-faqs
slug: why-are-bids-and-offers-at-0-being-displayed-in-the-market-depth
canonical: https://support.arrow.trade/arrow/trading-faqs/why-are-bids-and-offers-at-0-being-displayed-in-the-market-depth/
---

# Why are bids and offers at 0 being displayed in the market depth?

> You see bids and offers at 0 in the market depth because the exchange initially prices all market orders at 0 during specific trading sessions.

## Short answer

You see bids and offers at 0 in the market depth because the exchange initially prices all market orders at 0 during specific trading sessions.

## When this happens

Pre-open session (9:00 AM to 9:15 AM): All market orders you place during the pre-open session (both regular and After Market Orders or AMO) start at 0 price. The exchange terms these 'At the Open' or ATO orders. Your orders remain at this price until:

Order matching occurs during the random closure period (9:07 AM to 9:08 AM)

The exchange determines the equilibrium price

The market depth updates immediately after price discovery (around 9:08 AM)

Periodic call auction sessions: You will also see 0 displayed in bids and offers for stocks traded in the periodic call auction category. During auction sessions, the exchange initially prices market orders at 0, similar to the pre-market session.

## Example scenario

- The price for MRF was 0 before the equilibrium price discovery.
- After 9:08 AM, the market depth was updated to show the equilibrium price.

## Related

- Browse more in [trading faqs](/arrow/trading-faqs/)
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Source: https://support.arrow.trade/arrow/trading-faqs/why-are-bids-and-offers-at-0-being-displayed-in-the-market-depth/
Publisher: Arrow / iRage Broking Services LLP