Post IPO auction

Thanks. To my understanding this is when the IPO cross orders can be entered in. Imbalance is likely shown later.

Imbalance can only be shown once multiple quotations are in.... imbalance is just a derivation from submitted quotes.

So the source data is the quotes themselves, which aren't that many....

On other platforms I've watched a few IPOs that I've been in come to market and it's prone to manipulation from what I can see. I've heard a few podcasts of market makers involved in IPOs where there is a short position built into that IPO which needs to be cleared over time. Maybe there's an edge to be found here....
 
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