London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Any one else just see the price jump to 1.65 briefly?
Uncrossing trade following auction!
Understand the crossover trade but don't follow why at 165 and not the current so. Is there some rationale behind that do you know?
Thanks.
It's the uncrossing trade, which occurs during auction. It's the same reason the SP dropped to 135 on close the other night, it wasn't some one being dodgy it's just the outcome of the auction.
So one of the market makers took some off another market maker at 165.
It's not just market makers taking part in an auction, anyone with direct market access can. The uncrossing trade is based on an algorithm that finds the best price available to trade the best amount of volume, and the trade is done at the end of the price determination phase. You'll notice that during auction lots of other lots appear, it's basically the trading between those guys in most liklihood. Sorry I wasn't watching the auction so can't confirm.
No problem, it's as clear as mud i know! Setsqx is just about the most complicated market in the world lol. The main reason I look forward to AVCT becoming at FTSE250 stock is moving to SETS and ridding us of manual market makers that make a mockery of AIM.
Correct,
Peeps should use the London stock exchange search and document library. There’s loads of free stuff there and some less technical FAQ’s. They explain MiFID and dispel some of the MM myths posted here. Newbies should look around the site.
Here’s the UT algorithm....
Uncrossing Trade – order book trade resulting from the out-turn of an auction match.
“7.2.5 Uncrossing algorithm
The execution price generated for an auction will be the price that:
1. maximises the executable volume
2. if more than one execution price would result in the same executable volume, minimises the surplus volume (order imbalance) at the execution price
3. if more than one execution price would result in the same surplus volume at the execution price, the concept of “Market Pressure” will be adopted:
• if there is an imbalance on the buy side at all of the prices at which the imbalance is minimized, the highest of these prices is considered
• If there is an imbalance on the sell side at all of the prices at which the imbalance is minimized, the lowest of these prices is considered
4. If the imbalance is identical for both values the auction price is selected with reference to the Dynamic Reference Price (DRP):
• if DRP is equal or greater than the highest price, then the highest price is chosen as the auction price;
• if DRP is equal or less than the lowest price, then the lowest price is chosen as the auction price; or
• if DRP is in between the two prices, then the DRP is chosen as the auction price.
Where there are only Market Orders present on the book at an auction uncrossing, then no execution will occur and any Market Orders will be expired following the end of the auction process.”
Note as we are traded on SETSqx we also see special intraday auctions...
Reference section 7 applies.
https://docs.londonstockexchange.com/sites/default/files/documents/mit201_-_guide_to_the_trading_system.pdf
Trek
what does our market cap need to be to get into the FTSE250
Trek, the price paid was 165 then.
Sounds good.
Chimers,
“what does our market cap need to be to get into the FTSE250”
This is reviewed regularly by Samantha, a friend of mine, she has been running it for years. It’s pretty good. No doubt you will be aware of the quarterly shuffles! This is a predictor.
The last update was Tues, 2nd June. The excel is colour coded to show the potential promotion and demotion candidates.
Avacta are no 426 at (then) £326m. FTSE250 entry is £604m and auto exit is £452m.
There is an algorithm that picks the promotees and exitees in that MCAP range.
http://www.stockchallenge.co.uk/ftse.php
Trek
I think the company would also need to apply for a listing on the main market though wouldn't it?
Trek That website is really good to see how all the others are doing and placed. Never knew AZN were no1
I believe that for FTSE 250 admission our sp needs to be just over £5 (so we could be eligible really very soon!) and to be eligible for the FTSE 100 our sp needs to be just over £24 so could see that maybe this year but even if it takes a few years it will be well worth the wait!
Hopefully Sir Al will have to be doing the media rounds next week at some point presuming some special news hits, the general consensus is that there could well be some significant news before this Thursdays presentation. We shall see!
AVCT cannot be in any FTSE index until it has a main board listing and is traded on Sets. Currently we are on Aim and not on SETS. Similarly I don't think we can have a NASDAQ listing without being on SETS.
Ophidian
Boohoo is a beast - any reason why they don't want to get on the FTSE100?
Chris Akers talking about Avct joining FTSE 250 perhaps he know plans are afoot to move over to main listing.
A main board listing requires quite a lot more governance processes and system to be in place for a company around reporting results etc especially. For right now AVCT probably has more than enough on their plate than trying to organise themselves for a move to the main market. Any new Board appointments with governance background would be a first obvious sign.
It is possible to be on Both AIM and SETS - in fact you cannot get an entry into the AIM50 without being on SETS. If (and it's a big if) we were to be thinking of a listing on the NASDAQ then a move onto SETS would definitely have to come first in my view.
Ophidian
If you hold AIM shares for more than two years, they are exempt from inheritance tax.
Be careful not all AIM shares are IHT exempt. Best with expert advice
If you spend everything you make from Avacta in a huge blaze of decadence before you pop your clogs you are also pay 0 IHT.
1, 2, 3, hello chucky, 5, 6...//