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Thanks Anton. That backs up what I thought.
Perhaps I’m not being a ‘pilchard’ after all, 60pParty….
My experience of the auction is that it's where they hoover up your shares on the cheap when you've set a stop loss :-(
The last paragraph says that the auction is a good time to buy and sell…….
NO - it is important to all, as it sets the closing price.
Can you explain this then please -
Why is an uncrossing trade important?
The uncrossing trade is only important if you are involved in the auction.
Auctions can be great places to buy and sell stock. To get involved in the auction you need Direct Market Access. You will need to find a broker that offers this
So you agree that the total volume of trades for the day includes the 33 million ?
May I suggest that if you don't understand the stock market and how it works , that you do not invest until you do !
That includes understanding the UT (closing price) at the end of the day.
Look
I am trying to help you.
At the close (4.30pm) the stock goes into auction. The buys and sells during the trading period are "matched " and a closing price is set ! that is the UT - the closing price !
NOT blooody shorts closing. I have not got time to argue with people who don't want to learn. I can see why J2 gave upon some of you guys.
The runningman - yes you pilchard the trades from all of the day.
60p, not according to this -
https://www.shiftingshares.com/what-is-an-uncrossing-trade/
Actual trades take place……
https://www.londonstockexchange.com/discover/news-and-insights/what-auction
The UT is not a real trade. It is NOT a buy or sell ! it is just the books being balanced at the close (end of the day).
Think of it like a shop cashing up the till at the end of the day.
this is the definition;
"An uncrossing trade is where buyers on the bid and sellers on the ask match together in a single trade at the end of a trading period. The uncrossing trade shows up with the trade code “UT” on the London Stock Exchange".
Normally just after the close. thus balancing the books.
P.S. - January2 is a good lad.
If you look at the last global recession, oil boomed of the subsequent recovery. Countries are finally starting to get back to normal, travel increasing and POO on the up.
Let’s face it, would you want a short on TLW moving out of the Covid days?
Surely can’t be a good thing but then again I don’t fully understand it.
Could someone clarify ?
The question is, if there was a big seller, why didn’t the SP drop significantly?
I don’t fully understand the UT trade, but fundamentally it’s matching buyers and sellers at the same price. Therefore, could it be a large institution selling to the shorters, who are buying back, at an agreed price ?
I guess we will know on Monday.
More likely a large holder getting out - after the RNS, Poo at $75 and TLW at around 45p.
RunningMan that's what I was thinking - too much of a coincidence. I'm not informed enough to know what significance a UT of 33m shares may have - can anyone enlighten me??
Could it be institutions having to sell as we dropped out of the FTSE250 today ?
At least the biggest since March last year and some other big trades after hours. Think we may see a reduction in shorts next week or perhaps a new investor taking a stake.
tradeTime currency price volume tradeValue type micCode tradeType venueOfPublication
2021-09-17T16:47:45.000 GBX 44.87 3,265,972.00 1,465,441.64 Off-Book SINT P ECHO
2021-09-17T16:47:45.000 GBX 44.87 1,513,413.00 679,068.41 Off-Book SINT P ECHO
2021-09-17T16:47:45.000 GBX 44.87 436,190.00 195,718.45 Off-Book SINT P ECHO
2021-09-17T16:40:48.000 GBX 44.87 171,056.00 76,752.83 Off-Book XOFF TNCP ECHO
2021-09-17T15:53:04.000 GBX 44.874 1,453,764.00 652,362.06 Off-Book XOFF TNCP ECHO
2021-09-17T15:35:25.713 GBX 44.87 33,851,259.00 15,189,059.91 UT XLON P
How can that be a short closing if it is a net "sell" transaction of 33m shares? Am I missing something?
Got to be the largest one since pre-COVID.
Shorts closing fast.
GL ALL