Aix25 May 2023 05:24
Just my observations of AIX having traded there with my shares.
The market depth is not great.
I sold into the market using small sales each time of 300 - 450 , all the orders went straight onto the book and could be seen on the aix online version of level 2 which is here:
https://market.aix.kz/details/POLY/market-depth
I had been selling for a while achieving over 2.80 GBP for my shares and sold about half my shares, which I bought back on LSE yesterday, giving a hefty gain on those shares.
Late yesterday some other traders arrived sand pushed some 5000'ish shares onto the book , it ended up with the larger buyers on the book being taken out and the depth of the buy side looking quite low. The price fell by about 70 pence
I was fortunate to have the opportunity at the higher prices but think from now on the prices will come back towards parity as more lse'ers place sell orders.
When we redom and more asian buyer are attracted, this market should improve, but at the moment is very illiquid and very fragile.
Some of my orders for 400 were split up into 5 trades of smaller amounts as the market partially filled the orders.
So in total, I have 100 trades :-)
Fortunately, most commissions are very low and percentage-based and not transaction based.
I was on the promo tariff which lasts 1 month with FFEU so all trades were commission free.
I like the fact that I can see my orders on the market and adjust them according to market pricing and volume on the buy side.
It will be interesting to see if the larger buyers ( 5000 ish ) on the buy side return today , but at closes there were only about 10 buy orders totalling about 1,200 shares.