RE: U J O Share trades29 Aug 2020 11:02
Hi Lenin,
You would think it would be fairly easy to fix, but actually, it is not, as per Mirasols' comment.
There is actually no requirement to disclose to the market if a trade is a buy or a sell, it is just necessary to report it as a 'trade'.
There are many different trading systems from different providers, not just in the UK, but across Europe too, and all work differently, despite ultimately providing the same information.
If you want to find out more, what must be reported is detailed in the link below.
This is part of an EU directive (MiFID II) and applies to all European markets. Just implementing this requirement (plus many other changes) was the result of more than a 2 year project for all investment firms across Europe.
Trade Reporting relates to what firms must disclose to the markets (pretty much immediate disclosure, so places like LSE can make aavailable for free within a 15 minute timeframe, with some exceptions)
Transaction Reporting relates to what firms must disclose to the local regulator (T+1 disclosure, no exceptions).
No one is actually giving out false information, they are merely giving out the required information.
It is how sites like LSE interpret and try to represent the data that is the issue, nothing to do with MM's (the delayed reporting is another matter entirely). It (buy/sell indicator) is meant 'for information only', not as an accurate reflection of what is happening, and does seem to cause more confusion at time, than clarity.
Ironically, these new rules were brought in to be more transparent than what was in place before. This 'transparency' will most likely be with regard to investment firms, exchanges, brokers, regulators themselves, rater than the likes of us PI's and sites like LSE though.
https://eflowglobal.com/2019/07/29/trade-reporting-vs-transaction-reporting-whats-the-difference/