London Stock Exchange Group Email Exchange21 Aug 2020 12:17
I recently emailed LSEG again but this time, rather than making it about Bushveld, I entitled it "General Query" and this has prompted an actual response! (not from a template!)
Here is the exchange:
"Q1: How it is possible for trades that are reported (so clearly went through) to then be deleted?"
LSEG response: "There are a number of reasons that off book trades can be cancelled or corrected, even several days after the initial trade report was submitted."
"Q2: Does a deleted sell trade then effectively become a buy when it’s deleted?"
LSEG response: "No, that trade report is cancelled but maybe rebooked if amendment is required to the original report."
In response I have emailed back asking them to elaborate on their answer to Q1; and, in response to Q2, I have asked:
"When you say rebooked do you mean rebooked as a buy (when it is a deleted sell)? And why would amendment be required to the original report?"
Additionally I have said the following :
"My concern is that large sells which are later deleted could be used to manipulate the share price downwards.
To illustrate this with an example, I noticed another share had a £200k sell reported at the very start of a trading session recently that was so large it dwarfed all other trades made that week (possibly longer). Consequently many private investors sold their shares who otherwise wouldn’t have because they were panicked by the size of the sell they saw in the trading logs. The share price then fell ~10% and then, once the trading session had finished, this massive sell was deleted. My belief is that the share price would not have fallen so significantly in just one day had it not been for that later-deleted sell.
I could be mistaken but I hope you can see where I’m coming from and why I’m keen to understand this particular area. "
Will keep you updated but it reinforces my belief that the sooner we come off AIM the better!
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