RE: Next News20 Aug 2019 09:44
Going back to the 17.07 trade, a little digging...because these trades seem to cause some confusion ,and i have a desire to understand just what they are,and because they can be large sometimes and folk getting excited over them.
"Closing auction, which allows execution at the closing price, is a trading mechanism commonly used in securities markets across the globe. During a closing auction, market participants interested in trading at the closing price may input buy and sell orders.
The Closing Auction brings all buyers and sellers together into one common trade that establishes a clearing price for all interest"
so i am of the opinion the 17.07 trade is multiple trades ...buys and sells all shown as one trade.
also during this closing auction we get the UT trade...
Uncrossing Trade: During the auction period, there may be a point (or price) at which the best BID and best ASK match and a trade takes place. This trade on the London Stock Exchange (LSE) is known as an Uncrossing Trade. The LSE actually has many types of trade and each one is identified by a letter coding system.
I,m a little clearer on these trades now, takes a while to sink in with me.