Another small UT...26 Nov 2020 13:08
Another uncrossing trade, this time even smaller, only 100 shares @ 12p
09:00:19 12.00 100
I still don't understand them to be honest but this is a great article IMO - https://aim-watch.com/project/lse-auctions-explained/
"What are auctions?
During the trading day, the matching of buy and sell orders takes place on a real-time, continuous basis known as regular trading. Auctions differ from regular trading as matching is paused for a period of time, during which orders are collected from the market, which is known as the Call Period.
At this point in time, where the electronic order book is effectively frozen, the matching algorithm considers the orders that have been entered and calculates the price that the maximum amount of shares can be executed. The goal here is to find the most popular price, rather than the highest or lowest price.
At the end of this Call Period, orders that can be matched are executed in an event referred to as an uncrossing, which takes place within a randomised 30 seconds of the end of the Call Period – meaning it could start after 1 second, after 2 seconds, after 3 seconds, and so forth.
Notably, a very large proportion of the daily volume of shares traded are executed during an auction due to the large number of participants that focus their trading during these intervals."
Can someone summarise UT's? What are peoples thoughts about these in regards to SCLP? An indication of something bigger happening in the background then? i.e. during the aution periods. I noticed a a few times this week it going to NT, but for strange amounts.
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