Daytraders After Market Lounge Last day of Feb, page-48

  1. 672 Posts.
    Thanks for bringing this up peter, it's hard to read sarcasm sometimes but this is a matter that is clearly serious of nature, and I can totally understand your frustrations! To make things worse, it opened a tick higher from 67, not 66. I'm looking over the depth now and I can't believe my eyes, but after double checking, it appears Chi-X opens at 10:00. No staggered opening phases, just one flat open for all stocks. Closes 4.12pm. NO AUCTIONS as ASX does. DAY orders only, no GTC, so when it opens, it opens with a clean depth (I'm assuming?) and a flood of orders will then come in?
    I don't have access to Chi-X depth, I plan on getting it one day, but I would be inclined on checking with my broker what their policy is with Chi-X orders.

    Example from CommSec:
    https://www.commsec.com.au/support/frequently-asked-questions/681.html

    Say you placed an order to sell WMN before the S phase opens, I'm not too convinced that they would execute your trade in Chi-X, and imo, that's a clear abuse of their policy above.

    UPDATE: Ok I just called and spoke to one of their team, not a dealer though, but the lad ensured me that if you placed a sell order after 10am and before the S phase opens, they would have attempted to route your order to ChiX and get you that fill.

    I'm interested in this situation too so I'm going to confirm this with the dealers tomorrow morning as they will be able to provide me with a more definitive answer. If I get any new information, I will update you.

    But regardless, you should probably do the same with your broker. Keep me posted! I have a few brokers, so may take me a while to go through all of them. Interactive brokers, FP markets, NabTrade, IG...

    So in essence, the trades on ChiX are not really off-market, but you need to test your broker out to see if they offer Chi-X routing, and if they do, put them to the test with a real order and make sure they execute it! Will likely happen again tomorrow on WMN if it did today. Opportunity awaits.

    Good luck.
 
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