ARI 0.00% 2.2¢ a.c.n. 004 410 833 limited

NXXT trade for 6million shares, page-3

  1. 4,894 Posts.
    lightbulb Created with Sketch. 2388
    This is where the mid-point trades come from too... the ones ending in .2 or .7 (like 34.2 or 33.7). It works like this:
    Imagine the current bid is 34 and the current offer is 34.5.
    The broker receives a sell order at 34 (selling to the current bid).
    Within a short time the broker also receives a buy order at 34.5 (buying from the current offer).
    Instead of placing the orders on the open market, the broker crosses the two internally.
    The broker declares the trade to the ASX at the mid-point price.
    The buyer pays what they expected (34.5) and is happy.
    The seller gets what they expected (34) and is happy.
    The broker pockets the difference and is happy.
    Everybody is happy, and happy people are vulnerable people...
 
watchlist Created with Sketch. Add ARI (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.