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Short Term Trading Weekly thread week starting: 20th Mar, page-464

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3,165 Posts.

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23/03/17

08:43

Post #: 23561652
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Originally posted by gypaetus ↑

Cross trade has absolutely nothing to do with trading between markets - don't know where you got this idea from - and it's not something you can do. If you execute on ChiX then buyer & seller are on ChiX. Sorry don't know how to make it any simpler.

XT TM means the one (same) broker has represented both the buyer & seller and reported it via ASX Tradematch. So you want to buy XYZ @ 3.2 you place your order with Comsec and you enter the queue 10th from the top, then a different Comsec customer places a sell of XYZ @ 3.2 so Comsec msatches your trade - you jump the queue and buy from the other customer and Comsec reports the trade on TradeMatch as XT TM.

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Looks like I've misunderstood this for a looong time.
So trading between market doesn't occur. Then how do they come up with a mid point price?
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