How do you know they aren't doing this pnh 88.....I know a few people that have accounts in both the US and Australia for trading shares and have tried the exact thing you're talking about. The basic problem is the clearing of the shares from the ASX to the OTC, and vice versa. Unless you can buy/sell on an 'announcement date' where the stock will have a dramatic change in share value...it isn't worth the time and expense. Unfortunately you can't trade between the exchanges and have the shares clear overnight as they do normally (however with this caveat), there are cases where an institution could move the shares through a stock clearing agent who is the person who actually holds the 'hard' stock certificates and transfers them between brokerage houses. As an institutional trader you could effectively have the transfer agent make that 'overnight transfer', thereby allowing them to do exactly what you are referring to. However for the common man like myself who has a brokerage account here...and one in Australia....it is pretty near impossible to do that. Unless of course....I knew the transfer agent and a brokerage bank like Macquarie who is willing to do practically anything to turn a buck....lol
MXC Price at posting:
7.3¢ Sentiment: None Disclosure: Held
