I'm not 100% sure about the detail you're after, but this information about crossings (the type of transaction this was) may help, both you and others wondering about this particular transaction (as it did me):Crossings are a type of order where thebuying and selling broker are the same.
Crossings are strictly regulated by the ASXMarket Rules. The regulations are formulated to protect retail investors andensure the integrity of the marketplace. Only brokers may cross.
The broker may be acting on behalf ofbuying and selling clients, or acting on behalf of a client on one side of thetrade and as principal (i.e., trading for themselves) on the other. The Brokercannot act as principal on both sides of the trade.
There are two main categories of crossings,special crossings and on-SEATS crossings.
Special Crossings may take place off-SEATSat any time, including during Normal Trading.There are a number of types ofSpecial Crossings. Depending upon the type, the minimum consideration (totalsale price) ranges between $1,000,000 and $5,000,000.Special Crossings includelarge trades and large portfolios, and must be reported in SEATS.
Example special crossing
Best Stockbrokers Ltd has two clients. Onewishes to buy 100,000 PQR at $10. The other client wishes to sell 100,000 PQRat $10.
Best Stockbrokers Ltd proceeds as follows:
Checks that a Special Crossing is allowed.PQR is an equity (share). Block Special Crossings are permitted in equitieswhere the consideration is at least $1,000,000. Both the orders meet thisrequirement.
Does not check the current market for PQR.Special Crossings take place with no reference to the current market and may beat any agreed price, regardless of the current market price. For this example,the current market price for PQR is $9.70.
Enters the trade into SEATS, indicating thesecurity (PQR), the quantity (100,000), the price ($10), the buying and sellingbroker number (eg broker 789), and a parameter indicating that this is a BlockSpecial Crossing.
On-SEATS crossings
A broker may wish to perform an on-SEATScrossing because they have buying and selling clients who wish to trade at thesame price, or they have a buying/selling client who wishes to trade at thesame price as the broker wishes to trade.
In broad terms, on-SEATS crossings takeplace as follows:
The broker places an order at the crossingprice, i.e. the price they wish to cross at, then checks that a crossing marketexists. If not, they must create one. A crossing market is one where thepriority buy price is one price step or less from the priority sell price.
The broker then places a crossing order.The crossing order immediately results in a trade where the broker sells tothemselves.
Important notes about on-SEATS crossings
When a Broker enters a crossing order, thecrossing takes precedence over other orders at the same price. That is, thetime component of price-time priority does not apply.
Orders at better prices must be filledbefore a crossing can take place. That is, the price component of price-timepriority continues to apply.
Special crossings versus on-SEATS crossings
The previous examples demonstrated thedifferences between on-SEATS crossings and special crossings:
On-SEATS crossings must be visible to themarket before they occur, e.g., the crossing broker must enter an order at thecrossing price and must ensure that a crossing market exists.
Special crossings are only visible afterthey occur, the broker does not enter orders or create a crossing market.
Better-priced orders must be filled beforean on-SEATS crossing can take place. This is not the case for specialcrossings.
On-SEATS crossings may take place for anyconsideration. This is not the case for special crossings.
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I'm not 100% sure about the detail you're after, but this...
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