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Does notAdditionally, Cboe does not operate an opening and...

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slick

14,561 Posts.

7798

16/08/24

22:26

Post #: 75247207
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Originally posted by wednesdayschild: ↑

I am thinking that your observation of CXA was one of algorithmic stock rotation as the same pattern occurred across ASX. In instance of CXA, during the day, Centre Point trades are only executed within a Centre Point pool. If you place an Order during on ASX it will not get matched on CXA. Not sure if the pools (CXA and ASX) are merged during the closing auction though. Someone else may know perhaps. To test this theory and (attempt) isolate any trade packets that may have algorithmic I plotted total IMU-ASX trades on a scatter shown below. Sell Orders are lower half and Buy Orders upper half. Note here the accumulation trades 0-052 and 0.0525. Within this range there was (near enough to) $100,000 of trades within seconds of each other with a further $200,000 on CXA. If we consider that pre-authorisation short holding packets released by a broker are generally in minimum $50,000 lots I am leaning to think it highly probable that your observation was the systematic rotation of short stock holdings. Which leaves not very much liquidity for trade for anyone else. Chart and opinions mine and mine only of course!

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Does not
Additionally, Cboe does not operate an opening and closing auction like its ASX counterpart
CXA is a thing of the past and is now known as CBOE.

And negative on its participation in opening or closing auctions.

Cheers.
IMU Price at posting: 5.2¢ Sentiment: None Disclosure: Held
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0 Great analysis

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