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clock Created with Sketch. 29/08/18
13:33
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Originally posted by zebster
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I think you might be getting your timelines a bit confused and also missing the larger point of the discussion:unpublished ) cum-rights date , not the ex-rights date.before the Record Date. When I queried Computershare yesterday morning they said that the rights Entitlements will be issued on Friday (31/08) - two days after the Record Date. No problems there. But why has the ASX opened the rights trading window before Entitlements have been actually issued? Why are a handful of rights holders able to sell right now, ahead of everyone else? Given Computershare's earlier response, I'm actually quite surprised that anyone can trade their rights right now (i.e. before Friday).all Entitlements.all participants in the market have equal access to their rights, giving them the ability to trade them if they choose to. This is keeping with the principles of conducting an orderly market, which is the ASX's responsibility. My working thesis is that a few clients of "smart" brokers have been allowed to trade on a preemptive basis. Everyone else must wait until their Entitlements have actually been issued.
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After some reflection, as postscript might be in order. The light trading in POSR that we are witnessing might have nothing to do with any traditional CHESS-sponsored trading activity.only participants at this point in time on the sell side might be CFD providers, rather than any of the more traditional CHESS-sponsored broker clients. The CFD providers might be trying to make a market in POSR for their clients before the real game kicks off on Friday. The CFD providers would also need to by present on the buy side, but not necessarily the only buy-side participant. I know this is starting to sound pretty esoteric and I even wonder whether it's a plausible explanation. Pretty slim pickings for a CFD provider, I would have thought.
(20min delay)