Re the OS XT (overseas cross trade) in the mornings
I understand these are US ADR's being converted to ASX SSN shares with the broker then selling on the ASX taking advantage of the arbitrage.
In today's case the broker bought at $1.10 in the US converted to Aus SSN shares $1.10/20 = 5.5c then flogged them to us at 5.7c.
So it's not accumulation or shares heading OS it's plain old profit taking
This is why we need to the AMEX price to go up as long as ADRS are cheaper than Aus brokers will milk it IMO
- Forums
- ASX - By Stock
- SSN
- some calculations
some calculations , page-36
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