Yes we are in the hunt for watchlist of duel cross listed stocks on the asx . When first started this quest for a holy grail i ddnt know where start just thought it would be simple !
Well nothing can be simple in the trading world so was going along pretty smoothly finding out their was some differences just in how the words cross listed and duel listed can be different in the like rule's of trading exchange's .
Thrown off the chase a bit in compiling a list as it looks like new Zeeland alone has sixty alone listed on the asx .
When i come across peejays stock being cross listed /duel listed to the Australian exchange ?
Shit what a quandary as here is was thinking Only on the Australian exchange and the otc in America then found out it was on the Frankfurt exchange as well being traded .
Then come across the isin number !
Now this can be an interesting number that im still looking at a little when the brians in gear for it . Is there a key number letters in the code of the exchange's .Yes the opening letters do mean country of origin exchange it seems and was the quandry with coming across peejays stock .
How do you read an ISIN number?
An ISIN identifier code has 12 alphanumeric characters and includes the country in which the issuing company is headquartered, the specific security identification, and a final character that acts as a security check. The system has been adopted worldwide.
With out being to long winded its still on going the work with the duel listed cross listed stocks as a watchlist of just this will be to big i reckon . Will probably have break this down over time into a few as i find stocks on three exchanges or more maybe .
Now @verce In your question this can be interrelated in to the ability of foreign exchanges being able trade in high frequency trading looking just for an arbitrage trade . And they are faster than Frank getting out of the log to be fed .
My thinking to place the trade they need an isin number also broker who has the right to trade in the foreign market an been approved by the asx .Come across this once before as brokers i think can trade their own shares before going through the exchange if they have a matching trade on there platform .An international bot would need be approved in my way of thinking .
This is not to say they wouldn't or couldn't interfere lets say in trying create arbitrages trade etc to happen across exchanges .The London exchange close for two minutes just to disrupt high frequency trading .Some exchanges close for lunch may explain why it does also go bit quite around the market before activity starts up again in the market even here .
Anyway the stt knowledge library has this to say . Post #:16346514
BOTS
Well I've seen a lot of bots in my time and mostly they are there to either artificially prop the price or hold down the price until the professional can get their fill or offload their holding. There are different types of bots ... Usually they are driven by some form of algorithm which dictates the time/price and amount of purchase/sale order. They have no brokerage charges either. Here's a quick overview of the broad classification Ive noticed in my travels. This is not a complete list just the more common ones. So..here goes.
1. The Price Capper: A series of small sells for the same or similar parcel size which has the affect of artificially holding down the price... then every now and then when the sell Queue builds up a a big buy comes through and line wipes the sellers. On average the bot operator will be able to enter at a lower average price. Some time the bots work in tandem with large dummy sell orders to feign buyer weakness
2. The Price Propper: Essentially the opposite of 1.
3. The Confusion Bot: ... Sends a flurry of small sells and small buys frequently IE several a minute. Ive seen this happen over a series of hours or days on some stocks. It has the affect of just muddying up the waters and causes the smaller investor to just sit back and watch as they try to figure out whats going on....So the confusion Bot just buys time for the larger investor by halting in the trend action...just like a pause button on your TV. That is until they are ready to enter/exit.
4. The Accumulation Bot: Is just that, a Bot designed to accumulate a position under the radar but as quickly as possible ...It is most effective when a stock is actively traded and the BOT trades can be cloaked in amongst other trades. IE difficult to see. These are usually Id'd by their bigger parcel size than other Bots...
5. The Distribution Bot: Opposite of 4.
6. Variable Bots ...By far an away the most sophisticated and effective IMO... Denoted by differing parcel sizes different time frames with the use of dummy prop buy orders and dummy sell orders. Almost undetectable.
BOT Wars: Often you will see combinations of the above when two or more competing or colluding institutions initiate bots on a stock at he same time...If institutions are competing it will usually come down to the one willing to be more aggressive in a certain direction. Note: Accumulation/Distribution bots usually cease once they have been outed as they rely on stealth... usually once people see an accumulation bot in action they will begin drive the price higher quickly.. which promptly drives the price up out of the range of the bot.. so they start and stop regularly. Start on price weakness stop on price strength.
