I can't believe the swings is taken over the past 30 mins - up & down 30 points.
I have won & lost this 4 times since 12 noon. 2 mins ago I had it won at 7377
A lot of EOY options riding on the final position, so you always get a lot of volatility as people try to push it around. Settlement will be interesting as they try to sort all that wheat out from the chaff.
its not finished yet...auction action. CLOSE 7385 (7384.54 for the purists)
Can you tell me more. What was being auctioned ?
There's always a 5 min closing auction each trading day. Regular market hours 08:00-16:30 followed by a 5 min auction period, so the official closing price is only ever known 16:35 when each stock 'uncrosses' at its closing price for the day. It's where majority of trading vol happens nowadays really, usually open to relatively large changes in price.
Oof. For a few minutes there, I dared to dream. You’d think, being a Charlton fan, that I’d have grown out of that bad, soul -destroying habit by now. 🤣 congrats @Bangkokaddick in Surbiton. It’s not you who is buying my house there, is it? 😂
Oof. For a few minutes there, I dared to dream. You’d think, being a Charlton fan, that I’d have grown out of that bad, soul -destroying habit by now. 🤣 congrats @Bangkokaddick in Surbiton. It’s not you who is buying my house there, is it? 😂
On the same basis, I'm getting used to mid-table mediocrity
Those last minute deals I did must have worked! That was an up and down morning. I will happily accept the big prize as a keen amateur. Thank you for the congratulations
its not finished yet...auction action. CLOSE 7385 (7384.54 for the purists)
Can you tell me more. What was being auctioned ?
There's always a 5 min closing auction each trading day. Regular market hours 08:00-16:30 followed by a 5 min auction period, so the official closing price is only ever known 16:35 when each stock 'uncrosses' at its closing price for the day. It's where majority of trading vol happens nowadays really, usually open to relatively large changes in price.
Looks like we might have to amend the rules then...😊. Have a closing day average or something of that ilk. Not sour grapes as it's all just a bit of fun but anyone looking at the last 20 mins of trading today will see big rises & falls not akin to "normal" market trading.
People don't realise that the stock market has never been that liquid. Ever since the central order book (SETS) was launched back in 97 (?) the volume going through it has been less than 50%, the rest being bilateral block trades between the big institutions that were merely reported later.
Auctions were introduced to improve liquidity at key parts of the the day and try to counter the accusation that most of the business is opaque and reported late. Most people don't realise they are going on. You may have noticed that there is often weird behaviour in prices between 12:00 and 12:05 - not a good time to panic sell or buy, for example.
There have always been a lot of incentives to manipulate settlement prices in any market: trader P&L, derivatives markets being very sensitive, etc. Pre-electronically, market officials would make judgements and strike out dodgy trades and even sanction traders.
Electronically we designed the algos to try to cope with this automatically. Auctions help as they are volume driven, and 'uncross' the market at the price that would give the highest volume and are really the only fair way to run an auction. But we also introduced random periods for when the auction algo would run, to minimise gaming of it.
People don't realise that the stock market has never been that liquid. Ever since the central order book (SETS) was launched back in 97 (?) the volume going through it has been less than 50%, the rest being bilateral block trades between the big institutions that were merely reported later.
Auctions were introduced to improve liquidity at key parts of the the day and try to counter the accusation that most of the business is opaque and reported late. Most people don't realise they are going on. You may have noticed that there is often weird behaviour in prices between 12:00 and 12:05 - not a good time to panic sell or buy, for example.
There have always been a lot of incentives to manipulate settlement prices in any market: trader P&L, derivatives markets being very sensitive, etc. Pre-electronically, market officials would make judgements and strike out dodgy trades and even sanction traders.
Electronically we designed the algos to try to cope with this automatically. Auctions help as they are volume driven, and 'uncross' the market at the price that would give the highest volume and are really the only fair way to run an auction. But we also introduced random periods for when the auction algo would run, to minimise gaming of it.
And there I was thinking it was like New Year's Day in "Trading Places".....😆😆😆
its not finished yet...auction action. CLOSE 7385 (7384.54 for the purists)
Can you tell me more. What was being auctioned ?
There's always a 5 min closing auction each trading day. Regular market hours 08:00-16:30 followed by a 5 min auction period, so the official closing price is only ever known 16:35 when each stock 'uncrosses' at its closing price for the day. It's where majority of trading vol happens nowadays really, usually open to relatively large changes in price.
Looks like we might have to amend the rules then...😊. Have a closing day average or something of that ilk. Not sour grapes as it's all just a bit of fun but anyone looking at the last 20 mins of trading today will see big rises & falls not akin to "normal" market trading.
That is the settlement price, Golfie - that's exactly what it is designed to do, look through all that end of day volatility and come to a fair price.
People don't realise that the stock market has never been that liquid. Ever since the central order book (SETS) was launched back in 97 (?) the volume going through it has been less than 50%, the rest being bilateral block trades between the big institutions that were merely reported later.
Auctions were introduced to improve liquidity at key parts of the the day and try to counter the accusation that most of the business is opaque and reported late. Most people don't realise they are going on. You may have noticed that there is often weird behaviour in prices between 12:00 and 12:05 - not a good time to panic sell or buy, for example.
There have always been a lot of incentives to manipulate settlement prices in any market: trader P&L, derivatives markets being very sensitive, etc. Pre-electronically, market officials would make judgements and strike out dodgy trades and even sanction traders.
Electronically we designed the algos to try to cope with this automatically. Auctions help as they are volume driven, and 'uncross' the market at the price that would give the highest volume and are really the only fair way to run an auction. But we also introduced random periods for when the auction algo would run, to minimise gaming of it.
And there I was thinking it was like New Year's Day in "Trading Places".....😆😆😆
That's exactly what is was like on the floors. I once saw two guys in a full on punch up on the Minneapolis grain exchange. Being the mid west, I was waiting for someone to draw. They did go for a beer afterwards.
Those last minute deals I did must have worked! That was an up and down morning. I will happily accept the big prize as a keen amateur. Thank you for the congratulations
Congratulations! I shall watch your postings on this thread ever more carefully
And joking aside, commiserations to @golfaddick For most of us this is just a bit of fun but you are putting your reputation on the line so it's pretty impressive that you nearly called it spot on.
Now I'd be grateful if the two of you could please tip some shares and funds that are likely to double in value in the next 6 months!
Those last minute deals I did must have worked! That was an up and down morning. I will happily accept the big prize as a keen amateur. Thank you for the congratulations
Well done #BangKokaddick, some weird last minute swings, perhaps this thread is more read than we realise 🥴🥴
Comments
I have won & lost this 4 times since 12 noon. 2 mins ago I had it won at 7377
Has Golfie has just spent £100 million to push it up?
7384.54
looks like its finished at 7384.54................and I miss out by 2.04 points !!!
Congrats to @Bangkokaddick. Some dodgy Far East dealing going on ?? lol
For the last hour, I thought we were going to have to give that one to the professionals!
congrats @Bangkokaddick in Surbiton. It’s not you who is buying my house there, is it? 😂
People don't realise that the stock market has never been that liquid. Ever since the central order book (SETS) was launched back in 97 (?) the volume going through it has been less than 50%, the rest being bilateral block trades between the big institutions that were merely reported later.
Auctions were introduced to improve liquidity at key parts of the the day and try to counter the accusation that most of the business is opaque and reported late. Most people don't realise they are going on. You may have noticed that there is often weird behaviour in prices between 12:00 and 12:05 - not a good time to panic sell or buy, for example.
There have always been a lot of incentives to manipulate settlement prices in any market: trader P&L, derivatives markets being very sensitive, etc. Pre-electronically, market officials would make judgements and strike out dodgy trades and even sanction traders.
Electronically we designed the algos to try to cope with this automatically. Auctions help as they are volume driven, and 'uncross' the market at the price that would give the highest volume and are really the only fair way to run an auction. But we also introduced random periods for when the auction algo would run, to minimise gaming of it.
And joking aside, commiserations to @golfaddick For most of us this is just a bit of fun but you are putting your reputation on the line so it's pretty impressive that you nearly called it spot on.
Now I'd be grateful if the two of you could please tip some shares and funds that are likely to double in value in the next 6 months!
Just pipped to it was @golfaddick with the winner being @Bangkokaddick taking the 1st place by a whisker.
Well done everyone,
7384.54