The savings in time for Law Enforcement viewing event based CCTV footage would be huge. You only need to know if an event takes place.Hi All
There has been some discussion about the cross trade.
The theory of the cross trade is that if you hold a large number of shares and need to dispose of a large proportion quickly but you do not want to crash the price of your remaining holding you go to a broker, any broker, and say I have 4 million shares can you match me off market with a buyer. I will take the closing price today. The broker will then attempt to match your sale with a buyer or buyers who is/are happy to pay the closing price.
As a retail share holder at a time when there is no interest in your company a large sale being attended to off market in this way it could be argued as being a good thing rather than a large number of at market need the money today fire sale on market dump.
When a companies shares are galloping along however the advantage of off market sales like this become less clear. It has removed 4 million from the buy side and this pressure of a genuine buyer is never shared with ordinary retail holders.
From the sellers perspective if forced to sell into the rising market they may well have on Friday set a minimum price higher than the 49 cents say 51 cents and that pressure may have been enough to have closed the price for retail higher than 49 cents.
There is no doubt that the above distorts normal considerations of a free market that determines price.
(Yes some cross trades are between related entities for a range of purposes but the annoying thing is the reason behind cross trades is not required to be disclosed so the market is always left blind.)
The final thing I would say is this if a seller tells his broker he will take the closing price and the broker tells the buyer he can have them for the closing price there is a temptation in play for someone to manipulate the closing price either up or down.
Anyone watching the drop from 54.5 cents to 49 cents could get the wrong idea just as this wealthier ordinary retail investor did in the UK only to discover he was right to feel hard done by and to challenge what happened???
https://www.fca.org.uk/news/press-releases/barclays-fined-£26m-failings-surrounding-london-gold-fixing-and-former-barclays
Clicking on the FCA links gets you the full story.
And this was not done on the Pink Sheets by no name fly by night brokers it was Barclays a member of the Golden Circle.
In short the retail client had bet on a closing price on a particular day and right up to the last he was a winner then out of the blue no not today Josephine. He thought this is suspicious. He complained Barclays who investigated and said all good nothing to see here. Unhappy he complains to FCA and guess what the evidence of what had been done was in the traders file. He had been horribly ripped off.
Don’t worry though if it happened in Australia you have the ASX and ASIC to look after you.
My opinion only DYOR
Fact Finder
Pics etc are clearer which also is a great plus.
All security applications would benefit greatly.
Military applications for sure. Latency savings of AKIDA is like being quicker on the draw.