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Shares priced at 0.0025

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Redbeard

Joined
4 January 2017
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Can anyone explain to me why I am seeing trades for ERA shares at 0.0025. When I can only place a trade for 0.002 or 0.003?
My trading platform does not let me put an order in for 4 decimal places. So how is this being done?
 
The process is via the "ASX centre point" system.
Generally only available to retail via phone trades, to my knowledge.

ASX Centre Point

Australia’s largest anonymous matching system offering the potential for superior trading strategy outcomes through deep liquidity, price improvement, diversity of counterparties and quality execution.
www.asx.com.au
 
Redbeard said:
Can anyone explain to me why I am seeing trades for ERA shares at 0.0025. When I can only place a trade for 0.002 or 0.003?
My trading platform does not let me put an order in for 4 decimal places. So how is this being done?
Click to expand...
If you look in your course of sales you will see cxxt. This means brokers are crossing orders at that price.
 
Thanks for the reply. My platform only lists time,price and quantity in the course of sales.
So I looked up 'crossing orders'. So essentially, off market and the price is reported to the ASX.
ok, i understand
 
As a retail buyer or seller, you might get a centre point price, but you won't know it until after the trade.
It's not off market, generally. Depends on the condition code.

In house trades (transfer trade between holders with the same broker) have a different condition code, can't remember what it is.
Edit, it's NXXT if it's in house.
 
NXXT if it is between Commsec clients am not sure if other platforms/brokers use the same code when they do internal trades

Chi-X ( or whatever it is called now ) openly trades in very small increments via their own exchange 0.25 cents on one share i am watching .
 
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