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Special crossings

Discussion in 'Beginner's Lounge' started by markrmau, Nov 13, 2004.

  1. markrmau

    markrmau

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    Any opinions on special crossings - is it a bad sign or pretty much neutral?

    (http://www.asx.com.au/markets/l4/Crossings_AM4.shtm)

    The reason I ask is that I originally thought QBE went up on close with significant volume (a very good sign, but I only had a quick look at yahoo page). However, after checking the proper order history, I realize that most of this volume was actually lower than the close price (though above what I paid) as special crossings.

    How are these events initiated? Do X and Y independently go to broker and say I want to buy / sell significant holding and then broker negotiates a price? I assume it is done so as to not influence price unduly.

    Thanks,Mark.
     
  2. tech/a

    tech/a No Ordinary Duck

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    Mark.

    The broker will have common clients buyer and seller who agree on a price and parcel size.

    Frankly My timeframe makes the relevence of any particular trade minor.

    Its just a trade like any other just that its after hrs so to speak.

    tech
     
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