Sorry to be so naive but what are automated trades. I presume when a share hits a certain price the system either buys or sells with no human input. Just looking at the trades for KMR and it is nearly all AT!!!!

Another way of looking at it:

When you phone your broker to buy or sell, the trade is normally reported as an 'O' trade.

If you buy or sell over SETS (typically institutions, funds, and more savvy traders) the trade is reported as 'AT'.

Most FTSE companys are almost entirely AT trades - and the last AT trade executed is what determines the current price. There's a special Automated trade at the end of every closing auction, reported as a UT trade around 4.35pm, that determines the closing price.

Why can't I make it sound that simple???
DOH!!
Alan

Alan - I posted a description similar to yours a few years ago on the other side.

The images are a bit out of date (as is the price of ARM!!!), but the principles still apply, and it illustrates post 3 from this thread quite well.

Level 2 & SETS trading

Penny Black, huh?
Wondered why you looked so familiar :o)

Of course you need a login to use the link

thanks very much guys, definately understand now. KMR being a ftse stock, it all makes sense. Cheers