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PROBLEM with Bid/Offer prices on the exchanges???????     

apple - 07 Apr 2004 12:33

Is there a problem with Bid/Offer prices on the exchanges?

Every buy I have made today has been below the mid price so when they are displayed on stockwatch they display as sells.

Also they display a slightly different price to the price that I paid.

I know that they were my trades because of the quantities were not round numbers & the time is correct.

So if you are filling up your ISAs today watch out, the prices may not be reliable.


apple - 07 Apr 2004 13:53 - 6 of 10

Ian,

All sites that I have looked at are showing my buys as sells.

This is expected because the price paid & the price shown are below the MID price.

However, I can't believe that I am getting such good prices every time, that is why I think that there may be something wrong with the data that the stock exchange is sending out.

None of the sites are actually showing the prices that I paid.

As I said, not the fault of MoneyAM, you can only display the data you are given.

This is just to caution others to be careful about the prices at the moment just in case the errors get bigger.

Kayak

The errors are slight but too big for rounding especially as 1 of them was a nice round number anyway so would not be rounded & has been changed to a non round number. This is the biggest error & is 2.6% out.

On the other hand, the errors could originate with my broker but hey I've got a contract note for each from their website so I'm happy.

I don't see how it can be them because various websites are showing different prices for my trades but not 2.6% different.






little woman - 07 Apr 2004 15:17 - 7 of 10

apple - they are showing your buys as sells, because when you bought someone else sold. - only one of the transactions gets recorded instead of 2.

The bid and offer are the MM prices. They are prices to "guide" your broker. If he can match buy & sells without going to the MM, then he will offer better prices. It is not an error, just how the market works.

crystalclear - 07 Apr 2004 15:54 - 8 of 10

Excuse me waiter, there is a problem here.
Your forgot to charge me for the wine and you have given me too much change.

Big problem.
Wish mine were like that!

apple - 07 Apr 2004 16:12 - 9 of 10

little woman

That does not account for the difference in price between what I paid & the price displayed for my transactions on various websites.

All I am saying is that there may be a problem & people should be careful.

little woman - 07 Apr 2004 16:19 - 10 of 10

Perhaps the system that records the trades can't go to as many decimal places as your broker, and that why they are rounded up/down! Or perhaps your broker are not recording them correctly - becuase he is matching them to another clients trade (which is the one you see), and making a little extra in addition to his commission.
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