Re: Odd trade!!
in response to
by
posted on
Apr 26, 2018 09:25PM
I found it, thanks for pointing it out. Its listed on the tmxmoney site, but not on stockwatch....which is curious. Here's what is says on the TMX site about these TSX Buy-Ins:
In order to support CDS in cases where a seller has failed to deliver a security following a trade, TSX has developed a special "Buy-In" facility to locate alternate sellers capable of immediately delivering the security, therefore enabling CDS to quickly and efficiently clear the failed position.
So there was a sale it would seem of 3000 shares....where the seller failed to deliver the shares. Why? The most logical reason I can think of is that it was a short sale. Why was the seller forced to locate shares?
This gets to the nuts and bolts.....and while I know some say "well just buy shares, they're available...I can see it on the ask side, there are 50 lots sitting right there". Just because there's something on the ask....doesn't mean there are actual shares with a cert number available. Its a dirty little game.
So to locate actual shares the Price had to jump all the way to $1.46...while it would "seem" there were shares available for $1.38 or so.....but it seems to me those shares at $1.38 probably didn't really exist.