Was this order a direct sale between two parties?

Discussion in 'Order Execution' started by Risepoint1879, Mar 11, 2019.

  1. 58k shares were bought at 29.40, way below the current bid-ask. Is this an example of a sale between two direct parties?
     
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  2. %% Sounds like it.

    Or bad data, or the wide bid/ask got wider.And if 7:45 is execution time, wide/bid ask got wider, typical lack of liquidity in odd hours........:cool::cool:
     
  3. Cash trade - settling cash. Is there some corporate action they wanted to avoid? Or a misprint/error.
     
  4. sle

    sle

    Could also be something reported late (e.g. an option delta cross) and many other things, no?

    PS. 58k x $30 = 1.7 millions, so is too small to be a proper block, I'd recon, but that depends on the stock
     
  5. Fain

    Fain

    Check for condition does on the executions. Trade through exemptions or special conditions are tagged to the execution. Easiest way to confirm if an execution is outside the norm. . . Check "QRM" and click for previous executions in the timeframe if you have a Bloomberg Terminal.

    Cheers,
     
  6. vanzandt

    vanzandt

    I'm out of my league here when sle and Jacobsen check in with their insights.... but fwiw.... you're obviously new to this stuff ... bearing that in mind... I have no idea what the mechanics are behind paints like this but I can assure you, start paying attention because you will see these dozens of times/day on L2, especially in extended hours and on high-vis type stocks or stocks that just reported earnings. For the most part they will not trigger any stops you may have set. Its certainly a good question on your part though... it means you're serious in your endeavors. Kudos.