Share Dealing Discussion Area

googler

How quickly after the opening of an exchange can I/we trade?

Are some trading platforms faster than others? Reason I ask, I looked at interactive investor this morning at 8.01am (LSE opens at 08:00...?) and one of the shares I looked at had already gone up over 20% from its starting price.

The trading platform I use (iWeb) gives me an error message if I try and trade outwith LSE hours, so I certainly can't queue up a trade at 07:30, say, and have it executed at 08:00.

Are there other ways of getting the trade executed at 08:00:01 ???

premierfella

adewalton wrote: »

1. Has anyone heard / used SVS Securites http://www.svssecurities.com/
They seem to be very resaonable with the commission rates and the prices are live before you click the deal button....... looks like pretty much the normal online broker to me

I've never heard of them and they didn't show up in any comparisons when I did a recent search for online brokers, so either they are a new entrant to the online execution-only sharedealing market, they have recently reduced their sharedealing fees and/or I did not search hard enough

Clearly the current offer (30 days £1 per trade and standard £5.75 for online trades) puts them ahead cost-wise. I would of course also be interested to hear from anyone who has actually used SVS and knows how the online service compares with other cheap online brokers.

adewalton

hi,

i think they should be just like the other online brokers, they are just very competertive i think...i too have not used them as yet but it seems a half decent offer if you dont want to go down the cfd's road?
they have a great online chat option which i have used a couple of time to ask a few questions and they seem very helpfull?
the share prices are LIVE too which is i guess as it should be :-)

Biggles

googler wrote: »

Are some trading platforms faster than others? Reason I ask, I looked at interactive investor this morning at 8.01am (LSE opens at 08:00...?) and one of the shares I looked at had already gone up over 20% from its starting price.

Being able to trade at 08:00:01 won't help you much (though you can do that with most brokers). If you'd checked a live share price site like ADVFN, you would probably have found that the price had been marked up before 08:00, especially if there was any 'good news'.

googler

Biggles wrote: »

If you'd checked a live share price site like ADVFN, you would probably have found that the price had been marked up before 08:00, especially if there was any 'good news'.

There was good news, published before 8am.

Could you explain how the share price can be 'marked up' between the closing time of the stock exchange one day and its re-opening the next......?

cloud_dog

googler wrote: »

There was good news, published before 8am.

Could you explain how the share price can be 'marked up' between the closing time of the stock exchange one day and its re-opening the next......?

If its not SETs traded then I believe the Market Makers for the share in question will make the market for the shares. If a company releases good news etc overnight (perhaps from the US) then the MMs are likely to increase the opening share price (or decrease it if its bad). Similarly they move it to generate transaction flow, usually this is done in order to allow them to accumulate shares to meet a lrge buy order (and the opposite for a large sell order).

If its SETs traded then the price reflects the price someone is willing to sell / buy at. Not the same as MM but similar insofar as a trader (you, me, an institution) will place N number of shares for sale at a certain price, i.e. 10% higher than the previous close if there was good news, etc, etc.

sabretoothtigger

Some people like hedge funds can buy shares before 8am I think

2. Is there any softwear / programe etc etc that will run a trailing stop loss.

halifax do that and others too i expect

cloud_dog

sabretoothtigger wrote: »

Some people like hedge funds can buy shares before 8am I think

I read this and my immediate response was...... Its not fair

turbobob

As I understand it the pre opening auction runs from 7.50am where orders can be loaded onto SETS. These orders determine the uncrossing price which is the price that the share opens at (if you place a market order in the auction, it will be filled at the uncrossing price). If you have level 2 data you can see this happening, and if you have an account that supports direct market access (DMA) you can take part in the process. Theres also an end of day auction which determines the closing price.

sabretoothtigger

HALIFAX wrote:

It's 'Deal Time!'
Don't miss out on free commission when you buy UK equities online between 12.00pm until 3.00pm on Wednesday 20th October - save £11.95 every time you trade.

As part of our commitment to reward our customers, we are running another 'Deal Time' offer saving you £11.95 in commission every time you buy UK equities online (although stamp duty still applies).

http://www.halifax.co.uk/sharedealing/share_dealing_home.asp

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