Welcome To Mangazeya Mining HUB On AGORACOM

Edit this title from the Fast Facts Section

Free
Message: Re: w = bypass trade - what is it?

Can anyone shed light on who would do this and why? It always bugs me when I don't understand something like this...29,000 shares were bought by RBC with the "W" or "by-pass trade" code designation. RBC was who S Yanchukov did all the buying under earlier this year...

Further info re: bypass trades from http://www.osc.gov.on.ca/en/Marketplaces_xrr-tse_20080718_amd-bypass-orders.jsp :

They allow a Participating Organization (PO) to enter orders on the Exchange using a bypass order marker that will ensure that the PO's order will only execute against the visible portion of orders on the Exchange. This will allow POs to fulfil their "best price" obligations while giving standing only to the visible portion of orders on the Exchange. The Amendments also allow a PO to execute certain qualifying intentional crosses and prearranged trades outside of the best bid or best ask price posted on the Exchange. These qualifying trades, known as Designated Trades in UMIR, are executed within an acceptable range of the best bid/ask price for the security, as set out in the UMIR Amendments.

2
May 01, 2012 10:46AM
Share
New Message
Please login to post a reply