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Question on Married Deal

Elf: thanks for taking the effort to paint various scenarios, it certainly helped me to understand 'married' trade better. Always learning something from you... thnx.

 

btw anymore BB stories to tell? Cannot let you off. Last weekend, ok, for you need to rest after trip to Sweden. This week, cannot already ok? hahaha. Terrible right? such imposing forumer!

 

Rogue_trader: and your answer to the 1 lot trade, informative and quite creative. One up to you too!

 

elfin, of coz u can see me "everywhere" as i am WIND in feng yun... haahaaahaahaha

 

eastonbay, i oso paiseh to ask them as most of the time, i use tele-broker (meaning i keyed in orders myself via phone) or internet, they oso earning peanuts from me, haahaaahaaaha.. we two sama sama.. bt auh, 1 lot transacted means a few things to me: "blur" investor at work (actually wanna key in 10 or 100 lots bt keyed in 1 lot instead), "tester" investor at work to find out is the counter-party BBs, "administrators" at work to "close out" any open accounts like what elfin had mentioned, "amateur" investor at work at they haven't "factored" in the brokerage charges and other related charges, "oscar awards" investor at work to "create" a masquerade, or dun think too deep, it jus 1 lot transacted lor.. hahahaahaa..

 

Thanks elfinchilde..  I have also learnt something today.  : )

 

hm...i see rogue is everywhere...haha. the following is just from my own knowledge, so do correct if wrong:

married deals are only significant if the vol 'married' is high, since that indicates BBs in action.

if it is low, then it just means a broker matched the quote in the SGX and sealed the deal before/after the opening/closing bell. it is not necessarily true that in a married deal, the buyer/seller know each other. esp so for small retail sales.  

sometimes 'married deals' you see at the end, esp for speculative counters, are SGX forced selling/buying. for shortists and contra-ists.

intraday, if you see an X on the bid/ask column, it means someone sewed up consecutive quotes, esp if you see a funny figure. eg, 0.663, as opposed to 0.66 and 0.665.

eg, if there are 50 lots on queue at 0.66 and 50 lots at 0.665, and i'm impatient and want to buy 100 lots, i can instruct my broker to sweep up the 0.66 and the quote after (the 0.665). So what's reflected on your screens will be 0.663, 100 lots, X. They round off to 3 dec places on the screen, but your actual charges will be accurate to the cents (reflected in your statement).

the brokerage charges are as applies. they take the no: of lots at that price, and the no: of lots at the other price(s), add them up, and charge brokerage+fees on the total sum of the whole trade. not on part by part.

hope this helps. :)   

 

rogue_trader and joeyttk, thanks for responding. 

 

rogue-trader, can ask your remiser about this question or not (using the one lot trade of unisteel)? I pai-seh to ask my remiser because I trade mostly online, and remiser made very little commission from my online trades.

 

cost and fees? i thought it the normal brokerage charges and blah blah, as married deal is like "a matched deal" mah, maybe the transacted price different only lor.. bt dunno if the transacted price too "far apart" for the current bid n offer, need to pay any extra charges or nt as i understand that my remisiers last time told me that they had to pay dunno how much is they "exceeded" the current pricing by more than 6 bids..

 

I agree.. regardless, I think the question is still very interesting... there are many X deal where the volume is low, maybe around 15 to 100 lots... 

 

so how do they calculate the cost and fees ? 

 

eastonbay, i personally do not think this is a married deal as 1stly, the volumes or the price of the securities is of very little value.. 2ndly, if i nt wrong, 0859hrs is the non cancel phrase, meaning people cannot key in, cancel any orders and orders will be "matched" during this timing to 0900hrs..

 

A married deal this morning for Unisteel prompted me to ask this question.

Can anyone elaborate more on married deals? The only thing I know is that it is a trade between two parties at an agreed price and volume. I would like to find out more on this, e.g. how the married deal is arranged and executed (pertaining to SGX), how do the 2 parties come together, can this be between 2 individuals (retail investors), transaction costs involved, etc etc and anything you know about married deals.  Thanks in advance for sharing...

As for the unisteel married deal, why would anyone bother to go through the trouble for just 1 lot i.e.  1000 shares (not 1000 lots).

08:59:04

2.180

1,000

X