Nothing mystery about the trades - it was simply UBS acting on a...

  1. 12,525 Posts.
    Nothing mystery about the trades - it was simply UBS acting on a very, very wealthy clients order.

    The UBS client had about $200 million worth of sell orders across several A-D blue chips.

    He/she advised UBS to remove about $144 million of the sell orders 5 seconds before the end of the opening auction.

    So the buyers were expecting to be matched with $200 million worth of stock ended up being matched with only $56 million worth of stock, which naturally pushed the opening price higher.

    No glitches, fat fingers, algorithmic or HF trading involved.


 
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