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AIM
https://www.londonstockexchange.com/companies-and-advisors/aim/aim/aim.htm
AIM'S REGULATORY LANDSCAPE
https://www.londonstockexchange.com.../regulatory-landscape/regulatorylandscape.htm
The AIM market trading is conducted by Market Makers MMs. Even though a bid and offer price is stated it may not be at or near that quoted by the MMs. At times it is easy to be caught out by clicking too soon and accepting an offer. Market spreads vary enormously from 0.1% to 33% and in some shares they can vary from minute to minute.
Most trades are done at market quote by MMs although you can trade by Limit Order or Fill or Kill. Limit Orders may be carried out at or better than the requested price. Fill or Kill is a price requested of the MMs that in theory should be accepted or rejected by them immediately - in practice there can be delays of considerable length and the position can't be cancelled. Sometimes no automated price is given and you can click to get the best price available - once clicked it cant be cancelled and trades may queue to be dealt with as the prices rises or falls.
The fastest losses and profits are made in the micro-caps which are subject to manipulation when large trades go through. The MMs can delay publication of the trade from 1 hour and usually up to 3 hours. On occasions by more than 1 day. You can see that if most trades are 1,000 to 10,000 shares and one goes through for 300,000 shares the price can flip without warning. Some shares are quoted at very low prices indeed, maybe 0.015p 0.0285c.
The NEX market is a secondary market to AIM. Some companies are quoted on AIM and NEX or just on NEX. The regulations are far less and trading is done by telephone only. Some shares have an additional NEX quote and seem not to be listed for some reason, so there are many more market participants than it seems.
https://www.nexexchange.com/
Some companies are quoted on ASX and AIM and often one market or the other controls the share. As the ASX has a minimum price of 0.1c with minimum movements of 0.1c and AIM has no minimum a tussle can take place.
Caveat emptor.
https://www.londonstockexchange.com/companies-and-advisors/aim/aim/aim.htm
AIM'S REGULATORY LANDSCAPE
https://www.londonstockexchange.com.../regulatory-landscape/regulatorylandscape.htm
The AIM market trading is conducted by Market Makers MMs. Even though a bid and offer price is stated it may not be at or near that quoted by the MMs. At times it is easy to be caught out by clicking too soon and accepting an offer. Market spreads vary enormously from 0.1% to 33% and in some shares they can vary from minute to minute.
Most trades are done at market quote by MMs although you can trade by Limit Order or Fill or Kill. Limit Orders may be carried out at or better than the requested price. Fill or Kill is a price requested of the MMs that in theory should be accepted or rejected by them immediately - in practice there can be delays of considerable length and the position can't be cancelled. Sometimes no automated price is given and you can click to get the best price available - once clicked it cant be cancelled and trades may queue to be dealt with as the prices rises or falls.
The fastest losses and profits are made in the micro-caps which are subject to manipulation when large trades go through. The MMs can delay publication of the trade from 1 hour and usually up to 3 hours. On occasions by more than 1 day. You can see that if most trades are 1,000 to 10,000 shares and one goes through for 300,000 shares the price can flip without warning. Some shares are quoted at very low prices indeed, maybe 0.015p 0.0285c.
The NEX market is a secondary market to AIM. Some companies are quoted on AIM and NEX or just on NEX. The regulations are far less and trading is done by telephone only. Some shares have an additional NEX quote and seem not to be listed for some reason, so there are many more market participants than it seems.
https://www.nexexchange.com/
Some companies are quoted on ASX and AIM and often one market or the other controls the share. As the ASX has a minimum price of 0.1c with minimum movements of 0.1c and AIM has no minimum a tussle can take place.
Caveat emptor.
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