Closing Only

[GabeFabe]

Could anyone please suggest reasons why a market might be "Closing Only; unavailable to open"? 

[Caseynotes]

6 hours ago, GabeFabe said:

Could anyone please suggest reasons why a market might be "Closing Only; unavailable to open"? 

Hi, it might be because IG are taking the company off the platform if it's fallen below their market cap minimum and it becomes much harder to match buyers to sellers.

[GabeFabe]

On 10/09/2019 at 08:34, Caseynotes said:

Hi, it might be because IG are taking the company off the platform if it's fallen below their market cap minimum and it becomes much harder to match buyers to sellers.

Thanks, CN, that appears to be the case most of the time - although in some instances, the company is relatively large, with significant trading volume (on other platforms at least)

[Caseynotes]

1 minute ago, GabeFabe said:

Thanks, CN, that appears to be the case most of the time - although in some instances, the company is relatively large, with significant trading volume (on other platforms at least)

ok, I forgot to include the one about IG being at maximum risk exposure for that asset, usually more often seen in the crypto markets 🙂

[GabeFabe]

23 minutes ago, Caseynotes said:

ok, I forgot to include the one about IG being at maximum risk exposure for that asset, usually more often seen in the crypto markets 🙂

Thanks again CN - the asset i was referring to is a mid-size Australian company, so maybe the same applies 🤷🏿‍♂️

[Caseynotes]

1 minute ago, GabeFabe said:

Thanks again CN - the asset i was referring to is a mid-size Australian company, so maybe the same applies 🤷🏿‍♂️

If there has been a lot of recent one way trades being opened or if the book is heavily one sided IG needs to off set that by opening hedging positions themselves but they have a risk limit, might be that.

[GabeFabe]

1 hour ago, Caseynotes said:

If there has been a lot of recent one way trades being opened or if the book is heavily one sided IG needs to off set that by opening hedging positions themselves but they have a risk limit, might be that.

CN, you are now my official guru!! 🤣

[Guest Ben]

Hi

hoping some is able to help. My question is regarding “Closing only: Market unavailable to open” on many of the volatile US and China stocks that the mo. I’m finding it frustrating I am unable to trade stocks such as UONE, ROSUE, CTIB to name a handful all up +400% to. UONE went from $5 to $40. 
 

can some please explain why we are unable to trade theses with IG?

 

must appreciated 

Ben

[Guest Ben]

Hi

hoping some is able to help. My question is regarding “Closing only: Market unavailable to open” on many of the volatile US and China stocks that the mo. I’m finding it frustrating I am unable to trade stocks such as UONE, ROSUE, CTIB to name a handful all up +400% to. UONE went from $5 to $40. 
 

can some please explain why we are unable to trade theses with IG?

 

must appreciated 

Ben

[GabeFabe]

Hi Ben,

 I asked a similar question some time ago - the helpful response by Caseynotes is in this chain.

 

Gabe