RE:RE:RE:RE:Transactions in the end of dayMy apologies, xhj, but I am neither a trader nor a broker, just a simple (old) retail investor, so my explanation is based on my own knowledge/reading and is probably full of errors, but it is what it is -- take it for what it is worth, no charge. Those who know better are welcome to correct me, if they will. For the record, I am long and bullish on Amaya/The Stars Group and my knowledge of them goes back to their early days, like several others on this board, especially solar.
From my view, at 3:40pm yesterday, the total number of shares with BUY orders exceeded the total number of SELL orders (plural, not a single order) by 188089 and the average BUYprice offered was $46.585 (some higher, some lower). Not all of those orders would be filled by MOC@4PM, as some would be withdrawal before a trade happened. For those still 'open' at 4:00pm with a BUY price that could be satisfied with the outstanding SELL orders, a trade would happen, usually on 'close' -- the MOC.
Separately of that, an arranged trade would/could likely have been agreed, off the 'open' market, between two parties or brokerage houses, to trade shares at a fixed/agreed price, near to the market price and often agreed betwen the parties based on the size of the block of shares to be traded and according to the financial desires/needs of the two (or more) parties involved. This might be and can be totally unrelated to any share orders sitting in the MOC Imbalance queue.
Further and separate to those details, you need to be aware of the VWAP figure -- many 'arranged' contracts of block-sized BUY/SELL exchange are often determined by the VWAP at close of a given day, such as where one fund agrees to BUY/SELL shares (usually a large block) on a given day at the VWAP -- this pricing strategy takes some of the risk out of both sides of a transaction, balancing out some of the wild swings that are experienced on some/most days.
So, ther are several events/points which could have determined what you saw yesterday, or on any other given day - you need to have vision beyond just the share price and the volume for a given day, to understand what drove a specific event.
There is much more to it than that, but this is a simplilistic and short explanation. Again, simply my own 'vision' on things - those with better knowledge are welcome to correct/change/comment.
regards.
ozphoenix.