Buys higher than sells?

[bransm]

I've noticed a few times over the years and again today with BSL,both ASB and directbroking sites have quotes to buy at $9 and over with sell quotes around $8.80.

Why does this happen or is it just error?

My understanding is even if you pleace a sell "quote" brokers can sell it for more if the demand is there and not just at your quoted price??????

I know it probably has a simple answer to it,thou you dont know what you dont know,
Thanks in advance for your time and replies...

Bryan

[Packersoldkidney]

quote:Originally posted by bransm

I've noticed a few times over the years and again today with BSL,both ASB and directbroking sites have quotes to buy at $9 and over with sell quotes around $8.80.

Why does this happen or is it just error?

My understanding is even if you pleace a sell "quote" brokers can sell it for more if the demand is there and not just at your quoted price??????

I know it probably has a simple answer to it,thou you dont know what you dont know,
Thanks in advance for your time and replies...

Bryan


Only happens either pre or post market in my experience, or when a stock is coming out of a halt etc. Never happens while trading is open.

[Lizard]

ASX open & close process described here might help:

ASX - Calculating Opening & Closing Prices (http://www.asx.com.au/investor/education/basics/open_Close.htm)

[BSA]

Hi Bransm,

As PSK says it is only in open and closing auctions etc, players jockey for a position in the queue to get thier order filled and the ASX has a system in place which calculates the matching price for the open or close, some trading platforms display this matching price(Iress is one)

Cheers