MGC Pharmaceuticals Ltd is traded via the SETSqx trading service. This service provides execution of orders only several times a day during the official auctions should the liquidity conditions be favourable. In some cases, orders placed with stocks traded via SETSqx might remain pending for days.
When you’re all competing to buy the stock, a market order will always win. But obviously a market order is risky as you could get a terrible price, so I’d just set a limit order to make sure you don’t get screwed
The best way to think about it, is that every source is indicative. I work in financial services and we use quotes from multiple sources and look at trade volume as well to scrub quotes to get the best fit. That all costs money for the multiple data feeds.
These are the most basic requirements which most people on here are looking for, accurate pricing and fast order execution, in this instance we have neither. If 212 could improve these 2 key elements of their services it really would be hard to beat. They have fast true layer instant banking which is awesome, but whats the point of having a speedy banking system in place if we then have to wait days or weeks for order execution?
‘indicative’ within 0.01 is fine and acceptable, but this is quite a way off that.
We definitely need to see some improvements in these key areas, afterall, who wants to place a large volume market order if the price is out by a country mile?
That’s not always possible. Imagine it as an auction house with very little bidders.
We know the value of the asset today - the market cap - but with no bidders we don’t know what they want to pay.
You’re talking about a very illiquid, very small asset in the scale of the market. You’re asking them to be highly accurate on something that in the grand scheme of the market, almost zero participants care about.
There’s is no true price, that’s what I don’t think you’re getting. Indicative meaning it’s trying to give you some sort of estimate of what price it is. But there are no guaranteed prices in the stock market, it just isn’t how it works. It may seem that way in highly liquid stocks, but the reality becomes a lot more clear in illiquid stocks.