Big price difference between 212 and LSE

Morning all, I’m just watching one of my new ish investments MGC Pharma, and noticed there seems to be quite a large price difference between LSE and 212, why doesn’t 212 follow the LSE price more accurately? No doubt there is a good reason for this?

212 get pricing from Bloomberg.

It looks like there’s no feed at the moment - or exceptionally poor liquidity.

212 is also live vs “Share Price is delayed by 15 minutes”

I’m currently seeing the same bid and ask.

Screenshot 2021-09-22 at 09.40.16

And the 3.14 rather than 3.15 and 3.31 rather than 3.30 is just bloomberg being complete ■■■■

@David just checking if this was ever looked into the accuracy of the bloomberg feed, with the bid/ask always being a little bit out from reality usually by a 0.01 here and there as above.

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Thanks again Phil, I was looking at the price on ADVFN (share price) vs 212 price (ask price) and thinking why is that 0.8p out??

Of course bloomberg don’t let you even click on the website without commanding a fee!

yeah well the last trade and ask are never going to match unless the last transaction was a buy and they paid exactly what was being asked.

What T212 or I should say Bloomberg is guilty of is either getting it slightly off as we have here by a 0.01 or being slow to show an update when the ask/bid has changed. You may have seen my bloomberg thread of doom thread where I document it being weeks out of date.

The other thing is the Bloomberg website and their own Bloomberg terminal and their Bloomberg API don’t always match. For such a big name in the business their system is crap.

I havn’t seen it yet, I’ll have a read…

Grab a cup of tea its a long read :sweat_smile:

So the ideal would be that 212 make some changes and become a live trade platform, this would solve most of the issues we are seeing and remove most of the lag from the prices.

212 is a live trade platform, we are just limited to DMA.

In theory the BBG data feed should be of better quality, but as we are seeing, it’s not always that great.

Well what would make it better is to go the route of Freetrade and connect direct to the exchanges APIs etc

At the moment T212 is just an omnibus account on Interactive Brokers so it’s just the same if you had created an account directly on Interactive Brokers website.

It’s why when $hit hits the fan T212 are usually in IBKRs hands waiting for them to sort it out.

I dont know why IBKRs API doesn’t provide quotes and they make you find a liquidity provider.

I’m sure Bloomberg could be switched out, I don’t know if they have a deal with them. I know @David has one of their very expensive licences to the Bloomberg Terminal.

DMA doesn’t seem to be accurate enough, my market orders will very rarely execute at the price on screen…

I suppose it would be expensive for 212 to connect direct to the exchange?

Direct Market Access unfortunately doesn’t mean that you’ll get it executed at the current indicative ask or bid. Nor would MMs to be fair.

That I don’t know. Expensive more in dev costs and swapping over the core business without causing disruption in the migration.