CMC Markets - after hours trading?

[Fiddlers Retreat]

Hi there, been studying CMC markets (comparing with Barclays stockbrokers) - and noticed some shares/cfds continued to trade on CMC where they came to a stop on Barclays - the one in question is BT Group.

on Barclays they closed at 270p at 4:30 -- CMC is still trading (at 20:15) and has a current spread of 266.94p : 269.44p.

i asked them online, and they said its because its an american depositry reciept?

Can someone explain what they mean?

Thank you

Matt

 

[gedward3]

An ADR if im correct allows the Yanks to purchase UK shares but they hold them through American Brokerages and Banks in whats know as an ADR. I think that as the US markets are still open they still have to make a market in case somebody needs to trade.

If im wrong can someone correct me. Been 6 years since i did my SFA exams and the grey matters a bit rusty.

Hi there, been studying CMC markets (comparing with Barclays stockbrokers) - and noticed some shares/cfds continued to trade on CMC where they came to a stop on Barclays - the one in question is BT Group.

on Barclays they closed at 270p at 4:30 -- CMC is still trading (at 20:15) and has a current spread of 266.94p : 269.44p.

i asked them online, and they said its because its an american depositry reciept?

Can someone explain what they mean?

Thank you

Matt

 

[Fiddlers Retreat]

An ADR if im correct allows the Yanks to purchase UK shares but they hold them through American Brokerages and Banks in whats know as an ADR. I think that as the US markets are still open they still have to make a market in case somebody needs to trade.

If im wrong can someone correct me. Been 6 years since i did my SFA exams and the grey matters a bit rusty.

Thanks for that gedward - i assume that this would effect my position over here then, if traded through CMC.

Matt

 

[TraderRod]

Hi there, been studying CMC markets (comparing with Barclays stockbrokers) - and noticed some shares/cfds continued to trade on CMC where they came to a stop on Barclays - the one in question is BT Group.

on Barclays they closed at 270p at 4:30 -- CMC is still trading (at 20:15) and has a current spread of 266.94p : 269.44p.

i asked them online, and they said its because its an american depositry reciept?

Can someone explain what they mean?

Thank you

Matt

Hi Matt,

If I were you I wouldn't read too much into what CMC has told you.

Basically, if you're interested in trading the stocks which CMC trades after the London trading hours, drop a line to CMC and ask for a complete list of them - but because the spreads are so wide it would hardly be wise to trade them at all, unless in certain situations.

TrderRod
The CFD Traders