IG Index chart - Enterprise Inns

[knightwest]

I have noticed on the IG index site a the chart for Enterprise Inns had a massive spike upwards to about 215 (from 175) and straight back down.

When I compared this to the intraday chart on the London Stock Exchange website, that spike was not there.

I have attached two screenshots.

I know Spreadbetting firms state in their T&Cs that they can move prices, but to do so without any good reason and this flagrantly I find disturbing.

Is there any other reason to do this than triggering stops?

 

[ns1000]

Did you actually call them a out this? It's clearly a data error rather than a spike. The fact that it's right on market opening suggests it's not a genuine price. I doubt they took any stops out or filled any limits based on the price.

If (and it's a big if) they did, then any client would have a claim under the palpable error rule in the t&c. I think you're worrying about nothing.

 

[knightwest]

Thanks ns1000,

I didn't have a position on Enterprise Inns, so I don't know if they took any stops.

Good to know that there is re-dress in the t&c to something like this, and a timely reminder, to keep an eye on other charts too.

KW