sets and seaq

ivor31

Member
80 1
Hi all
Please could someone explain the differences between sets and seaq.I know sets took over seaq sometime this year but there must still be stocks trading on one or the other.Reason for asking is upgraded to lse level two with mybroker and some stocks will not display in the sets window and vice versa.I have looked on the ftse website but can not find a list for them both.Any info will be much appreciated.
Thanks
ivor
 

CityTrader

Established member
665 26
Never heard of mybroker before, are they a member (LSE ) firm? whatever. SETS is an Order driven system- this is used for more liquid securities, and SEAQ is a quote driven system - used for less liquid securities that need a marker maker ( normally at least 2, usually 6-10) to maintain a 2 way price and add liquidity. Last month the LSE introduced a hybrid system known as SETSmm intended to try to create an electronic order book for stocks somewhere in the middle ( liquidity wise) the jury is still out on SETSmm 's success.

A stock will ONLY be quoted by one system , and this is determined by the LSE. SETS & SETSmm are trade-able electronically. SEAQ needs a broker to trade.

Wayno
 

ivor31

Member
80 1
wayno
Thanks for that.It has been bugging me today(sad eh)on new years eve.Mybroker is a good platform which i only use for its data services,Aiq,rt alerts etc now level 2 if im happy with it.A few teething problems at moment with level two.need the mkt open to give judgement yet.

regards
ivor
 
 
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