Auctions, Uncrossing & Spreads

I’m hoping someone from IE can answer this.

My assumption is that you bulk trades and try to buy and sell at 2:30pm as it’s the NYSE open, and you can benefit from tighter spreads by trading at the auction/uncrossing.

Is that correct? And if so how does that work for UK or Euro listed ETFs?

I ask because I noticed much closer spreads on purchases I’ve made her when compared with mid morning trades at Interactive Investor, which is a positive sign for you. Just wondered what your strategy is.

Hi, I don’t speak for IE, but can give my experience: my more recent trades have occurred at various times between 15:00 and 15:30. So, not in a 14:30 auction.

I also found from other platforms that spreads could be wider in the morning, before the US opened - particularly for international/global investments, anything with a US aspect in it. Market-makers covering the risk of not knowing where the US may go I guess. It would be necessary to compare spreads for similar times to be confident of a persistent difference.

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We trade at approximately 3:15 pm. If you place your orders before the start of our trading window (prior to 2 pm) they will go through the same day, otherwise, it will be the following business day. That is why we ask our clients to ensure orders are placed prior to 2 pm for the same-day execution.

We trade once a day based on our aggregated trading model. Once the order goes to the market, our brokers execute it at the best price possible based on the volume of the order and market conditions (which include liquidity of the fund).

Kindly note that InvestEngine does not have any financial interest in executing at a higher price (or in a wider spread) and we use brokers registered on the LSE to execute our trades. Our aim is always to deliver the best price possible for our clients.