Another day, another change to the information on Plus Markets. It turns out that there were two trades of 20 Arsenal shares each on August 28 – see my blogs from earlier this week here and here.
To recap, two trades appeared like this on the 28th:
Then on the 29th one was removed again. I phoned Plus Markets to ask why and after a bit of hesitation the gentleman I spoke to decided that one of them had been put up with an incorrect price, so should have been replaced by the second one instead of remaining there with it. I wasn’t entirely convinced by that, as it was the second one that was removed, leaving the website looking like this:
Today, the 31st, the second trade reappeared!
I emailed Plus Markets to ask what was going on, and they phoned me back with another explanation. (I hadn’t even put my phone number on the email, but they must be getting used to me by now.) What they said was that there were two trades all along, but the trade information is supplied to them by a market-maker, and they just post what they get given. In this case the market-maker had decided that there was some problem with one of the trades and had to remove it until the problem was resolved. Although the details posted today are exactly the same as those posted and removed previously, there must have been (they said) some other problem with the trade – settlement date, buyers or sellers details; something that is part of the required information but isn’t just the basic price, quantity and time of trade.
Is this the final story then, I asked. Definitely no further changes? Has the settlement date passed? Settlement is normally three working days after the trade, they told me – which is today – but may be later depending on the agreement of the buyer and seller. So I guess there is some possibility that this isn’t the end of the story, though it should be.
I said I was surprised that information had been posted and retracted, given that I was aware that in the past trades were not posted until a couple of days later than the date of the trade, in order to ensure that everything was present and correct. Yes, they said, that does happen, but in this case they were subject to the whims of the market-maker.
So there you have it: 40 Arsenal shares traded in a day for a total of £684,000 – or the same 20 Arsenal shares traded twice, netting £2,000 profit for the first buyer, who resold two minutes later. Even if it were only 20 shares traded, it’s still the biggest single trade all year, and there are only ten people aside from Kroenke, Usmanov and Fanshare who have enough shares to sell 20 in one hit.
We still don’t know whether Red & White are the buyer – though they have said they’re not, and have blamed a ‘speculator’ (unlike Mr Usmanov, who is a lifelong fan, ahem). All will become clear in due course, though. No thanks to Plus Markets.
6 thoughts on “20 or 40 Arsenal Shares Traded This Week: The Final Story (I hope)”
The f*** this about?
See, this is the kind of intelligent discourse I was really hoping for when I started a blog. Bravo.
I think it’s Red and White because they pay 13k per share. If somebody sold 40 shares, why would they sell to somebody else with a loss of £120k?
Phil, I know that you attribute a lot of importance to the correct use of the English language both written and spoken, but forgive my French .. ……What the f*** is a “market maker” ? and who the f*** is he to make any decisions about the Arsenal ? . (Usmanov :” I’m a life long supporter”…….gimme a break ) F*** off Usmanov , F*** off Kroenke , You two misserable turds deserve each other . I have no idea what I can do to stop the rot , I live in Galway hundreds of miles away but I have no idea what to do . The gunners are stuck with this pair of leeches and a board who take directions instead of directing I’m totally pissed off but I still have no answers.
Noel, calm yourself mate. I think the majority would like to see at the very least some better leadership at Arsenal, and the mood is gradually turning more and more against the Kroenke regime. Unfortunately there isn’t an easy answer, but why not join the AST? The more members we have the more pressure can be put on the club for positive change.
A market maker, by the way, is really just a broker who finds a willing buyer and seller and puts them together. In the case of Arsenal, it’s an unusual situation to find someone with 20 shares to sell, so I’m not sure how they’ve even managed it.