4 ms·

> "I'll pay $10", "ok, I'll pay $10.50", "I'm in at $11". When this gets to a $100 million market cap... Where I can see a list of all the individual trades th

> "I'll pay $10", "ok, I'll pay $10.50", "I'm in at $11". When this gets to a $100 million market cap... Where I can see a list of all the individual trades that got the company to a $100M valuation? I'd like to see how it actually got bid up. To be very clear, I'm looking for every single trade (Mr. X sold 62 shares to Mr. Y for $10.50 on April 7, 2021 at 10:52 am) going back to the beginning of the company. With or without the actual identities of Mr. X and Mr. Y. I expect that the answer is that no such list is publically available. But why not? I can understand a privacy argument about Mr. X and Y's names, but why aren't all the individual trades public information for a public company?

jldugger 5y ago
Because the "smart money" investors don't want to be discriminated against in the market and they are big enough market participants that they write the rules. If we did put a name attached to every trade, it'd become clear when someone is breaking up a big order into many small ones to avoid 'disrupting the market price' -- that is, getting a good price for at least some of their sale. Or buy order, I suppose.
ddeck 5y ago
The trades themselves (time and sales) are available to paid subscribers of various data services, but not identities. Only insiders/significant holders are required to disclose their identity. A search for "historical tick data" will yield plenty of results. Much like everything in finance there is a gatekeeper, and they seek to extract every dollar they can. https://www.ctaplan.com/index https://www.ctaplan.com/index https://www.ctaplan.com/publicdocs/ctaplan/notifications/trader-update/Schedule%20Of%20Market%20Data%20Charges%20-%20January%201,%202015.pdf https://www.ctaplan.com/publicdocs/ctaplan/notifications/tra...
- chii 5y ago
  > various data services but where do these data services get their data from? Does the exchange itself sell this data wholesale?
  - ChainOfFools 5y ago
    yes, along with an even more lucrative stream called "order flow" which is practically an order book crystal ball that allows HFT shops to front run retail traders (and one another) some crypto exchanges also sell order flow but they don't really need to, as its far more profitable to front run their own users, whose entire account activity including sidelines and account balance transfers, is completely exposed to exchange insiders, who can trade against it. "oh look, whale user #4457 just transferred $100k of $COIN into their account. I wonder what they plan to do next?"

jldugger 5y ago

Because the "smart money" investors don't want to be discriminated against in the market and they are big enough market participants that they write the rules. If we did put a name attached to every trade, it'd become clear when someone is breaking up a big order into many small ones to avoid 'disrupting the market price' -- that is, getting a good price for at least some of their sale. Or buy order, I suppose.

ddeck 5y ago

The trades themselves (time and sales) are available to paid subscribers of various data services, but not identities. Only insiders/significant holders are required to disclose their identity. A search for "historical tick data" will yield plenty of results. Much like everything in finance there is a gatekeeper, and they seek to extract every dollar they can. https://www.ctaplan.com/index https://www.ctaplan.com/index https://www.ctaplan.com/publicdocs/ctaplan/notifications/trader-update/Schedule%20Of%20Market%20Data%20Charges%20-%20January%201,%202015.pdf https://www.ctaplan.com/publicdocs/ctaplan/notifications/tra...

chii 5y ago
> various data services but where do these data services get their data from? Does the exchange itself sell this data wholesale?
- ChainOfFools 5y ago
  yes, along with an even more lucrative stream called "order flow" which is practically an order book crystal ball that allows HFT shops to front run retail traders (and one another) some crypto exchanges also sell order flow but they don't really need to, as its far more profitable to front run their own users, whose entire account activity including sidelines and account balance transfers, is completely exposed to exchange insiders, who can trade against it. "oh look, whale user #4457 just transferred $100k of $COIN into their account. I wonder what they plan to do next?"