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Where is this exchange? Clearly if the price changes can be reported with such high precision, it needs to be based on a solid value from an exchange or a set
by mikymoothrowa 4y ago
Where is this exchange?
Clearly if the price changes can be reported with such high precision, it needs to be based on a solid value from an exchange or a set of real exchanges instead of an aggregate of all the airport guys exchanging cash.
(For that matter, even the airport guys don’t set their own prices. They set a commission on top of the day’s forex rate)
- rr888 4y agoThere is no exchange, no central price. If you see a price on TV or somewhere its what a given bank or instution quotes, or maybe a blend of quotes. This is probably true of everything now, if you buy Apple stock you probably aren't trading on Nasdaq you trade on some hedge fund algo, the Nasdaq price is an approximation of what bid/ask you'll trade at.