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Re: SO75 post# 103

Monday, 03/13/2017 7:33:36 PM

Monday, March 13, 2017 7:33:36 PM

Post# of 1448
Ignore the low volume trades ending in 33

I've seen these as well and I don't think they mean anything. My best guess on what these are relates to recalibration of prices between the Canadian and US OTC markets for the same security.

Sometimes there is volume in Canada and none in the US and this may take the price up/down by a few pennies. The latest traded US price then appears stale and out of whack given the spot FX rate and the latest Canadian price for the same security. To re-synchronize the two prices, the market maker does a trade on one of the exchanges for an odd lot like 233 shares on the exchange that has the stale price and this re-synchronizes the two quotes/last trades. This is a guess only, but I'm pretty sure that is what is happening.

JB