Limit orders on London Stock Exchange

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Topic Author
Valuethinker
Posts: 42644
Joined: Fri May 11, 2007 11:07 am

Limit orders on London Stock Exchange

Post by Valuethinker »

Dear Fellow Bogleheads

When dealing on the LSE, how do you deal for ETFs and Investment Trusts?

My broker (Barclays) gives choice of "quote & Deal" but since Covid-19 that rarely seems to lead to an improved price.

Alternative is a a limit order.

Do you set your highest price as the Offer (Ask) price?

Or something else?

Many thanks in advance for any thoughts.

Valuethinker
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galeno
Posts: 2312
Joined: Fri Dec 21, 2007 12:06 pm

Re: Limit orders on London Stock Exchange

Post by galeno »

With our current broker (IBKR on LSE) it takes me longer to do our annual rebalancing vs our previous broker (Schwab International on USA bourses). I WISH IBKR had a trading platform and customer service even 50% as good as Schwab International. If Schwab let us trade Irish domicled UCITS ETFs on the LSE we'd go back to them.

With IBKR we get a bid/ask spread. I start outside the spread and little by little I change the transaction offer closer and closer to the spread. At some point the transaction clears. It takes me 1 to 2 hours each year. With Schwab it was 10 minutes.
KISS & STC.
Topic Author
Valuethinker
Posts: 42644
Joined: Fri May 11, 2007 11:07 am

Re: Limit orders on London Stock Exchange

Post by Valuethinker »

galeno wrote: Fri Jun 11, 2021 5:08 pm With our current broker (IBKR on LSE) it takes me longer to do our annual rebalancing vs our previous broker (Schwab International on USA bourses). I WISH IBKR had a trading platform and customer service even 50% as good as Schwab International. If Schwab let us trade Irish domicled UCITS ETFs on the LSE we'd go back to them.

With IBKR we get a bid/ask spread. I start outside the spread and little by little I change the transaction offer closer and closer to the spread. At some point the transaction clears. It takes me 1 to 2 hours each year. With Schwab it was 10 minutes.
Thank you.
Ben1337
Posts: 8
Joined: Sat Mar 28, 2020 10:01 am

Re: Limit orders on London Stock Exchange

Post by Ben1337 »

Valuethinker wrote: Thu Jun 10, 2021 6:19 am Do you set your highest price as the Offer (Ask) price?
Typically I try to set the limit at the mid price between bid/ask. You should have good results filling if it's a liquid security...

Good luck!
Topic Author
Valuethinker
Posts: 42644
Joined: Fri May 11, 2007 11:07 am

Re: Limit orders on London Stock Exchange

Post by Valuethinker »

Ben1337 wrote: Mon Jun 14, 2021 2:01 am
Valuethinker wrote: Thu Jun 10, 2021 6:19 am Do you set your highest price as the Offer (Ask) price?
Typically I try to set the limit at the mid price between bid/ask. You should have good results filling if it's a liquid security...

Good luck!
They tend to be Investment Trusts (sometimes in FTSE350, sometimes not).

My sense is the marketmakers can see a retail buyer coming (one reason I tend to buy round numbers of share 1000 etc -- although I think that don't

Thank you!
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