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Non-Tech : NYFX - NYFIX a 10 bagger / internet/intranet play

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To: gerald smith who wrote (11)9/26/2000 10:55:34 PM
From: LPS5  Read Replies (1) of 17
 
[T]he volume at 4:00 close was 350,000 shares then after close the volume came in at 1,147,000 how they do that is beyond me.. 70-80 % of volume not shown during the day.

Two ways. First, and quite simply, (a) transaction(s) after the close. Plenty of trading goes on over the phone in both listed and NASDAQ issues after 4:00 - away from the more highly visible, ECN-dominated aftermarket.

Second, via several electronic systems through which traders can agree to cross stock at the close at whatever the VWAP (volume-weighted average price) winds up being. So, at 9:15 am, two parties agree that a trade will be done at 4:01 pm for some as-yet undetermined price, and, at the close, the cross is transacted. At that time, that volume would be printed to the days' total.

LPS5
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