Pre-race cross matching

[Euler]

Some very odd movements just before the off today.

[rhysmr2]

The markets are insane today, I'm all over the place. Not ideal since I took a nice £760 loss yesterday because I had a touch of traders rage

[freddy]

Going to take a bit of getting used to this

[jimrobo]

took a bit of a hammering early on myself. I thought it was just the fact i was really hungover but it seems it is the general consensus the markets are a little more unstable today

[Euler]

I've taken some nasty losses today but others have done OK so a little inconclusive.

[Predicton]

Hmmm, that would explain an anomaly in my trading today. I expected my usual Saturday caning but, for a change, have done well. I had dared to think that maybe I was getting to grips with Saturdays but the comments from the full timers would suggest otherwise,

cheers, P

[jimrobo]

actually despite my first hour blunder i ended up having a pretty good day. Certainly the first time I have hit some consistent decent totals per race for a while. My hangover seemed to subside about 1 o clock and it was a pretty smooth session from their in for me.

[hgodden]

I think with things like this it can be easy to panic a bit and put every strange thing down to the cross matching when most of the them are probably nothing to do with it

[andyfuller]

Yup - will be interesting to see the impact during the week. As I understand it it is likely to only really come into play when someone 'spikes' the market which would previously if big enough knock the OR out of sync but now will be attempted to be XM against the rest of the field before pushing down the price like it would have done previously. So if you have orders staked up on other runners to the one being 'spiked' you might now be matched where as before you wouldn't.

But the number of spikes you see in a normal week that would impact I don't think is that large in number.

I don't really see how else it is going to impact upon the PR market? Can anyone else explain?

[andyfuller]

We have seen at least a couple of races today where the cross matching has affected our trading positions so far.

In that Curley race there were a few heavy lays hit the market. Normally they book % would shoot off but then settle down again. Today all the other prices shot in the opposing direction.

Was thinking about this and when the heavy lays hit the market, I assume when the other prices shot in the opposing direction you had orders matched which you didn't really want to be matched? Or was it that you got matched on orders you did want matching which gave you open positions that you were now struggling to close out on because of how the book % changed in it behaviour?

Does anyone have any views on my previous post about how it is affecting/will affect the market?

[freddy]

I think it will certainly make people think twice about putting up bets that they do NOT want to get matched, so there maybe some positives to come out of this althoe it's going to take a bit of time to adjust to.

[spreadbetting]

Reckon the 16:50 at Wolves must have cost them a few quid with the 2.1 fav being withdrawn and only haveing a 28% reduction factor. Cost me £400 so lets hope Betfair got stung for a lot more , hopefully it'll get them to look into the reduction factors where the prices are well out of line with the market

[hgodden]

I got whacked for 180 on the 4.50, why was I so dumb to take SP?!

[oddstrader]

yes that 4.50 was probably the first real test BF will have had

[freddy]

SO after two weeks of pre race cross matching.
has anyone's trading been effected by this in any way positively or negatively ???.