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Difficulty Buying Some AIM (London) Listed Securities from US


AchilliesValue
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Hey All,

 

I've been looking at some UK small caps recently.  I've found difficultly purchasing certain issues on the AIM exchange (I have both Interactive Brokers and Fidelity). 

 

To give a few examples: (I'm just pulling random ones and have no opinion on any of these)

 

On Interactive Brokers I can find the symbols in the database for Verona Pharma (VRP LN), Proteome Science (PRM LN), and Wandisco (WAND LN)

 

Then I can't find symbols for Jarvis Security (JIM LN), Toumaz (TMZ LN), Seeing Machines (SEE LN),  etc.

 

The cut off doesn't seem to be by market cap since I've found some in the 10-30M range on IB but then others in the 50-60M range that aren't available.

 

Anyone else run into this problem?  Any broker suggestions?  Seems a lot of them trade on the AIMI and AIMT sub segments of the market (according to Bloomberg) whatever that means.

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You can create a ticket with IB to add a security for listing... you should try that.  I don't have any specific guidance beyond that though if you have already tried. 

 

Go to "message center" -> "ticket" -> "product" -> "add new product" or something like that.

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Do these stocks have a SEDOL number?  Was on the phone with Fidelity about some small European companies.  I could pull a ticker and quote from the exchange and Bloomberg, but Fidelity couldn't find it.  Turns out they didn't have SEDOL numbers.  I've come to learn this is the key to being able to trade a stock electronically.  A SEDOL is a unique identifier for each security.

 

For stocks that don't have a SEDOL you can still trade, you just have to go through a broker who sits on the exchange and manually handles the order for you.  Trading in London shouldn't be too bad, they speak English and you can call them early in the morning.  I'd place a call to a few brokers over there and see what the deal is with the stocks.

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Do these stocks have a SEDOL number?  Was on the phone with Fidelity about some small European companies.  I could pull a ticker and quote from the exchange and Bloomberg, but Fidelity couldn't find it.  Turns out they didn't have SEDOL numbers.  I've come to learn this is the key to being able to trade a stock electronically.  A SEDOL is a unique identifier for each security.

 

For stocks that don't have a SEDOL you can still trade, you just have to go through a broker who sits on the exchange and manually handles the order for you.  Trading in London shouldn't be too bad, they speak English and you can call them early in the morning.  I'd place a call to a few brokers over there and see what the deal is with the stocks.

 

 

Seems they all do have a SEDOL so I don't think that is the issue.  Since its London I probably could ring the international desk and they could make it work, but was trying to avoid paying the extra fees by going through IB or electronically.

 

Haven't tried asking IB to add the security for listing, thanks for the suggestion.

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