Author Topic: BRK in Euro  (Read 775 times)

indirect

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BRK in Euro
« on: February 26, 2019, 05:27:20 PM »
Has any of our European friends buying BRK in euro in the stock exchanges there?
what has been your experience with liquidity, spreads and fees? Thank you in advance.


Dynamic

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Re: BRK in Euro
« Reply #1 on: February 27, 2019, 01:04:43 AM »
I'm still European, at least for the next few weeks.  ::)

I bought and sold the B-shares under ticker BRYN (ETR:BRYN on Google Sheets seems to give the XETRA exchange - some of the smaller German exchanges have much lower volumes of a few hundred shares per day, and so does BRKB.MEX in Mexico City I believe) once via Interactive Brokers in August. Very unusually for me, I was day trading, starting before the US market opened.

Volumes seem to be a few thousand shares a day most of the time on XETRA - perhaps 3,000 to 4,000 last time I was comparing different exchanges on Yahoo Finance.

I bought 100 shares at 175.49 = 17549 consideration with commission of 17.55 or 0.1%.
I sold 100 shares at 178.82 = 17882 consideration with commission of 17.88 or 0.1%.

I netted 333 before commission and 297.57 after commission.

I didn't have live market data and used Limit orders but I imagine the Bid/Ask spread is wider than on NYSE, perhaps closer to outside regular trading hours. Generally, the mid price converted to USD seems very close to the US mid price when both markets are open.

It could potentially be useful to me to ratchet up my cost basis in future, making use of my annual tax free Capital Gains allowance - it's called "bed and breakfasting" in the UK and it lets me purchase outside regular trading hours, though the pre-market in the US is similar.

The other experience I have is making BRK.B trades in GBP within my UK ISA tax free account where GBP is the only currency that can be held. These are processed via London only during NYSE trading hours, but are quoted in GBP and only available as At Market orders available to accept or reject for about 30 seconds, and they seem to closely follow real-time NYSE quotes when I've had that data.