Hi,
My question is relatively simple: if a company is listen on multiple exchanges, is it possible to buy shares on one exchange, and then sell those same shares on the other exchange and extract an arbitrage?
For example, if I bought RIO on the NYSE at USD$ 53.74 (AUD$59.25) and sold them on the ASX at AUD$ 62.11 (current price), could I not extract a $2.86 arbitrage?
I suppose I could take a long position on NYSE and a short on ASX and assume they'll revert to the mean, but this is a much less convenient option (risky, increased costs, long-term, may not happen, not a 'true' arbitrage, etc).
Is there any way to do this?
Cheers,
Herzy
My question is relatively simple: if a company is listen on multiple exchanges, is it possible to buy shares on one exchange, and then sell those same shares on the other exchange and extract an arbitrage?
For example, if I bought RIO on the NYSE at USD$ 53.74 (AUD$59.25) and sold them on the ASX at AUD$ 62.11 (current price), could I not extract a $2.86 arbitrage?
I suppose I could take a long position on NYSE and a short on ASX and assume they'll revert to the mean, but this is a much less convenient option (risky, increased costs, long-term, may not happen, not a 'true' arbitrage, etc).
Is there any way to do this?
Cheers,
Herzy
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