I'm looking at ASICMiner shares and I've seen a substantial price difference between these two exchanges. I'm new to this process so I may be missing something simple but it seems like buyers would bid up the lower priced exchange until the prices were the same.
Is this just an artifact of an immature market?
(No offense intended by the word "immature". But I can see how people might choose one exchange over another if one was less credible or new to the marketplace. I can also see a situation like this when there's not a lot of volume and the prices could momentarily or for a short time, be out of whack.
I can also see [and perhaps this is most likely] that if transactions are cumbersome there is less to be gained by arbitrage between the two exchanges.)
Any insights?
volume is low and transaction fees regimes are completely different on those two exchanges