if nen closes at 5.4c or 5.5c, page-18

Thanks to alacrity in another thread in answer to my question on who gives margin on NEN:

"Mac Prime has just released their margin rate changes at 4:30pm today and effective 22nd Jan, NEN will go from being able to borrow 54% to 0%.

http://www.macquarie.com.au/dafiles/Internet/mgl/au/docs-pa/fact-sheet/prime-margin-rate-change-14-jan-2014.pdf

Mac Prime normally give you 24hrs to come up with more cash so I'd say if anyone was on margin with NEN they would have already had to stump up more cash or been closed out."
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The trading has looked a lot like some forced selling. Volume has been massive.