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bpinvestnstocks

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10/04/18

14:26

Post #: 32349046
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Originally posted by Remark ↑

Hi Willi,

They actually replied almost immediately (no doubt automated) with a copy of my complaint and a case number...

"Thanks - We received your report.
If we need to contact you and if you gave us a contact phone number we will try to call you on that number, because we like to speak to people directly. If that's not possible, we will email you.
We will deal with your report as soon as we can, and in most cases within 28 days. However, if we need to make external inquiries it may take longer. We will inform you of our response to your report and can provide that to you in writing.
If you want to know more about how ASIC handles reports of misconduct, you might like to read How ASIC deals with reports of misconduct.
We always welcome feedback on areas where we are doing well and areas where we can improve our service.
Please consider the environment before printing this document Information collected by ASIC may contain personal information. Please refer to our Privacy policy http://www.asic.gov.au/privacy for information about how we handle your personal information, your rights to seek access to and correct personal information, and how to complain about breaches of your privacy by ASIC. NOTICE This e-mail and any attachments are intended for the addressee(s) only and may be confidential. They may contain legally privileged or copyright material. You should not read, copy, use or disclose them without authorisation. If you are not the intended recipient please contact the sender as soon as possible by return e-mail and then please delete both messages. This notice should not be removed."

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Out of curiousity, what laws or rules do you think the bot trades are breaking?

As I understand it, and I could be wrong, the ASX (ASIC too probably) regards this stuff not as a bug but as a feature. Hence the which laws or rules question.

As I understand pretty much any broker (member of the ASX) can pay for fast access (locate servers close and get high frequency trades) and use bots. We might not like it but I think (believe) the horse bolted long ago.

AVZ Price at posting: 21.5¢ Sentiment: Hold Disclosure: Held
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Running discussion on SP, page-963

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