get ready for the bounce .., page-30

Picking out the following bit:

- the Trading Participant has not pre-arranged the entry of Bids and Offers;
- the same Authorised Person does not enter both sides of the Crossing; and
- it can be demonstrated that the Orders originated from a defined program or algorithm-driven trading strategy application.

You could read that as, since it is obviously program trading, it's OK -- despite the fact that the program has been written to deliberately achieve the manipulation. Perhaps within the letter of the rules, but certainly not the spirit of them. But, as I wrote before, don't hold your breath until they leap into action.