General Discussion Topics, page-22522

Don't you mean ASIC Shagz ......because the ACCC albeit with their crossover of ' Fair Trading ' practices and competition in so far as they relate to Financial Services Industry providers has no real authority here with respects to the ASX platform Even APRA who could take away ASX's license much in the same manner as has been done with CROWN would not resort to this level unless ASIC first revealed a level of corruption in the Broking and Settlements Industry that would commensurate in an inquiry to the magnitude of what would be required to fix these problems.

So in a nutshell it's a MESS and unless you can show Criminal Intent into Fraud and / or Market Manipulations or Money Laundering or something along those lines you ultimately have Buckley's chance of ever making a difference. Just keep reporting it with detailed information is all you can do. Maybe eventually someone will listen. But I know a fair few Brokers who after the GFC were magically never a broker again....so what's up with that. And it was obvious how many got turfed out of a few targeted BIG firms.

The whole CHESS system whist designed to be obviously efficient is corrupt in a sense that the ' Sponsoring ' broker who has access to the HIN , your trading strategies , and consequently your stock can do whatever they like in so far as instituting ' Algorithmic ' orders which play off you holding balances until you in most cases will sell and crossed orders or intra broker covering orders go through. And even now i don't think you can short every single stock on the ASX....but a number of years ago I had some business with a Broker who was more than quite arrogant in telling me .....or more bragging to me that he could short ANYTHING.

Now you tell me how that is possible when you didn't even have the trading regime at the time to short stocks holius-bolus...... The systems corrupt that how. Because if you have access to the Physical Stock , you can do anything you like with your clients stock if you know that they are not going to sell........until they do .....