new hc algorithmic trading forum (kimbo252) , page-11

Iam,

You are very correct,ASIC must investigate each complaint,and will assign your complaint reply email,with its own idividual call number, as is shown in my reply from ASIC concerning the bot speeding ticket I sent in last Saturday.

Lets all,"LET THEM HAVE IT"

Many individual complaints will become "THE POWER OF ONE"

CHEERS,

KIMBO





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From: Infoline
Sent: Mon, 29 March, 2010 1:49:43 PM
Subject: Re: Ammended ASX issued with BOT Speeding Ticket (BST). []


Dear Kim
Thank you for your email.

I have included this further information in your complaint to the Misconduct & Breach Reporting department, for their attention and reply. The reference for this complaint is Call Number 5117168.

Due to the unique nature of each enquiry ASIC is not able to provide interpretations or recommendations specific to some enquiries or circumstances. If you require further information please seek independent advice through an ASIC registered agent, your accountant or solicitor.

Yours sincerely

Lorelie McDermott
Customer Service Consultant, Enquiries
Stakeholder Services



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Original Message:
Sent: 27/03/2010
To: [email protected]
Cc: [email protected]
Subject: Re: Ammended ASX issued with BOT Speeding Ticket (BST).


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This email message has been processed by MIMEsweeper

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I WOULD ALSO LIKE TO ASK THE FOLLOWING AS AMMENDED IN ME LETTER BELOW IN 6.2

"If the ASX was not aware of this behaviour, does it consider that the behaviour contravenes s 52 of the Trade Practices Act 1974. S 52 states that, 'A corporation shall not, in trade or commerce, engage in conduct that is misleading or deceptive or is likely to mislead or deceive.'"



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To: [email protected]
Cc: [email protected]
Sent: Sat, 27 March, 2010 5:54:51 PM
Subject: Fw: RE: ASX issued with BOT Speeding Ticket (BST).






----- Forwarded Message ----
To: [email protected]
Cc: [email protected]
Sent: Sat, 27 March, 2010 1:48:19 PM
Subject: ASX issued with BOT Speeding Ticket (BST).


Dear Sir/Madam,

On wednesday the 27/1/2010 I noticed that an algorithmic trading bot, was, between 5.19 pm and 6.10 pm responsible for bringing the shareprice of CUE ENERGY LTD-ASX;CUE down from .205 cents to .20 cents.IE,Trying to suppress CUES shareprice.This was done by the "bot" selling down small parcels of shares at 2 minute intervals.
In light of this price change, and restriction to "fair" trading, please respond to each of the following questions;

1. Is the ASX aware of any information that could explain the ASX's inability or negligence in permitting the use of artificial algorithmic trading bots, to deliberately manipulate the stock price of CUE on the listed day?

2. Is the ASX able to identify the company who issued and used the algorithmic trading bot on CUE responsible for artificially manipulating the stock price on the listed day?

3. Did the company responsible for the algorithmic trading that artifically suppressed the stock price pay full "retail" brokerage for each trade?

4. Is it true that the ASX are charging only 51 cents for each trade conducted by algorithmic trading bots and software?

5. Was the ASX aware that the algorithmic trading bot had been introduced to the network and was targeting in a virus like fashion, the CUE stock price?

6.1. If the ASX was not aware of this behaviour, does it consider that to be a breach of the fair trading act (1987), specifically, section II of the act, item 11 (2) (d), "whether....any unfair tactics were used against the consumer...by the person acting on behalf of the supplier", and section 12, (1) (g) "...makes a false or misleading representation concerning the price of goods or services".

6.2. "If the ASX was not aware of this behaviour, does it consider that the behaviour contravenes s 52 of the Trade Practices Act 1974. S 52 states that, 'A corporation shall not, in trade or commerce, engage in conduct that is misleading or deceptive or is likely to mislead or deceive.'

7. I contend that artificial stock price manipulation via algorithmic trading software (bots) is price coercion, and as such under the act, contravenes item 23 of the act. Does the ASX condone price coercion?

8. If the answer to question 1 is "Yes", can an announcement be made immediately? If not, why not, and when is it expected that an announcement will be made?

9. Is there any other information that the ASX may have, to explain the permitted inappropriate use of artificial algorithmic trading bots in the manipulated suppression of CUE stocks on the listed day?

10. Please confirm that the ASX is in compliance with all legal statutes in relation to fair and reasonable stock market trading.

ASX issued with BOT Speeding Ticket (BST).
Sat, 27 March, 2010 1:48:19 PM

ALSO,I Would like to draw to your attention

THE " AUSTRALIAN "

"Corporations Act 2001" Section 1041A


Chapter 7 Financial services and markets

Part 7.10 Market misconduct and other prohibited conduct relating to financial
products and financial services


Division 2 The prohibited conduct (other than insider trading prohibitions)

Section 1041A


484 Corporations Act 2001

Division 2—The prohibited conduct (other than insider
trading prohibitions)
1041A Market manipulation
A person must not take part in, or carry out (whether directly or
indirectly and whether in this jurisdiction or elsewhere):
(a) a transaction that has or is likely to have; or
(b) 2 or more transactions that have or are likely to have;
the effect of:
(c) creating an artificial price for trading in financial products on
a financial market operated in this jurisdiction; or
(d) maintaining at a level that is artificial (whether or not it was
previously artificial) a price for trading in financial products
on a financial market operated in this jurisdiction.


Yours Faithfully