Bots sucking life from ASX, page-3

Increasingly, course of sales is filled with small volume executions that look unusual. These are signs of automated trading or what is referred to as algorithmic trading. Essentially, this is an automated order manager which has instructions to feed the order into the market gradually throughout the day. In the past, brokers would manually enter orders to market.

With automated trading, preset order details can be used to ensure large orders are managed effectively throughout the trading day without causing large price movements to the disadvantage of clients to get a good price for their client or trade within the trading range of the stock for the day. Now with the use of automated orders, brokers can preset their instructions and the order manager does the rest.

Since the beginning of this month we have had 8 days where BOT's have traded this share. Those dates were 9,10,13,15,17,21,23 and today. The first five would come in without fail anywhere between 15:26 to 15:45 Eastern Standard Time, the last two days they have entered from open.

I have contacted the ASX and the only reply I have received so far is "We are looking into the issues you have raised to see if there has been a breach of our rules by and will communicate again with you once we have completed our review. We anticipate that this should take no more than 15 business days"