I raised the algorithmic trading issue with ASIC and was advised that I would have to submit a detailed report of misconduct.
I decided to make the call after todays trading with 10.1 m shares traded with 6,866 trades.
I spent time analyzing this crap and found out the following:
. there were 1,955 trades for less than 100 shares (28.5% of trades)
. there were 3,641 trades for less than 500 shares (53% of trades)
. there were 5,619 trades for less than 2,000 shares (81.8% of trades)
. there were 51 trades for over 20,000 shares (0.7% of trades). The total shares for these trades were 1.8 m shares.
All of the small trades are creating a price and are illegal.
If ASIC knows of this BS then they should act under the Corporations Act Section 1041 a and apply the rules set up by the Australian High Court in the DPP V JM matter.
ASIC must have been questioned about this 1,000's of times so why no action?
I am following this matter further because the more you investigate the more it stinks.
Keep the Faith
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Last
$1.62 |
Change
-0.015(0.92%) |
Mkt cap ! $1.749B |
Open | High | Low | Value | Volume |
$1.64 | $1.65 | $1.61 | $5.129M | 3.160M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 17294 | $1.61 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.62 | 13942 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 17294 | 1.610 |
3 | 16669 | 1.605 |
9 | 69941 | 1.600 |
2 | 42818 | 1.595 |
1 | 6584 | 1.590 |
Price($) | Vol. | No. |
---|---|---|
1.615 | 13942 | 2 |
1.625 | 56234 | 2 |
1.630 | 54932 | 5 |
1.635 | 6664 | 1 |
1.640 | 7664 | 2 |
Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
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