The reason the rule was introduced was because the ASX were keeping the BIG broker houses happy. The big boys didn't like the way the market could tell when they had big lines to sell in particular stocks. They didn't like the fact that other brokers were selling under neath them or if they were buying didn't like other brokers bidding on top of them. Today brokers have to wait 3 trading days before finding out who was doing the selling or the buying for that matter. Those trading online never find out unless they know a broker who can pass on that information to them. What it has done however, is allow market manipulation to fester where false bids can be placed to make the stock look stronger while the same group are selling. The ASX preaches that they want a fair and honest market yet they introduced this practice which encourages the very thing they should not allow to happen. And it all comes down to one thing...... MAKING MONEY!!!
Cheers.
AMX Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
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