I emailed ASX today and asked:
Hi Could you tell me if this way of automatic trading (BOT) is allowed as normal practice? I notice that this method is used a lot by "I don't know who", but certainly is like "someone" manipulates prices of shares, bids/offers and I don't think it is fair for the rest of us, "humans". Example today, 21/11/2014, is the trading in PSY shares.
Please, advise.
Thank you
Thank you for your email.
Computer algorithmic trading is generally used by institutional traders and brokers. The use of the system is typically to test the market before a bigger order is placed. This practice is governed under the Corporations Act regulated by ASIC.
If you have any concerns with this practice, please contact ASIC: http://www.asic.gov.au/about-asic/contact-us/
If you have any further queries, please do not hesitate to contact ASX Customer Service on 131 279, +61 2 9338 0000 if calling from overseas or email [email protected]
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