- Kind words thanks Oz - Yes indeed I concur with what you are saying - on many threads the punters lament about bots and shorters destroying their share price - a lot of time its just misplaced anger that should be directed at management - but in this case the appendix notice attached to the UBS sub holder notice reads like a church confessional or a cop rap sheet
There my friends is algo trading ( churning if you prefer ) spelled out in black and white - As you say Oz it would be considered market manipulation if retail punters traded like that but because its a computer program ( algorithm ) with a programmed agenda to either accumulate or dispose of a large position at the best VWAP price its all perfectly acceptable to ASX and ASIC -
In fact its encouraged by ASX and facilitated allowing the big brokers to position their computers within the exchange to exploit the latency with (HFT) high frequency trading
Scorpion has done thousand of hours research into this type of trading with a large portion of it specific to the brokers mentioned in the regal Sub holder notice -
(20min delay)