Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-24

HI redant and all AVRers................ My thoughts are the ASX - ASIC etc have some idea what is what but due to the insignificance (we retail investors) there is little that will ever be done. Small fry- so to say.

If memory serves me :-
An example of 1 specific type of Market Order- when a Market Operator- received an order he/she or certain staff had to thoroughly check to see the client had the shares and was in a position to have the order placed. The order then was discussed with the client -placed. Depending on the instructions and depending on 'what effect' the order could possibly have on an 'orderly market operation' for a particular stock. - 1 area was to see that the order did not disrupt the 'orderly operation of that stock' e.g. Say market showing bid (buy) $ 15.00 - ask(sell) $ 15.60 and as a seller you wanted to sell 75,000 at say $16.50 . No!!!!!! too much volume in 1 order - and a decision made (as a Market Operator you made the decision)- very quickly- after looking at the -trade volume- days prices- volumes of bids -asks (a quick birds eye view of the stock) to place say 5600 on as an 'iceberg order' i.e.5600 showing and the rest -not showing 69,500 but they in line to sell at the set price fed out slowly, no one could get in front of your order at your set price. Brokers in some way protected the stock from ' our mumbo jumbo- sale/buy price shock.' Pushing the price down (or up re if a bid) quickly. A big order often gave the 'impression' of someones getting out/ in WHY ??? The market often gives out a great 'mental perception'

At the time all orders that were in the market from your Broking house would show clearly in some short detail.

I do not think the market is now well supervised as it once was. My thoughts as an old fogiee !!!!

This was before - algo trading- black pools- etc etc etc ..... since these are now the norm...... my thoughts -- stuff the retail guys........ You see the black pools and algo trading do not take up much time in human intervention (little known about them by the retail guys anyways ) - from start to go with little human action. Where as retail has to go through a number set of processes. Cost ?????

As I have said -- since I was involved many many changes have been made.

However - go go go AVR I hope when the (my terminology) blood flow etc etc (Wayne's last interview) come to the fore soon, things could change dramatically with AVR. I hope .

Keep safe all .