The process, may be legal. But the net result is illegal.
Due to the total volume, and net shorts each day. This equates to a percentage far in excess of what is legal.
The law also goes on to say that shorting is allowed, but, for liquidity purposes and match orders. Which is their excuse…
When you manipulate the actual share price, as you would find out if you attempted to increase the share price, you would find yourself in the courts.
When you attempt to smooth over one aspect of the law, whilst ignoring the other, which is what the bots cannot do, as they are not human. You see the net result, being artificial price manipulation. If ASX or ASIC was serious, the parties doing this would find themselves in hot water.
The genuine question remains, why are the regulators not serious? They at some stage we meet serious class action, for falsely/pretending to regulate, whilst profiteering from these bots connected. Remembering the bots can also take over our purchases mid sale.
Law is the sum of all parts. I can show you 12 months of illegal with on days, up to 75% thrown in as short sales. Clear manipulation, clearly illegal.
With regard to small/bot practice, you have shown above, yes allowed. But, sum of all parts must be considered.
As an analogy, I as a restaurant owner, gave someone an illegal amount of substance/MSG in their dinner, but it did not kill them, but over time this may be an illegal amount, that is toxic and gave them cancer. I would be found guilty.
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