Here is a copy of my complaint to the ACCC re ASX
I am a trader on the ASX and it has come to my attention that unfair and deceptive practices are occurring. On my trading screen the Last Price for the company VOR was .007 a drop of 12.5%. However, on my Course of Sales screen all transaction were at .008 ( I took a snapshot of this) I rang Suncorp Trading and I was told the the .007 comes from the ASX and the .008 is from the trading software. The reason for the difference is that some brokers traded at .0075 and the Suncorp trading software rounded up to .008 however the ASX rounds down and give the false and misleading impression that the stock has dropped 12.5% when in fact the drop was only 6.25% and the last trade was .0075 not .007! This may cause retail traders to sell on such a large drop. This difference is misleading and deceptive. Retail traders cannot see trades at the .0001 level but apparently brokers can thus giving them a trading advantage over retail investors. I have called both my broker and the asx and have not received any satisfactory reply. If this is happening to my stock them it is happening to all stocks with unpredictable effects. I want to be able to see the actual trades down to the .0001 level like the Brokers. Stop the deception please.
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Here is a copy of my complaint to the ACCC re ASXI am a trader...
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---|---|---|
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1 | 120000 | 0.029 |
1 | 107142 | 0.028 |
1 | 129000 | 0.027 |
1 | 134000 | 0.026 |
Price($) | Vol. | No. |
---|---|---|
0.031 | 116471 | 1 |
0.032 | 250000 | 1 |
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