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That bot is back, but this time I wonder if it is breaching the...

  1. 5,802 Posts.
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    That bot is back, but this time I wonder if it is breaching the ASX rules? A whole pile of tiny trades went through during the day, of 3, 4, 5, etc shares, and all marked as XT - meaning they were crosstrades. Now we all know that algorithmic trading, where computer A buys from computer B to walk the price one way or the other, goes on.

    But by marking the trades as XT, they are virtually admitting that it is the same broker/insto selling to itself. And that is against the rules, when used to manipulate the price.

    And the price has been steadily walked down all day, and is now down at 2.35. Total volume is only 76k shares, so the excuse that the bot is trying to buy or sell without moving the market just doesn't cut the mustard as far as I'm concerned.

    The ASX have been notified, and it will be interesting to see if anything comes of it. On past performance, nothing will - I'll get the standard reply about "DMA trading, and not of concern". May not be of concern to the ASX, but it is of concern to me and to many other TOX holders!

    Blatant manipulation, yet again!


 
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