Have the BOTS taken the little BOTS away on holidays?The...

Have the BOTS taken the little BOTS away on holidays?

The following is from my broker - providing an answer to marketable parcels and more specifically BOT trades of 1 share.


Thank you for your email. I confirm that ______ Retail Equities does not engage in Algorithmic trading or High Frequency Trading (HFT).

The ‘marketable parcel’ as a parcel of securities of not less than $500 is defined in ASX listing rules (Chapter 19 Interpretation and definitions). The initial minimum parcel requirement is therefore not a _______ specific policy. I confirm that ______ systems are designed to not accept trade instructions that will contravene this rule or any requirements set by the ASX and/or company. This means that you cannot buy less than $500 in value and cannot leave less than $500 value when selling. Please note however, that it is not uncommon for securities to drop in value and companies to consolidate their securities on issue. This together with Dividend Reinvestment Plans (DRP), can result in holding a parcel that is less than $500 in value and/ or a couple of units from time to time.

If you hold less than the minimum parcel, the company reserves the right to buy back/ remove the securities from your Holder Identification Number (HIN) at their discretion. This is also not uncommon. The registry will notify respective shareholders prior to exercising their right.

END

Chapter 19 defines the marketable parcel as $500 and I am therefore stuffed to know if this is the ASX policy how BOTS are allowed to exist?

This is not a level playing field.