...last word on BOTs (you learn something everyday!)..apparently...

...last word on BOTs (you learn something everyday!)..apparently Legal on ASX and below from ASX Web Site..


The VWAP strategy is one of the most commonly used trading algorithms. The aim of the strategy is to achieve a steady price over the day, weighted by the volume (number of shares) traded. A VWAP order would typically be achieved by splitting the total order into multiples of smaller orders, with these smaller orders being executed during the day. The table below shows a typical course of sales from a VWAP strategy. There are two large orders then a series of small orders being executed as part of the VWAP algorithm.

ASX does not have system minimum limits on trade size for execution - however brokers may set limits on the volume and or value of the trades their clients can execute through their systems. Many stockbrokers will typically set a minimum order size of $500.