On match up 5 sell orders appeared at 47 at the same time,
when the buy/sell was 49.5 and 50
so all 5 at 47, not 1 at 48, or 48.5 or 49, all at 47
coincidence or same seller?
yes I know they all went through at 49.5 but what was the reason 5 orders were put on at same price well under current buy order,
Look I know trading is always funny, this game is a barrel of laughs
But mantyf you provided very good analysis although the figure on CFO was a touch off,
But you say transparent, yes it was when the orders were on screen, but not when the bulk of the 2008 sells were going through, how could that be transparent when at that time the buy depth was at 5 cents and the person was selling into it at that price, it was ONLY transparent later in the day when the sell depth was at 5
Bot trading or broker computer trading is legal as far as ASX goes but should it be, more so if it causes distress to shareholders or the market,
This is part of an ASIC report on manipulation so it is not just people here complaining about nothing
The complexity of algorithmic design and how they actually deliver a competitive advantage to those that use them is beyond the comprehension of most market participants. Certainly the world’s most powerful investment banks have poured enormous resources into recruiting and supporting some of the sharpest mathematical/statistical minds in the world, to develop and fine-tune their proprietary algorithms, Refinement s are continually taking place and new programs are appearing constantly. Crucially, by their very design they represent a manipulative influence in the market that advantages one group of investors (sophisticated investors) over another (retail investors) and enables companies to be unfairly targeted resulting in severe undervaluations. The manipulation that occurs with algorithms is referred to in the internet article High-Frequency Trading: A Market Destroying Scam.
There is no doubt that large volumes of high frequency algorithmic transactions
