Some of you may be unaware of the ASX trade symbol CXXT. I admit to being unaware of what the code meant and why it usually showed up against very small trades but sought out what it meant.
CXXT is a cross trade or crossing that has occurred in ASX CentrePoint at the current midpoint price. A cross trade is a practice where buy and sell orders for the same asset offset without recording the trade on the exchange. It is an activity that is not permitted on most major exchanges.
Couple of points that I take from this definition:
It would appear that the ASX is not a major exchange ?!!! Really
It would seem that the practice is a tool to manipulate SPs
kippax
ADN Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
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