Well said and accurate by my read. Simply put ASIC needs a hand. They are good guys underesourced but they will get to it eventually - illegal algos as apposed to legal Algo need to be separated and grouped together. Algo or not Share Price Manipulation is a crime....5 years per instance. By now this guy should be looking at 20 charges or 100 years. I have watched closely for 2 weeks. He ranges from very illegal to legal and sometimes he is legal for hours but then becomes highly illegal.
The ASIC computer system should have more data. We can point them but they need to bring the programmer and hedge fund to court. The programmer is as guilty as the firm itself.
Someone will be first to be prosecuted and the court will make an example of him. Trading Technology and Algos and how they operate and their changing legal status intraday needs monitoring and ASIC and the court system need to catch up fast.
GG
Do we Snapback on our Algo Short today ?, page-35
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