NDO 1.70% 89.5¢ nido education limited

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  1. 1,041 Posts.
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    got this PA today, can you shed any light on it for us?

    Dear Mr XXXXX,

    RE: Possible manipulation in Nido Petroleum (NDO)
    Thank you for this information regarding NDO in respect of possible manipulation.
    ASX Ltd appreciates information that is gathered from the public as it assists us in our role of maintaining market integrity by requiring compliance with the obligations set out in the ASX Operating Rules.
    Your observations in relation to NDO have been passed onto Surveillance for consideration. Surveillance has reviewed trading in NDO and notes that sometimes there is a trade for 1 share in the Closing Auction. This can also happen in the Opening Auction. This is the result of traders reducing their Bids in order to get a lower matching price from the auction process. This is permissible. If we were to see someone offer just 1 share in the Auction order to make the matching price lower then that would not be acceptable and we would take further action. The 1 share trades did not result from a bid or offer for 1 NDO. They are caused by bids and offers which partially trade against other bids or offers for 1 share in the Closing Single Price Auction. The trading is not manipulative or inappropriate and we do not propose to take any further action.
    There are further details about how the auction price is determined at our site which is well worth study if one wishes to understand how the auction process determines the matching price:
    http://www.asx.com.au/resources/education/basics/open_Close.htm
    As an example, if there are bids at 14.5c, and offers at 15.0c then after 4.00pm when the Closing Auction begins, suppose someone offers 100,000 at 14.5c. A trader may bid for 99,999 at 15.0c. This will result in him buying his 99,999 at 14.5c and there will be a trade for 1 share at 14.5c which goes to the next buyer, who would be the top bidder at 14.5c. The trader who bid for just 99,999 seeing there was 100,000 on offer at 14.5c, is not breaking any market rules. We do not propose to take any further action in this matter.
    Thank you once again for raising your concerns with ASX.
    Yours sincerely,
    Jessica Ghuman
    Customer Service ASX Limited
 
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Last
89.5¢
Change
0.015(1.70%)
Mkt cap ! $204.1M
Open High Low Value Volume
87.5¢ 90.0¢ 86.0¢ $51.66K 58.57K

Buyers (Bids)

No. Vol. Price($)
2 25000 85.0¢
 

Sellers (Offers)

Price($) Vol. No.
90.0¢ 17000 3
View Market Depth
Last trade - 15.50pm 27/06/2024 (20 minute delay) ?
NDO (ASX) Chart
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