gindalbie seeks buyer for loadestone, page-35

Kenso,

Yes the "XT" stands for a cross trade that could happen if both the vendor and the buyer are using the same brokering firm, but I don't know what the "NX" in front of the "XT" stands for. And the trades that occurred at the time were displaying both the NX and the XT together.

Anyway I made a little research about what I have posted and came up with the following:

This is from the ASX.

"Information & Schedule advising a number of changes to existing functionality within ASX Trade to comply with its obligations as a Market Operator. One of these changes is the introduction of a new condition (trade report) code – NX – to allow for off-market crossings at or between the National Best Bid or Offer (NBBO) spread to be reported using existing Two Sided Trade Report Transaction in the ASX Trade."


And now, below there is an independent person's idea/views about what the ASX did in allowing the NX XT to be introduced into the sharemarket.


Open Interface.

"Have you ever wondered what those special codes in c.o.t. (=course of trades) tables represent?
Want to get a better understanding of market depth and price movements?

By special request, I'll start this topic with an explanation of the new "off-market crossing".
It's a relatively recent "invention" that records an arranged sale of shares that never appeared on the bid or offer side of market depth.
Depending on your data provider, such trades are flagged as "XT-O" (crossed trade off-market) or "NX XT" (no-show crossing).
Their special feature lies (a) in their being invisible until they hit the c.o.t. board, (b) the way they're recorded on charts.
Check out these trades from the beginning of today's HIG trades, read from the bottom up:

?NXXT_Trades.gif ( 44.68K ) Number of downloads: 6


Now compare the recorded prices on the tick chart below. Notice a difference?

?Tick_Trades.gif ( 6.91K ) Number of downloads: 6


The 3rd and 4th trades are NXXT; they show up as trade on the tick chart, but at the price of the last regular trade. It takes a regular trade (#5) to lower the price tick from 21 to 20.5c. The next NXXT trade then just happens to be recorded at the correct price.

It doesn't take an Einstein to recognise the deceptive power of this new facility:

Your chart shows the old price.
Your Market Depth doesn't show anything.
Only by reading the c.o.t. can you find out what's really going on."

End of quotation.

If that is correct, then all I can come up with, is that it is another way that the ASX allows for manipulation of the share prices, while being all above board and legal.

Is there a time and place in the sharemarket, when both regulators, the ASX and ASIC, will finally realise that there is more than just the big end of town investing in the sharemarket?

I AM WONDERING!!!

Goodluck all.