I have said this before. Most algo related trading on the ASX is illegal activity and ASIC simply looks the other way.
I have queried them on inexplicable movements on the short report before and they flatly told me they have no power to force compliance, specifically with off-shore entities who are shorting. My view is they should ban non-compliant entities from participating in our markets, but as we are talking about the top 6 banks they obviously wont do it and just let the financial rape of the Australian public continue year in, year out.
This is clearly a position that has secretly been built up and someone has discovered it and forced disclosure.
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