my complaint to asic lodged by fax today, page-55

This is a reply i just received from the ASX, i also sent them the same email as ASIC, got the expected reply palming me off to ASIC, however they make mention of a couple of other things i queried them about. Once again my questions remain unanswered.

Dear Botkiller

RE: Lynas Corporation (LYC)

Thank you for raising your concerns with the ASX Group. ASX appreciates information that is received from investors as it assists with our function as a Market Operator.

We have reviewed trading in LYC and as you may be aware, we sent the company a price query letter due to the abnormal trading which occurred on 27 June. We note that during the afternoon, the stock dropped in a short period of time to a low of $0.735 and subsequently rebounded just as quickly. From our review, we have seen no indications that the trading involved any breach of the ASX Operating Rules.

You have raised concerns about possible manipulation, collusion and insider trading. Any issues of possible market manipulation or any other form of market abuse relate to matters that are outside of ASX’s jurisdiction. As of 1 August 2010, the Australian Securities and Investments Commission (ASIC) have responsibility for the supervision of real time trading and Market Participants. Accordingly ASX cannot assist you with the issue raised as it is outside of ASX’s jurisdiction. ASX’s responsibility as a Market Operator is to monitor and enforce compliance by Participants with the ASX Operating Rules.

Please refer to the link below to find out how you may lodge a complaint with ASIC:

http://www.asic.gov.au/asic/asic.nsf/byheadline/Complaining+about+companies+or+people?openDocument#how

ASX is unable to assist you in regards to fees and commission rates since this is a commercial matter for discussion between investors and their brokers.
The market operates on an anonymous basis in real time and no one outside of ASX or ASIC is able to see the broker IDS. The broker IDS are made available to the market 3 days after the date of trading and is available to anyone who subscribes to a market data service.

In your second email you mentioned trades with zero prices and volumes. We are unable to comment why you are seeing such trades on your system and suggest your market data provider may be able to assist you further. It is possible that the cancellations you are seeing are cancellations of crossings. Some brokers will systemically cancel crossings immediately after the trade if their system recognises possible wash sales. Wash sales are not allowed because they involve no change of beneficial ownership and they should either be prevented or cancelled immediately by the broker.

ASX Limited
ABN 98 008 624 691
20 Bridge Street
Sydney NSW 2000
PO Box H224
Australia Square
NSW 1215
Telephone 131 279
61 2 9338 0000
Facsimile 61 2 9227 0885
www.asx.com.