Below is the reply I received from ASX re that 1 share XT at 23c yesterday
Dear Sir, RE: Pluton Resources Limited (PLV)
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 the trading in PLV. The trading you have observed does not indicate any breach of ASX Operating Rules.
You have indicated some concerns with the size of the trade that caused the price movement in PLV. Please note that the ASX Settlement Rule 8.10.2 only prevents Participants from creating a new Holding of less than $500 worth of the security; after an initial holding is created, subsequent transactions can be of any amount. Hence, as long as the investor has an initial holding of more than $500 worth of the relevant security, they will be able to subsequently trade any volume on market.
Brokers have an obligation under the ASIC Market Integrity Rules to prevent manipulative trading. In general, brokers are required to have filters in place so that trades which may cause a large price change are reviewed by the broker prior to being entered into the market. Each broker can choose how they will comply with the Market Integrity Rules and thus they may implement different systems and may have different trading rules for their clients. These differences may mean that the same order may be treated differently by another broker. If there are concerns that some brokers allow a trader to enter certain orders but other brokers do not, then such issues need to be raised with ASIC.
For more information on the ASX Compliance function, please visit http://www.asx.com.au/compliance/index.htm.
Yours sincerely,
Customer Service ASX Group
PLV Price at posting:
20.7¢ Sentiment: Buy Disclosure: Held
