Got this back from ASIC re those large out of market orders,...

Got this back from ASIC re those large out of market orders, according to their rules they get purged at 6.40pm E.S.T.....the link is provided below it's on page 49 of the pdf file, i'll be watching with interest tonight to see if the following orders are purged...ASIC state that an order must be within 60% of current market price to remain on screen, so that means ALL ORDERS to sell over 2.5 cents should supposedly not be there tonite right ? I dont recall these orders being removed in the past, i'll certainly be checking tonight. And IF THEY ARE BEING RE-ENTERED DAILY, that makes the fraud even worse, as it's a daily manipulation, not just put on and left there. So either way, we are all getting shafted by both the rorters and ASIC. If they do disappear, compare these sallers to the new orders put on tomorrow, my bet is they'll all be there, probably with interest.

Here are the bigger ones for sale in VIL right now after hours

2.8c 1 million
2.8c 2,160,000
3.6c 847,334
4.5c 2,023,725
5.5c 500,000
5.7c 462,570
7.5c 1,500,000
10c 250,000
12c 350,000
15c 500,000
16c 221,052




05 October 2010

Dear FactorThis
RE: Verus Investments (VIL)

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

We have reviewed the information you have provided and would like to provide the following link attached from the ASX website with regards to Procedure 4070, Removal or retention of Orders at the end of the day, for your perusal.

http://www.asx.com.au/compliance/rules_guidance/asxl/asx_or_procedures.pdf

In relation to your question regarding orders with your broker, maybe you can raise this concern with Commsec to enquire if their tolerance parameters can be adjusted when placing client orders.

Thank you once again for bringing your concerns to our attention.

Yours sincerely,
Rebecca Tse
Customer Service ASX Group