I have sent this back to ASX, why make rules when they dont...

I have sent this back to ASX, why make rules when they dont bother enforcing them ?


Hi Rebecca,

I waited till 9pm just to make sure, and every single large sell order that was there at 4.30pm is still there now. The total sell volume at 4.30pm for VIL at ALL LEVELS was just about 46 million, now it is just under 44 million. The last sale for VIL today was at 1.4 cents, if within 60% is the cutoff for orders not to be purged, being generous the highest remaining sell order now should be 2.4 cents. Well there are no less than SIXTY INDIVIDUAL ORDERS remaining on the screen for sale at prices from 2.5c up to 16c, all the big orders I quoted you over the phone just before 5pm today are STILL THERE, as they have been every night for many months now, ASX are clearly not purging orders as they state in that PDF. This is manipulation to make VIL appear under heavy selling pressure, the volume that is exceeding the 60% amounts to 16 million shares, it has been a lot higher than that of late too, as much as 40 million. So the market depth as it is now, is around 42 million on the buy side, and 44 million on the sell side. If ASX had purged the orders, it would (and should) be 42 million buyers and 28 million sellers. This same sort of activity (better known as market manipulation) is happening on 95% of stocks that are not in the top asx200. Seems to me like ASX don't follow their own rules, looking forward to response. All my figures can be easily verified by your own internal system.

Yours Sincerely,
FactorThis