Damo, once upon a time i was a market depth believer, till the bots and dark pools arrived in force multiple years ago, for all the doubting thomases and thomasinas (mustn't forget our female traders) this will dispel any doubts how rigged the ASX really is, and the ASX/ASIC coppers just turn a bling eye. AGS trading is all the proof we need, let alone the other 2000 odd listed ASX stocks
a small exert
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Extensive trading anomalies identified by research into empirical ASX trading data reveal a compromised share market. The key issues responsible for irregularities include algorithmic trading, short selling, alternative venues (Chi X and broker dark pools), and the split-level playing field that arises because of co-location privileges. All issues fall within a legal framework, but it doesn’t mean that illegal activity isn’t taking place. Far from it!
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Activities that identify with being illegal, and as a minimum, are completely lacking in ethics, manifest through non-genuine trading. Non-genuine transactions continuously make artificial adjustments to prices and allow shares to wash back and forth without necessarily involving changes to beneficial ownership.