Share Price Manipulation, page-13

Hi @robbo24

My understanding of the end of day auction process or more accurately the Closing Single Price Auction (CSPA), is that normal trading ceases at 4pm, that orders can be placed at the Pre Closing Single Price Auction up until 4:10 pm and that the CSPA takes place at 4:10 pm.

Perhaps I'm missing something but I don't see how this has any relevance to what I've been talking about. I previously discussed the trading action on Friday the 11th of December taking issue with a trade that occurred at 15:59:30 (i.e. within Normal Trading not during the CSPA) which I'll reproduce here for you:



To give an example of what you're talking about (i.e sales taking place as part of the CSPA), we need only look at the 3rd of December:



Where the price went from 17.5 to 17 cents on $5159 of orders.

Thank you for your concern but I think I understand the CSPA well enough.