I raised the algorithmic trading issue with ASIC and was advised that I would have to submit a detailed report of misconduct.
I decided to make the call after todays trading with 10.1 m shares traded with 6,866 trades.
I spent time analyzing this crap and found out the following:
. there were 1,955 trades for less than 100 shares (28.5% of trades)
. there were 3,641 trades for less than 500 shares (53% of trades)
. there were 5,619 trades for less than 2,000 shares (81.8% of trades)
. there were 51 trades for over 20,000 shares (0.7% of trades). The total shares for these trades were 1.8 m shares.
All of the small trades are creating a price and are illegal.
If ASIC knows of this BS then they should act under the Corporations Act Section 1041 a and apply the rules set up by the Australian High Court in the DPP V JM matter.
ASIC must have been questioned about this 1,000's of times so why no action?
I am following this matter further because the more you investigate the more it stinks.
Keep the Faith
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$1.79 |
Change
-0.023(1.24%) |
Mkt cap ! $1.936B |
Open | High | Low | Value | Volume |
$1.81 | $1.82 | $1.78 | $2.729M | 1.519M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
57 | 63046 | $1.79 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.79 | 56101 | 43 |
View Market Depth
No. | Vol. | Price($) |
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58 | 62321 | 1.785 |
26 | 131282 | 1.780 |
13 | 159280 | 1.775 |
11 | 60460 | 1.770 |
10 | 295275 | 1.765 |
Price($) | Vol. | No. |
---|---|---|
1.790 | 33908 | 46 |
1.795 | 69656 | 19 |
1.800 | 185770 | 22 |
1.805 | 124101 | 14 |
1.810 | 49720 | 11 |
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