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Short squeeze party thread, page-293

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wednesdayschild

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18/08/24

12:38

Post #: 75256363
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Originally posted by Idle Wanderer: ↑

I accidentally edited out the last part of my post. So to make it even longer:

I'll put out a clue about HFT trading that I have observed. Whenever I make a trade on Market, either way, it is always met by probably a number of traders on the other side in reasonable size chunks - say of more than 5000 shares each, and mostly larger. Logically, I would expect my human instigated trade to be met by a hail of smaller trades, each of way less than 1000 shares and down to a single share, if the bots actually wanted to buy or sell stock to me. But that never happens to me and I'll bet it never happens to anyone else here either. This tells me that bots are actually running in something of a parallel market, slipping between genuine trades and trading with themselves at the speed of fibre optics. I'm not sure if it is still the case, but there used to be six HFT computers tied in to the ASX computers by exactly equal length fibre optic cables*. And each of these computers was owned and operated by a different trading house. If this is still approximately the case, then none of these HFT bots are even trading with each other. That's what the XT essentially means. Because if they were trading with even another bot, owned by another organisation, that would not be an XT. Each is, in essence, its own broker.

* Back in 2012, shortly after HFT bots first arrived on the Australian market, Alan Kohler described the process:
https://www.abc.net.au/news/2012-04-11/kohler-high-frequency-trade-parasites-at-heart-of-asx/3943052

I think that since 2012 HFT bots have moved beyond legalised front running to price manipulation. It is also logical to assume that bots these days are usually working on the short side against the weight of money going into Superannuation default products and Index Tracking Funds. They are very much like Shane Warne bowling to Graham Gooch. Same Ball Of The Century, every day.

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You may find review of ASX - CBOE best execution specific instructions methods for wholesale clients interesting.

STX Price at posting: 17.5¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 21.5¢		Change -0.005(2.27%)		Mkt cap ! $616.0M

Open	High	Low	Value	Volume
22.0¢	22.5¢	21.0¢	$4.542M	20.80M

Buyers (Bids)

No.	Vol.	Price($)
2	343465	21.5¢

Sellers (Offers)

Price($)	Vol.	No.
22.0¢	563407	9

View Market Depth

No.	Vol.	Price($)
8	680227	0.210
14	878187	0.205
16	1600122	0.200
20	1202513	0.195
29	1334836	0.190

Price($)	Vol.	No.
0.220	517953	8
0.225	1943976	12
0.230	1974439	22
0.235	670357	14
0.240	2349819	19

Last trade - 16.10pm 27/09/2024 (20 minute delay)

STX (ASX) Chart

Short squeeze party thread, page-293

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

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Sellers (Offers)

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Short squeeze party thread, page-293

Top Stories

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

ACCC seeks Olam divestments before it can buy Namoi Cotton

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The market's shrugged at China's stimulus measures all year. Why is this one different?

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Estrella first foreign entity to win tenements in Timor-Leste under new laws ahead of 2025 tenders

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

KalGold rolls out detailed aeromagnetic survey across Pinjin project

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News