given by ASX""I have reviewed the trading in Metabolic...

given by ASX"

"I have reviewed the trading in Metabolic Pharmaceuticals Limited (MBP) and the trading appears to be โ€˜direct market accessโ€™ trading (DMA trading).


DMA trading allows a client to send orders directly onto a trading platform without human intervention. One form of DMA trading involves a strategy to match the volume weighted average price (VWAP) for a stock over a day. As a means of capturing VWAP, a single order might be split up into several smaller orders which are submitted periodically (every 3 minutes for example).


Surveillance monitors DMA trading and expects brokers to have in place appropriate mechanisms to ensure that such trading is not manipulative. DMA trading is an increasingly popular means of trading, particularly when a participant seeks to track VWAP. As announced on 15 December 2005, ASX expects a significant increase in DMA trading going forward.


The ASX website www.asx.com.au contains a number of direct market access articles which can be located by searching "DMA"."

i DONT KNOW ENOUGH ABOUT IT TO COMENT YET!