Enough is enough with this rubbish. A marketable parcel is $500. Pushing through a single trade for 159 shares @ 27c is not by any definition a marketable parcel not could it in any way shape or form be a legitimate and worthwhile exercise in trading. Doing so after the close of trade to deliberately push the stock price lower can be nothing more than manipulation of the market.
Why do we have to tollerate this rubbish ? The ASX collect significant fees for every transaction that we perform (they charge our brokers who charge us) so why is it that they don't bother enforcing the rules.
At the end of the day we want and expect to see a price that reflects what people who traded during the trading day thought the stock was worth, not what some firm decided they would like to see the price at 10 minutes after the official close of trade.
Some poor retail investor who wanted to buy 15,000 @ 27c now has to pay brokerage on a $50 trade because they have a partially executed order. It is quite possible that they will not see the rest of this order filled at these prices so the firm that pushed through this 157 shares after the market closed may well be costing genuine investors real money by way of additional fees. This is one of the things marketable parcels are designed to prevent.
Sorry about the rant. Just sick of the two different sets of rules. One for us retail investors and another set for member firms.
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