Further, the HFT operators do not have their computers between the ASX and brokers (Unless they are hackers!!) . The ASX receives the information first and distributes. New orders are executed against the standing limit-order book that existed when the order was received. There is therefore no time to withdraw an limit order once a new market order is received. There is also no opportunity to jump the queue of standing limit orders.
What they can do, does include when a large limit queue (say sell) is being hit with smaller buy market orders a HFT could place limit orders a pip below and jump the queue by asking for slightly less. This doesn't work for stocks like AJX where such pips rarely exist, but would work for one like CSL.
They can judge that the orders hitting the large queue are reaching a critical mass where it is likely to be line-wiped and wipe it themselves (the front running analogy in the Kohler article) and placing the shares on offer a pip or two higher.
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Last
1.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.18M |
Open | High | Low | Value | Volume |
1.1¢ | 1.1¢ | 1.1¢ | $118 | 10.75K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 86750 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 2629961 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 86750 | 0.011 |
6 | 4732035 | 0.010 |
3 | 511210 | 0.009 |
2 | 182600 | 0.008 |
1 | 200000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 2629961 | 3 |
0.013 | 1987914 | 4 |
0.014 | 134311 | 1 |
0.015 | 36316 | 2 |
0.017 | 15000 | 1 |
Last trade - 14.22pm 12/07/2024 (20 minute delay) ? |
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AJX (ASX) Chart |