Actually it was not bot trading they were prosecuted for - bot trading is about breaking a large order down into smaller pieces in order to execute it without disturbing the selling price. This stockbroker was prosecuted for phantom (or fake) bidding and buying and selling shares between their own accounts.
Bot trading (or more formally algorithmic trading) is not illegal (the ASX in fact even promotes the advantages of algorithmic trading on the ASX over Asian stock exchanges on its website), however placing orders you have no intention of ever executing and price manipulation through moving shares between accounts without any change in beneficial ownership is.
Actually it was not bot trading they were prosecuted for - bot...
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Last
$3.27 |
Change
-0.310(8.66%) |
Mkt cap ! $499.8M | |||
| Open | High | Low | Value | Volume |
| $3.30 | $3.40 | $3.23 | $6.799M | 2.065M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 24450 | $3.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.28 | 20000 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BMN (ASX) Chart |