Dude that is the biggest open secret on the ASX (thought the above not a perfect example). The executing algorithms on close do battle in the big boy stocks on similar latency so it becomes impossible to do. On the smaller stocks with less competitors, if the stock is $0.265 bid for 10,000 and also $0.265 offered for 10,000 with seconds to go (looking like a clear $0.265 match out), and a professional really wants to buy stock, he/she/they are not going to just put in an order to pay $0.27 for 10,000 to beat the other bid and lift the closing price to $0.27. They are going to put in a bid of $0.27 for 9,999 and supersede the $0.265 bid on all but 1 lot. That one lot balance tips the closing match out to stay at $0.265 (i.e. they get 9,999 stock for $0.265 rather than $0.27) and the poor front run bid gets to buy 1 lot with 9,999 lots left unfilled.
And vice verus for selling, hence you might get 1 lot left over, as above (thought there is other volume behind in your example (may have come in late). The seller has front run sold as much as they can without driving the stock down too far.
PAR Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
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