I hope there is an enquiry of sorts, maybe everyone can be better educated on what actually happens in Algorithmic trading. (of whichever type - off screen, block and pool trades...etc).
Is it illegal? I can certainly say No to that. ASX and ASIC wields absolute power in the equities industry in Australia. The end of the trade day audit scans for dodgy activities and trade signals that every broker needs to answer to ASAP.
Are these institutional brokers good at what they do... hell yeh. It is the only way to fill orders of hundreds of millions $ worth of units without shooting the SP through the roof or depressing it too much. Should you be glad these big boys are buying and selling the same shares as you are... most definitely yes.
Lets put it this way. If La Mancha used my previous employers services in selling that 5% then the SP will not be this depressed... Which leads me to believe it was sold in the open market because the board knows that the SP was going parabolic and was not sustainable. If it kept going the way it did, it would have been a more painful correction. Is that manipulation... maybe but its for everyone's own good. Can't have these small imotional investors get too euphoric. They are the ones that cause crashes...
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