Ann: OneMarket Media Release and Results Presentation, page-12

Hi @friendlydwarves

When one programmes an algorithmically distributed order (a.k.a. a bot), it is common practice to set a price limit for it, precisely to avoid “off prints” (such as accidentally crossing a 13.5% bid/offer spread, for instance).

It would be idiotic to set up a bot with no price limit on an illiquid stock, where the order book has no depth, don't you think? Therefore, it seems more likely to me that today’s “off print” was done on purpose, after deliberately nearly cleaning up the whole bid side of the order book.

Incidentally, yesterday’s close was driven down to 62.5c on tiny volume, after the quasi-totality of the day’s transactions occurred in the 66.0/69.5c range (VWAP was above 66.0c). So, there seems to be a bit of a pattern here.

If this activity is deliberate (which looks highly likely to me) it is expressly against the ASX’s rules, whether or not it achieves its purpose (whatever that is). That being the case, I felt it entirely appropriate to report it to the exchange.