UOB KAY HIAN ASIA LIMITED 大華繼顯亞洲有限公司
SFC reprimands Ms Kitty Ho Yuk Ching, for circumventing Exchange trading rule, distorting price mechanism & failing to keep order records
SFC, 17-Dec-2003
So what is wrong with making a large bid at a low price, when there is no better bid? How can you "depress" a bid price when there isn't a previous bid? The spirit of the rule is to prevent input errors at prices far removed from the nominal price, not to prevent buyers from placing orders at prices they are willing to pay, even if well below previous prices. Nobody has to sell at that price if they don't want to.
SFC, 17-Dec-2003
So what is wrong with making a large bid at a low price, when there is no better bid? How can you "depress" a bid price when there isn't a previous bid? The spirit of the rule is to prevent input errors at prices far removed from the nominal price, not to prevent buyers from placing orders at prices they are willing to pay, even if well below previous prices. Nobody has to sell at that price if they don't want to.
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