Surveillance detects any trading that falls outside of the normal pattern of changing prices and volumes. Surveillance monitors trading to identify situations where trading may be taking place in a listed entity but the market is not fully informed. Surveillance notifies the Listings department of the existence of the alert.
Listings then decides if it is necessary to contact the entity.
If so, the entity is contacted by Listings and requested to provide any undisclosed information that the ASX Listing Rules requires to be disclosed. Trading is monitored to ensure that stockbrokers comply with the ASX Business Rules, which are designed to ensure that trading is fair to all participants and an orderly market operates. This occurs when someone obtains information about an entity and trades in that entity's shares when the information has not been made public and the information would affect the entity's share price. This describes a deliberate attempt to interfere with the free and fair operation of the market. This is typically done by either spreading false or misleading information in order to influence others to trade in particular way, or using buying and selling orders deliberately to affect prices or turnover, in order to create an opportunity for profit.