UBS has been identified as the stockbroking firm behind the mystery price spike of a number of blue-chip stocks on the Australian Securities Exchange last Thursday.
Data available today showed that UBS had a $200 million order revised down to $56 million moments before the ASX 200 opened, according to sources inside the investment banking and broking community. Market data published three days after the initial share trades reveals the identities of firms behind transactions.
BusinessDay understands that at 9.56am on Thursday, six seconds before the trade began, a seller changed their price and volume order on stocks including ANZ Bank, Commonwealth Bank and AGL.
The sudden change in price lifted the ASX 200 futures index to 4606, pushing it above the 4600 level for the first time since the GFC, and raising fears of market manipulation.
UBS confirmed that it was one of their client's orders but had no further to comment to make.
Last Thursday, stocks in more than eight blue-chip stocks - including ANZ Bank, Commonwealth Bank, Brambles, AGL, Bank of Queensland, Ansell and Aristocrat - saw massive spikes in the seconds after they began trading at 10am. ANZ, which closed at $25.79 on Wednesday, soared to $27.63 on the opening bell, before collapsing to $26.16.