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Say I were to buy shares from myself at a higher-than market price, or place an All-or-Nothing buy order for a fantastic amount of shares, in what markets would it still be within the rules?

I'm thinking if the pink sheets in the USA, the AIM in the UK, or any other market, would have a problem with it?

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If you do as you suggest, you are adding the identical amount of buy side liquidity that you have added to the sell side.

IOW, if you owned 10,000 shares in one account before the transaction, then after execution you own 10,000 shares in the other account. There is no manipulation since you didn't drive price up or down. All you did was transfer the shares from one account to another at the cost of the B/A spread along with two commissions.

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  • Thinking aloud, somewhat, but could doing this, particularly with a lowish-activity share, trigger automatic trading routines into trading the stock and push up the price (the sort of thing that pump-and-dump tries to do)?
    – TripeHound
    May 4, 2018 at 8:41
  • "Pump and dump" involves artificially inflating the price of a stock via false information in order to sell stock at a higher price. What the OP has suggested will not move price at all. Traders look for price change on higher volume. Here, you have nothing more than a "Cross Trade" and it's without the benefit of a waived spread. May 4, 2018 at 10:49
  • I simply meant pump & dump was another way of trying to push up prices (I know their methods are different). The main point was whether -- for a stock with very little volatility -- a sudden trade like this could register as "someone else is buying this (there might be something interesting happening)" with automatic algorithmic trading software: if several of them "decided" to buy (on the chance that if others are buying, the price might go up) then it might actually push the price up. However, I can accept 10k might be too little volume to trigger this.
    – TripeHound
    May 4, 2018 at 11:08
  • You're conflating two issues. Pump and Dump involves buying pressure with increased volume and share price increase. The OP's theory involves a lot of nothing -shares are crossed at the same price with no price change. It could be 10 shares or a million shares - if price doesn't change then there is no net buying or selling so no one is going to look at that and say "Hey, it looks others are buying so I think I'll buy some". Why not assume that it's a seller rather than a buyer and short shares? (Hint, it's both so it cancels and is a big "nothing burger" :-). May 4, 2018 at 11:29
  • As for a stock with low volatility, if a large trade does not affect price (it's unchanged), volatility is unchanged. No one looks at that and sees a buying (or selling) opportunity. May 4, 2018 at 11:30

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