RE:Instinet I will escalate to the regulator if our grievance remains unaddressed.
6 March 2024
Compliance Officer, Executive Director
Instinet Canada Limited
Dear Sir,
I'm writing you concerning what I believe to be abusive, manipulative, and deceptive trading activities that I believe are violating the Universal Market Integrity Rules.
One or more account holders at Instinet Canada Limited appear to be using algorithmic trading strategies to create an artificially suppressed sale price for a security on the Toronto Stock Exchange (TSX:BABY - Else Nutrition Holdings Inc.) by continuously selling small lots at market.
While I have my suspicions of what organization is responsible, I reiterate that I have no way of determining the identity of the account holder at Instinet Canada, and make no representation, implied or express, as to the identity of the unknown market actor that is suppressing the Else stock price.
I have tried, in good faith, to reach out to the management and board of Else Nutrition Inc with no response and continue to watch as my investment suffers a death of a thousand cuts.
I respectfully request that as the Compliance Officer for instinet Canada, you please investigate the trading activity of Else Nutrition shares (TSX:BABY) for trades where Instinet Canada is broker for the seller, buyer, or often on both sides of the transaction.
Thank you in advance,
Else Nutrition Holdings Inc. Shareholder