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Probably an amendment of a trade from yesterday but can't be sure. I think it's rising because people are anticipating that Invesco are out and tangent have increased their position therefore making a buyout a possibility.

The 285,714 is an amendment so it makes the trades look weird.

Mine dropped into my a/c on the 16th

So the brokers have done it for 1bp commission?!

https://www.ethernitynet.com/blog/must-read-report-on-the-next-gen-central-office/

I've not downloaded the report but will try and have a look tomorrow.

Only 21k went through in the auction. Also just had a 1.5mm sell on a SINT at 3.5

Volume piddly though - only 50 grands worth of notional so far. Let's hope we get that block buyer back later!

And another 2.5mm on an SI

Hmm I wouldn't say anything sneaky is going on as EMSX is just a platform - the end broker will know who the order has cone from as will appear in their OMS. I imagine whoever sent the order put some specifics on the ticket though - i.e no fills below a certain size. 500k shares is only 15 or so grand which is pretty small change to a buyside firm trying to get hold of a decent position. On the note of instis - it's good to see Herald have some holding here, they've got a very good track record and have one of the best managers in the business.

I've traded over EMSX for years and it's not the case that Bloomberg are the MTF. EMSX is purely a platform for routing orders to brokers (it's broker agnostic) as they do not have their own exchange connections. When you trade over EMSX you don't settle with them, you settle the trade with your broker. Yes I agree that you can only get a SINT fill if it comes from an institution which is why I found it interesting there were those types of executions today on SEE.

Actually if you traded over Bloomberg (using EMSX) you would route the order to the broker connection of your choice. Once it's with the broker (an agency broker or big sell side) it's down to them where it gets executed. If it's a bank with their own SI they could use their own pool but you probably wouldn't specify this when sending the order as you're just after best-ex.

Actually now I've filtered on SINT trades there were a few on Friday as well - all block trades which makes sense. I would assume these are institutional orders.

SI's basically came about because of MiFID II - it's effectively a banks's own liquidity but I only thought you could get SI trades on electronic order book stocks, not with AIM listings.

Interestingly the Venue code on that 2mm trade is "SINT" = off book systematic internaliser.

Well for once I seem to have timed a purchase quite well. "No award has been confirmed" does not mean "we have not got the contract" and I would therefore place fairly short odds on the chap at Safestocks being correct.

FFS .. why do they need to comment on this? It's not exactly like it was in a broadsheet or anything.

Someone also bought 500k on NEX about 15 mins ago --

12/07/2019 11:46 500,000 3.09

LIF it's on NEX --

12/07/2019 11:09 133,311 3.056

Well, that 2 million buy will help with the overhang!

I just bought 100k at 3.0244 - there's actually a fair chunk of stock on offer at the moment so don't expect a move north quickly..