Member Info for Brookkers

The retail brokers don't seem to lend shares but it's worth checking their terms and conditions. Note these may be different for an ISA or SIPP account vs. a trading account.

HL Ts and Cs state: "Investments will not be lent to a third party and we will not borrow money against your investments. "

Barclays Smart Investor terms state " We will not engage in stock lending for any Asset in your Account."

Interactive Investors seem to have a different policy. Their ISA terms state:
"You agree that we may act for other customers in a wide range of transactions with interests that differ from, or conflict with, yours. You also agree that we will not be required to disclose to you information known to us (or another member of our Group) that is confidential to those parties and may be relevant to your interests."

Clearly it's worth checking !

Watch out for more mid-price trades on Monday ...

Interesting to note around 400K shares dealt in mid-price trades (showing as 'Unknowns') on Friday after 3pm when the SP jumped. As the SP was rising I assume these were likely to be Buys. Could this be the MMs accumulating for a large buyer ..?

Also interesting listening to interviews with Spencer Crooks (real name!), Director of Market Making at Winterfloods - thanks to GeckoLovesGreed for these links.

From 16.00 mins in to Part 2, Crooks explains how MMs receive anonymous orders from large customers via dark pools. The example he gives is an instruction from a dark pool to the MM to keep buying or selling *at the mid-price* ...

https://www.youtube.com/watch?v=8FRvtuyZh3E
https://www.youtube.com/watch?v=YUGWwR9FzwY

Obmuj - click on the Filter tab, enter the name of someone you want to filter, next time they post you will just see a green box ...

Morning Infora
Good thought re NDAs but I think licenses are confirmed in regular notices posted by the issuing authority - therefore will be in the public domain.
Also the license will be issued to the MT operator Terskaya ...

Laughing at you already ...

[groan]

Morning all
If Jub are just acting as agent presumably they will have to pursue their clients for the money ... The wording of the notice from the Exchange to Jubilee seemed to suggest the Exchange might pursue the clients directly ... either way the individuals are in deep unowhat!

Yes excellent Mac ... lol.

Jumping to the present day calendar, the tenth day of the seventh month would of course be 10th July - the day after EUA came out of suspension.

Day of Atonement indeed ... !

Absolutely Mac - I am glad someone got the link !

Ironically, from biblical times, the Year of Jubilee was a year full of releasing people from their debts and returning property to those who owned it ...

One of the most persistent lies during suspension was that the Exchange had stepped in and suspended EUA for some breach of the rules, rather than the company raising a hand, so to speak, to suspend itself.

Interesting to note for future reference that if the Exchange really does step in because a Member is in default, clearly they issue a formal notice like the one issued to Jubliee .. link below from Ian's 10.49
https://www.londonstockexchange.com/information-sheet/jub-capital-management-llp/2020/44

The chief weapon is surprise ...

A quick identity change perhaps ...

Yes agreed!

Weathergeek - it is UBS acting on behalf of a client. Not UBS investing or going long etc!

Surely it's just UBS reporting that they have made two trades for clients ... they are obliged to declare them given their role in the formal sales process ... no?

I believe Directors (and anyone else inside the sale process) will be precluded from buying or selling shares as they have inside information ...

Glencore could well be interested but UBS are obviously impartial in this process ... (and their team are based in London).

Daniel - the ownership of the WK license didn't change when they decided to terminate the contractor/ operator. EUA still hold a 68% interest in the Russian company that holds the WK license ...