RE: MM's22 Oct 2018 17:11
I would expect the seller and the MM to sign an agreement where the seller agrees to give up a block of shares for sale and the broker agrees to achieve a minimum price per share, or a minimum total amount. This gives the MM certainty and gives the seller no opportunity to change their mind half way through. Similarly the FI trust are simply processors of the deal, the real decision makers are likely to be Rhino Trust, and that decision will be irrevocable unless of course the price crashes down through the lower limit set. The MM will try to keep the SP in the sweet spot where the shares make the minimum price needed but also where buyers hoover them up. PI sellers or other MM actions may interfere with the status quo but buying shares as close to the selling price achieved by the seller seems to me to be the best strategy for us, so its the usual punish the dips that will win out. If the MM can also tease out some shares from PI at lower prices then of course they will, but the opportunity to move big amounts of shares means achieving the MM/seller required price. IMO gla