RE: TEAM 17Director shows massive vote of confidence with £200,000 buy27 Nov 2023 09:32
Bridgedogg1
When you see large lines of stock going through at the same price, it's generally Institutional Business.
It's called an Agency Cross, usually conducted at the Mid Price so that it doesn't affect a Funds valuation - it just drops right into the portfolio (which is valued at Mid Price).
The MM's will facilitate the Business via their Sales Trading desk ( the Sales Guys and Girls who speak directly with the Pension Funds) and will charge the client a commission of 'X' Basis points.
That differs to a retail punter, who buys stock from the MM's via a Broker, where MM buys TM17 stock from a seller at say £1.83 and sells it at £1.87 to a buyer making a 4p profit on however many shares he sells.
Every little helps.