I would say it is mostly Shaw doing the selling for Arena, same...

I would say it is mostly Shaw doing the selling for Arena, same procedure and insto broker as last year during the ruby funding. They are hitting the bids not to keep the price down but simply following Arena's instruction. Convert low and sell high or higher, lock in profit and maintain no exposure. In fact they could sell first if they see the price rising and then lodge notice to convert on the same day.

The notable party this time is Credit Suisse on the buy side although reason unknown.


01/06/18 - 19/07/18

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9
0	Broker	TotVal	NetVal	NetVol	BuyVol	BuyPrc	SellVol	SellPrc	Rank
1		9427486.342			258,102,690.00	1.8263	258,102,690.00	1.8263
2	ASX Anonymous	2446049.49	-8,500	-500000	61,313,496.00	1.9878	61,813,496.00	1.9854
3	Commonwealth	1760687.931	87,466	4790404	51,777,363.00	1.7847	46,986,959.00	1.7805	1
4	OpenMarkets	1172384.696	4,062	568889	34,064,386.00	1.7268	33,495,497.00	1.744	2
5	SILA	647640.4325	135,866	7230935	22,146,207.00	1.7689	14,915,272.00	1.7156	3
6	Shaw	620787.187	-620,787	-34443453	0.00		34,443,453.00	1.8023	4
7	ABN AMRO Clear	464748.487	-1,756		13,212,688.00	1.7521	13,212,688.00	1.7654	5
8	IBA	342035.281	-82,805	-4261617	7,681,172.00	1.6874	11,942,789.00	1.7786	6
9	State One Stock	339642.628	53,798	3300000	11,171,500.00	1.7609	7,871,500.00	1.8157	7
10	Credit Suisse	318643.915	218,012	11178223	14,030,223.00	1.9125	2,852,000.00	1.7642	8
11	AIEX	298660.4105	39,193	2064588	9,486,288.00	1.7807	7,421,700.00	1.748	9
12	Wealthhub Sec	191281.829	33,795	1948015	6,138,770.00	1.8332	4,190,755.00	1.879	10
13	Virtu Financial	116635.94	-1,165	8814	3,352,947.00	1.7219	3,344,133.00	1.7613	11
14	CMC Markets	109847.537	18,388	1021258	3,554,014.00	1.8041	2,532,756.00	1.8055	12
15	CMC Mkts	101295.544	-1,312		2,850,866.00	1.7536	2,850,866.00	1.7996	13
16	UBS	85756.791	85,157	4564223	4,579,223.00	1.8662	15,000.00	2	14
17	Merrill Lynch	85394.137	9,700	536991	2,644,794.00	1.7978	2,107,803.00	1.7956	15
18	Wilsons	68018.123	-64,618	-3516883	100,000.00	1.7	3,616,883.00	1.8336	16
19	Macquarie Retai	36550	31,450	1850000	2,000,000.00	1.7	150,000.00	1.7	17
20	Third Party	26703.887	15,129	808977	1,156,004.00	1.8094	347,027.00	1.6677	18
21	Bell Potter	25314	6,814	400000	950,000.00	1.6909	550,000.00	1.6818	19
22	Hartleys	23750	-23,750	-1250000	0.00		1,250,000.00	1.9	20
23	Citigroup	23017.061	-3,306	-177537	561,719.00	1.7545	739,256.00	1.7804	21
24	D2MX Pty Ltd	18660	18,660	1105000	1,105,000.00	1.6887	0.00		22
25	ITG Aust.	15800	15,800	790000	790,000.00	2	0.00		23
26	Morgans	15768	-15,768	-809500	0.00		809,500.00	1.9479	24
27	Morgan Stnly WM	14301.2	7,099	324925	550,000.00	1.9455	225,075.00	1.6	25
28	Baillieu	13600	13,600	800000	800,000.00	1.7	0.00		26
29	Morrison	11200	11,200	640000	640,000.00	1.75	0.00		27
30	JPMorgan	9346.9915	9,347	507522	507,522.00	1.8417	0.00		28
31	Argonaut	6800	6,800	400000	400,000.00	1.7	0.00		29
32	Deutsche	5200.859	-99	-11985	132,383.00	1.9268	144,368.00	1.8357	30
33	Morgan Stanley	4804.7415	4,805	260961	260,961.00	1.8412	0.00		31
34	Pershing	3120	-3,120	-180000	0.00		180,000.00	1.7333	32
35	Patersons	2445.494	2,440	145000	145,164.00	1.6828	164.00	1.65	33
36	FinEx	1593.75	-1,594	-93750	0.00		93,750.00	1.7	34