The liquidity has been persistently sucked out of NRT and transferred into ADRs.
The volume activity in NRT from 17th March simply lays the basis for volume in NVGN in subsequent days.
There can be very little liquidity left in marketable shares in NRT as what is not held by "permanent" Aussies probably accounts for most of the total.
Does anyone have an idea of what is left as NRTs?
