Yes, that is correct, the client decides whether their scrip is lent, e.g. Stu isn't letting HSBC nominees lend out his stock either. The pool I refer to is the pool of clients who have entered into lending agreements, there are many, both local and offshore, which is a subset of the total nominee position.
And to Spockies point, I would retain MAQ as lender and sack them from everything else. I cringed when STX disclosed they are using MAQ for corporate advice, makes zero sense when there are other good options out in the market which is probably not true for lending.
Eregulla Deeps, page-265
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