My understanding is that Instinet Nomura are experts in the use...

My understanding is that Instinet Nomura are experts in the use of algorithmic and electronic trading systems:

https://www.nomuranow.com/portal/site/nnextranet/en/global-markets/equities-execution/

"Algorithmic trading

Instinet’s global, event-driven, multi-asset algorithms – the Execution Experts® – seek to meet any benchmark, participation or liquidity-driven trading objective."

I recall Instinet Nomura popped up significantly on the buy-side shortly prior to ADN initially entering the All-Ords last year and when there was correspondingly: (a) significant price appreciation; and (b) obvious presence of bot trading.

Hence I wonder if Instinet may be engaged in effect as a tool to assist funds accumulate shares effectively prior to an index rebalance or for other reasons. This is pure speculation and my thoughts only based on observations on the trading that occurred on ADN (as well as LTR - another large position I held from 2019 until recently) and where Instinet Nomura were present on both occasions.

Best wishes to all shareholders. Looking forward to this DFS!