- The funds which cause the few major near-term price moves, both up and down.
- Their big-volume block-trade transactions disrupt the every-day computerized continuous markets reported regularly.
- Trades which must be negotiated among groups of other institutions to satisfy the volume-trade initiator adjusting its multi-billion-$ portfolio.
- Privately-negotiatedlegal trades made to avoid front-running opportunism should the intentions ofthe initiator become known by an “investing public” of many small individualinvestors.
- Trades madepublic when filled at common price agreement by well-informed $-large-scalefunds taking “the other side of the trade”.
For further details see:
Morgan Stanley: Stock Prices Expected Soon