(b) può rivelare l’intero ordine nel portafoglio, con una conseguente inevitabile caduta del prezzo, in concomitanza con l’improvviso aumento dell'offerta (a detrimento degli OICVM della sig.ra B e degli altri investitori che stanno vendendo nello stesso momento), o c) può chiamare una fra varie banche per chiedere se è disposta ad acquistare le azioni.
Take a UCITS manager, Mrs B, who wants to sell 100,000 shares in a listed company – a size which is more than the number of shares normally quoted for that company. Presently, she has 3 choices: (a) she can trade slowly on an exchange and risk the price moving against her over time; (b) she can reveal the whole order on the order book, meaning the price will almost inevitably fall with the sudden increase in supply (to the detriment of Mrs B’s UCITS and other investors who are selling at the same time); or (c) she can ring one of several banks and ask if they are willing to buy the shares.
