Thanks so much for this.Pershing is the back end settlement...

Thanks so much for this.

Pershing is the back end settlement platform for bigger market participants such as wholesale, institutional and professional investors in trusts for nominees/custody services. When Pershing buys this is an indication of larger fish staking positions.

As SMX' is a ASX listed entity with global exposure, I would infer that a proportion of Pershings buying on market has been for international investors which tend to be long term positions taking free floating shares off market tightening up the share register