This is a house note on the tape, not a solicitation. The figures are delayed. The book in the client area stays on paper until the live market is connected.
What the desk is recording is the split: front end versus long end, guidance versus EPS, prompt versus crack, index versus breadth. Each split stops one headline from explaining the whole book.
Funding, clearing, and real orders come later. Until then the note describes. It does not route.
What the desk is watching
- Not a solicitation
- Figures delayed
- The book stays on paper