I don't know Euroz and whether or not they have an insto trading desk or not but there is always widespread belief that its the insto buying and not clients from broker data.
Any trade I place shows up in broker data as an 'insto'. Some are simply client directed although in the case of Euroz I think they have clearly been instructing clients to buy IAM (as you have basically said yourself).
I don't know Euroz and whether or not they have an insto trading...
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