1. Hrm, ok. So apparently it's a 770B fund. Let's say they want to move .01% of their assets into MSFT. That would be $77M or about 2.2M shares. That would be a

1. Hrm, ok. So apparently it's a 770B fund. Let's say they want to move .01% of their assets into MSFT. That would be $77M or about 2.2M shares. That would be about 5% of the average daily volume of MSFT. 2. It's not a binary thing but a gradual transition from mostly human market makers in the 80s to mostly algorithmic market makers today. 3. I'm on shakier ground on this one, but a fraction of a % of their cost.