Index
How the desk is worked.
One order. Start on the floor. Do not start on the market.
8 shown
01
Post the floor
A small basket of living costs is paid first. The money is surplus that was already named.
02
Mint the tranche
New units enter on one public schedule.
03
Walk the invoice
A named obligation. It is not cash.
04
Read the tape
Title, mint, lien, conversion, and the registrar’s act.
05
Lock the window
Discount and risk are named up front.
06
Run the agent
Records and enforces the posted rules. Does not create new units.
07
Open the market
The width of the book is the data.
08
Read the remainder
What remains after paid first and the listed prices.