The concern is whether the system can absorb that kind of volume without sharp price swings. Expected passive-fund turnover is nearly 30 times typical auction volumes, raising liquidity and volatility concerns Key points and original sources are listed below.

• The concern is whether the system can absorb that kind of volume without sharp price swings.S1

• Expected passive-fund turnover is nearly 30 times typical auction volumes, raising liquidity and volatility concernsS2