It is probably a given that most people reading here know that Penson has been the house of choice used to buy ISM shares for cancellation in both of the NCIB's. This latest one ends in March/11

http://www.inspirationmining.com/news.html?id=127

" First Canada Capital Partners Inc. will conduct the normal course issuer bid on behalf of the Corporation. "

http://www.firstcanada.ca/client_services.html

"First Canada Capital Partners Inc. is a correspondent broker. Securities transaction clearing and settlement services are provided to First Canada and their clients by Penson Financial Services Canada, the country’s largest independent provider of clearing services to the Canadian financial community. Penson Canada is a wholly owned subsidiary of Penson Worldwide, Inc. which has offices in Canada, the United States and Europe."

Todays big trades, as noted in my earlier post, show Penson as a seller. We do also see RBC pick up about a million shares and Penson unloads 700K or so

So IMHO I would say these two large trades are neither a Penson buy or an NCIB related purchase. BTW I have not seen Penson as a buyer for some time now.