from what I see, most of the cw/pw are priced in the correct sti valuefor example, STIBNPEPW071129, traded at 0.31 , which is -0.045 , if based solely on the "fake" sti (+15), it should not be this value. I believe those MM have their own system to make the market, which I believed is SimSCI so STI is what does not matter too much to their pricing in warrants, the key thing is, as individual, we cannot see the STI value, which is a bit .... take profit or cut loss, normally individual all based on STI level, if that is not correct, we are all in dark...