ASB Securities

[quartzpurple]

Could anyone tell me whether there is any difference in using ASB TO trade ASX shares from other Australian brokers like Etrade or Sanford in terms of trading speed?

One more dumb questions. do we and our australian counterparts all see the same trading depth in ASX?

thank you

[airedale]

Hi, QP, I have wondered about that when I am looking at depth on Access, looking at Aus shares. Is the depth we see in NZ the total depth in both countries , or merely what is on offer in NZ.

[OldRider]

My understanding is that all NZ brokers, need to manually enter an ASX transaction into the system of the ASX broker they use to make the transaction. Time can be taken to do this,but in practice I have not found it a problem.

For the ASX direct entry systems are available, for NZ I do not think this is possible.

I have not used them, I think E-trade has this available,and I have looked, and used the demo from Iress- http://www.iress.com.au/
look at both of these if you have not already,
my own opinion is that if one is trying to short term trade without a direct entry platform, one has a hand tied behind one's back compared to the many who do.

If you down load a demo and use, I think from memory it uses the system data, though 20 minutes delayed, nonetheless this will let you see what others know re depth etc.

[Oracle]

I think ASB is straight through. For Aussie trades they are quick, within seconds. For NZ they are slow. Well behind Direct Broking, for NZ.

ASB website, for traders wanting depth, is awful compared to Direct.

[George]

I use Iress through AOT and I can tell you that the depth is identical with Access except the latter only shows the total for each price eg. NAB, Bid 8931; while AOT has 2 bids at 8771 and 160, plus it changes before your eyes rather than having to refresh with Access.
ASB can be fast with ASX trades at certain times of the day but can take 5 minutes at others.
AOT is instant always, plus you have the option of trading warrants on Iress for the same brokerage as stocks - but there are pitfalls to trying to quick trade warrants such as the spread widening without warning when you're looking to sell for a quick profit. They don't fight fair.