NZX Market

[RTM]

Saw below in Brian Gaynor's evidence in Mark Warminger market manipulation trial.

http://www.sharechat.co.nz/article/ec3c7971/milford-s-warminger-given-negative-performance-review-after-fma-inquiry-court-told.html

"The New Zealand sharemarket was unusual compared to others around the world, he said, because a high proportion – 65 percent and 70 percent daily – of trades are done by off-market negotiation rather than electronically. In yesterday’s trading, for example, there was $127 million of trades of which 68 percent were done off market, he said. "

Seems like a really high percentage. Makes me wonder about how much of a market the NZX really is when such a high percentage of the sales are off-market. Look forward to your comments.

Cheers
RTM

[Ace]

I've used stockness monster to check depth on stocks, and yeah there are a lot of off-market trades on the stocks I frequent - and I hope that I'm right in interpreting that it's off-market as stated and not from other platforms. Thankfully they've been falling closely in line with the market price of the stock when they're bought or sold.

[blackcap]

Saw below in Brian Gaynor's evidence in Mark Warminger market manipulation trial.

http://www.sharechat.co.nz/article/ec3c7971/milford-s-warminger-given-negative-performance-review-after-fma-inquiry-court-told.html

"The New Zealand sharemarket was unusual compared to others around the world, he said, because a high proportion – 65 percent and 70 percent daily – of trades are done by off-market negotiation rather than electronically. In yesterday’s trading, for example, there was $127 million of trades of which 68 percent were done off market, he said. "

Seems like a really high percentage. Makes me wonder about how much of a market the NZX really is when such a high percentage of the sales are off-market. Look forward to your comments.

Cheers
RTM

I could be wrong but the sales that are done "off market" are still put through the NZX and through FASTER or whatever system they use these days. So its more a case of after market trades and big chucks where a few $million go through at a time but they "market" still sees these trades go through. Just where the broker has a buyer and seller and matches them these amounts never were in the buy or sell column, they just appear as a trade. My wordsmithing is not that great but I hope you know what I mean.

[percy]

It has happened the odd time with me, that I have rung my broker to buy/sell ,and my order has not been quoted.
When I have checked with him I have been told the traders are working on something.
Seems to have always worked to my advantage.

[RTM]

Thanks all for your comments.
RTM