Trades using different online brokers

This might be a stupid question.
If I buy shares using ASB Securities, can I then sell those shares through ANZ Securities or do I have to use the same broker? I think in the states, investments are 'held' by the broker you used to purchase them (they charge to "transfer assets" to another broker, so from that I assume they 'hold' the stock/shares), but I'm not sure if it's the same here. I purchased shares through ASB Securities, but if I sell over $10K worth, it'll be a bit cheaper to do so through ANZ Securities.
Thanks.

Your account operates for securities issued under a one CSN. You can only sell securities issued to the CSN that is linked to your account. If you have securities issued to another CSN then you will need another trading account or transfer them.

Cheers

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Originally Posted by kiwichick

This might be a stupid question.
If I buy shares using ASB Securities, can I then sell those shares through ANZ Securities or do I have to use the same broker? I think in the states, investments are 'held' by the broker you used to purchase them (they charge to "transfer assets" to another broker, so from that I assume they 'hold' the stock/shares), but I'm not sure if it's the same here. I purchased shares through ASB Securities, but if I sell over $10K worth, it'll be a bit cheaper to do so through ANZ Securities.
Thanks.

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Yes you can. Your CSN and FIN number are the keys to your holdings, not the broker that you use.
Kev.

Thanks for the replies. I ended up contacting ANZ Securities directly and they said the same thing. Made a small sale this morning on ANZ since ASB has been down most of the day.

One thing to watch though is that purchases of Aust shares that end up being held by a broker's "Chess sponsor" holding for your account can be difficult to sell through a different broker. I suggest you ask your broker if this is/may be important to you.

On the question of selling shares through ANZ or any online broker, how do charges apply? e.g. if I were to list say 100,000 shares at a price which might see a small number sell one day, perhaps more the next day, then I change the price to meet the market and sell in 2 parcels over the next day or so. Is that 1 sale or 4? IOW does the initial charge apply to every sale or is it a oncer on the total listed?

The first trade will incur the minimum brokerage and then further sales will not pay any brokerage until the $15000 (ANZ) point is reached. From then on the .2% will apply to each trade until complete. Normally one contract note for the days trades.