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Anyone else shut out from the ASB fastnet classic trading website, blimen frustrating
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Member
Originally Posted by Joshuatree
Anyone else shut out from the ASB fastnet classic trading website, blimen frustrating
all morning
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So will these cost savings from showing delayed market data be reflected in brokerage fees? especially if you sell less frequently although have larger volumes? Even if you buy and sell lets say 100-200k worth of shares netting hundreds in brokerage per trade, but it's been 91 days so you won't get live market data compared to someone who only netted ASB $30 in brokerage but within the last 90 days? Hardly seems fair on those who buy or sell less, and or have larger volumes.
The rationale is the long term buyers and sellers won't need live market feed, although it seems like their services to them is being diminished or 'throttled' per se with no specific benefit to the customer, hard to see how it's asb "want[ing] to ensure we continue to offer a cost-effective platform for all our customers." when there is no indication that cost-savings will be passed onto the consumer.
Last edited by Ace; 19-09-2017 at 10:07 AM.
Toward his critics, the artist harbours a defensive ace: knowledge that the future will erase the present.
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Not sure how my account is differently set from you guys but I was told that the way live data is presented will not affect me. Is it maybe because I got ML with them?
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Investor
Originally Posted by RGR367
Not sure how my account is differently set from you guys but I was told that the way live data is presented will not affect me. Is it maybe because I got ML with them?
I would say that you are probably correct. You are generating enough value to ASB for them to keep you aboard.
Originally Posted by Ace
So will these cost savings from showing delayed market data be reflected in brokerage fees? especially if you sell less frequently although have larger volumes? Even if you buy and sell lets say 100-200k worth of shares netting hundreds in brokerage per trade, but it's been 91 days so you won't get live market data compared to someone who only netted ASB $30 in brokerage but within the last 90 days? Hardly seems fair on those who buy or sell less, and or have larger volumes.
The rationale is the long term buyers and sellers won't need live market feed, although it seems like their services to them is being diminished or 'throttled' per se with no specific benefit to the customer, hard to see how it's asb "want[ing] to ensure we continue to offer a cost-effective platform for all our customers." when there is no indication that cost-savings will be passed onto the consumer.
You may be hard-pressed to find a private business which is going to reduce costs for the sole purpose of passing that cost on to consumers. I think the fees and services they are providing are reasonable and as per the below quote from their announcement you can still access live pricing data when placing an order:
"For all customers, market data and market depth in the ‘place an order’ process is always live during market hours so you have the latest stock pricing information to help inform your trading decisions."
Last edited by Investor; 22-09-2017 at 09:54 PM.
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Long Member
pretty disappointed with ASB really, I feel that it should be averaged over the full year. I've done around 20 trades on one account I oversee, but been a quiet few months. Today they have cut off the depth tab from the ASB interface. I do have another account which I have only done 4 trades on this year, that were conveniently spaced out in 3mthly blocks, and still has live data.
To me this makes little sense - presumably punish the one customer that is potentially a better income earner, and provide free data to a fair weather guy?
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Investor
Originally Posted by Well Endowed
pretty disappointed with ASB really, I feel that it should be averaged over the full year. I've done around 20 trades on one account I oversee, but been a quiet few months. Today they have cut off the depth tab from the ASB interface. I do have another account which I have only done 4 trades on this year, that were conveniently spaced out in 3mthly blocks, and still has live data.
To me this makes little sense - presumably punish the one customer that is potentially a better income earner, and provide free data to a fair weather guy?
As they pointed out it is because it costs them to supply this. Without such a system, people can join the share trading service for free and have access to live market data without completing any trading. If they were to restrict it to customer value, that would be less fair. As they have stated, you still get live information on the order page.
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Long Member
I kind of feel like the $600AUD I have already paid in brokerage in april/may should probably cover this for the year, and good business practice might be to average this over a 6-12mth window, I completely agree with disallowing freeloading.
But then again I dislike ASB ever since they declined to fill an order citing an orderly market movement clause that it would move the shareprice too much (>5%) on a reasonably illiquid stock (might trade $10k p/day av), so I had to go through another provider to place the buy order, which was circa $5k trade...bizarre.
Last edited by Well Endowed; 03-10-2017 at 10:28 AM.
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Where has the option to view depth gone? Just placed first trade in months and can't see it, tbh I can't every remember where I use to access it but find it quite helpful
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