sharesies.nz

[blackcap]

Yes there is of course but the cost (not always $ cost) of divvying up parcels into less than $500 should fall on Sharesies administration not on NZX
I reckon they NZX caved in because they are shrinking from no new listings and needed revenue so badly that they couldn't negotiate a good deal with Sharesies. But hey pure speculation on my part.....

The question I have though Peat, is is there a cost to the NZX of having a bunch of small trades go through? I understand in the past that brokers were not happy with odd lots as there was a lot of registration and administration to contend with (especially before CSN). But now with shares held in nominee by Sharesies, I fail to understand the cost that is imposed on the NZX for the small parcels that go through the screen. Maybe a bit of bandwidth but apart from that nothing else.

[peat]

The question I have though Peat, is is there a cost to the NZX of having a bunch of small trades go through? I understand in the past that brokers were not happy with odd lots as there was a lot of registration and administration to contend with (especially before CSN). But now with shares held in nominee by Sharesies, I fail to understand the cost that is imposed on the NZX for the small parcels that go through the screen. Maybe a bit of bandwidth but apart from that nothing else.

the cost is borne by those who experience delays in their order processing due to overloading of the NZX systems, you know what everyone has been bitching about recently. each transaction has to be recorded even if its going to the same nominee account.

[blackcap]

the cost is borne by those who experience delays in their order processing due to overloading of the NZX systems, you know what everyone has been bitching about recently. each transaction has to be recorded even if its going to the same nominee account.

I was listening to a presentation by Mark Peterson (CEO of NZX) a few weeks ago. He implied that the delays etc were not an NZX problem but rather a broker back office problem.

That is at odds with the NBR presentation of things. But either way, it means the NZX or brokers need to get with the times (ie the digital age). They have not invested enough in that space is the conclusion I draw.

[peat]

I was listening to a presentation by Mark Peterson (CEO of NZX) a few weeks ago. He implied that the delays etc were not an NZX problem but rather a broker back office problem.

That is at odds with the NBR presentation of things. But either way, it means the NZX or brokers need to get with the times (ie the digital age). They have not invested enough in that space is the conclusion I draw.

Wow that would appear to be bull dung of the greatest order
Even NZX released a statement saying it was them

"NZX has experienced several technical issues in the last six

trading days. The root cause of these issues appears to stem from a

significant increase in trading volumes " Although I note it later says " The incidents primarily involve NZX's clearing and settlement system, which has come under significant pressure as it also acts as the gateway to report trade notifications and undertake shareholder balance enquiries for certain market participants." ….. as if to say that that there are different systems reporting trade notification and s/h balance enquiries for different participants. I honestly thought NZX had accepted responsibility for the delays.

[blackcap]

Wow that would appear to be bull dung of the greatest order
Even NZX released a statement saying it was them

"NZX has experienced several technical issues in the last six

trading days. The root cause of these issues appears to stem from a

significant increase in trading volumes " Although I note it later says " The incidents primarily involve NZX's clearing and settlement system, which has come under significant pressure as it also acts as the gateway to report trade notifications and undertake shareholder balance enquiries for certain market participants." ….. as if to say that that there are different systems reporting trade notification and s/h balance enquiries for different participants. I honestly thought NZX had accepted responsibility for the delays.

That is what I had thought too, but Mark from what I heard seemed to be blaming the brokers more than the NZX. Either way, the NZX have allowed Sharesies to operate on their platform, just like the algo traders, and if theirs systems are not up to it then they need to solve them. Then again they do run a monopoly so what would they care if they annoy Direct and ASB. Mark Peterson should know though, until recently wasn't he the CEO of Direct Broking?

[audiav]

Just wondered if those using Sharesies have any particular strategy? Usually I buy via ASB and have 3-5 NZ holdings. Didn’t investigate Sharesies till recently. Decided to dollar cost average into a NZ agriculture (wine/fruit/fish) basket If my choosing which is kinda cool. Thinking about doing the same for farming and forestry (probably using proxy’s such as POT).

[RTM]

https://moneykingnz.com/buying-share...irect-broking/

May be of interest. I’ll be staying with DB with my fingers crossed it gets a refresh at some stage.
Apologies if posted elsewhere.