NZX advise that volume has increased four times since a while back.
Their website says they did $38.8 billion last year. which is only 100 mill per day
They say in a video that they did 1.3 billion last week.
I see Sharesies announced they did a record 80 million in a week.
If Sharesies are creating significan transactional volume increases , on only 80M a turnover week then they should be pushed to the side of the road. That is less than 20% value on a normal week. But it will only be 5% of the increased volume so they are a piddle in the bucket and yet are stuffing up the system.
BBMP
Bring Back Minimum Parcel sizes (honestly its not that much)
Wow. So much bitterness. You’re the 2 year old who doesn’t want to share the playground.
Originally Posted by peat
If Sharesies are creating significant transactional volume increases , on only 80M a turnover week then they should be pushed to the side of the road. That is less than 20% value on a normal week. But it will only be 5% of the increased volume so they are a piddle in the bucket and yet are stuffing up the system.
BBMP
Bring Back Minimum Parcel sizes (honestly its not that much)
Wow. So much bitterness. You’re the 2 year old who doesn’t want to share the playground.
No I'm not bitter but its finance not tiddlywinks.
I have followed your posts and fully applaud your investing and the strategy and totally agree that diversification is important for any portfolio
but even you aren't buying 3 shares or 27 shares you're buying small parcels that cost $500 minimum and that's totally cool.
I bought my first bond from Northern Territory Australia for $A500 - that was the minimum size and still wasn't worthwhile when I took exchange costs into account.
There must have been a reason for a minimum parcel and now we know what it was.
No I'm not bitter but its finance not tiddlywinks.
I have followed your posts and fully applaud your investing and the strategy and totally agree that diversification is important for any portfolio
but even you aren't buying 3 shares or 27 shares you're buying small parcels that cost $500 minimum and that's totally cool.
I bought my first bond from Northern Territory Australia for $A500 - that was the minimum size and still wasn't worthwhile when I took exchange costs into account.
There must have been a reason for a minimum parcel and now we know what it was.
I tend to disagree with you on this one Peat. Technology has allowed the minimum parcel sizes to be redundant. I too used to know the term "odd lot".
Unfortunately it is the NZX that is not up to the party here trying to run a modern system on old hard/software. The NZX have made Sharesies a market participant. More fool them if they did not see the enthusiasm that the ordinary folk had for investing in shares and being able to make their own balanced portfolios with minimal $.
I am in the process of making my own index fund, which I will manage and invest in on my own behalf. Now with Sharesies it is possible to do something like that even with a portfolio value of even say $25k. In the past it would have been prohibitive.
Mmmm .... I have no idea why you think that, but no I am not.
Prior to covoid I was investing $40 a week, split between 4 holdings. One of which is USF. So every week I was buying 1 point something of a USF share, and varying small amounts of my other holdings. Lately, I have not been making regular weekly orders but buying here and there as funds permit, if I think there is some value in buying. Yesterday I bought 30 something shares.
Which, as far as I am concerned, is also “totally cool.”
Originally Posted by peat
but even you aren't buying 3 shares or 27 shares you're buying small parcels that cost $500 minimum and that's totally cool.
Originally Posted by couta1
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