Direct Broking

[Beagle]

NZX rules do state you have to ensure an orderly market and cannot place bids offers that are too far removed from market etc. Not set in stone as such but some brokers adhere to these guidelines more strictly than others. Say the bid is 20 cents and offer is 50 cents and last trade was at 22 cents. Most brokers would not execute an order to buy at 50 cents.

Best bid $9.62 but broker won't execute a buy order at $9.68 just 6 cents more suggests to me that the wheels have well and truly come off at so called "Direct" Broking. Just 0.6% higher when the share moved in a 32 cent range the previous day...for goodness sake...what they did was actionable and I would have done exactly that if my order didn't get filled at $9.68 or under.

Not the first time either, the previous day I placed an order for some HLG shares at $4.34 to ensure in the opening match process I got a fill.
They dialed the order back to $4.30 of their own volition and I didn't get a fill. Some barking ensued later that morning and I demanded they give me a fill at the opening match price of $4.31.
Sure there was a jump on the opening bid but they had just issued a trading update !