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Thread: Direct Broking

  1. #1
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    Default Direct Broking

    Does anyone know when direct takes over from ANZ Some months ago, there was great urgency to register and get details in order but we havn"t heard any more

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    Quote Originally Posted by rainey View Post
    Does anyone know when direct takes over from ANZ Some months ago, there was great urgency to register and get details in order but we havn"t heard any more
    Dec 7th is the changeover.

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    Quote Originally Posted by couta1 View Post
    Dec 7th is the changeover.
    Thanks for that

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    Placed a buy order at about 10.09 this morning. Account says placed at 10.11. It is now 10.51 and has yet to appear on depth page. Some shares traded at 10.14 at my bid and the buy price queue has grown with my order yet to show. Emailed them for explanation. Yet to receive a reply.

    A market is when all bids and offers are shown. If not shown then it is not a market.

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    Quote Originally Posted by 777 View Post
    Placed a buy order at about 10.09 this morning. Account says placed at 10.11. It is now 10.51 and has yet to appear on depth page. Some shares traded at 10.14 at my bid and the buy price queue has grown with my order yet to show. Emailed them for explanation. Yet to receive a reply.

    A market is when all bids and offers are shown. If not shown then it is not a market.
    I always phone them up if there are issues they don't mind .

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    Left the order in for an hour. No change so cancelled it.

    Replaced the order. It took 5 minutes before it showed on the depth page. This did not matter in this case but in a quick moving market I would have been annoyed at the delay in placing and showing in the market.

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    Quote Originally Posted by 777 View Post
    Left the order in for an hour. No change so cancelled it.

    Replaced the order. It took 5 minutes before it showed on the depth page. This did not matter in this case but in a quick moving market I would have been annoyed at the delay in placing and showing in the market.
    this is a common issue with brokers in nz , there is no such thing as direct to market order on the nzx for retail clients. they will first check to see if they can match your order in house then they will check to make sure your order will not distort the market then they may place your order. in a fast moving market crash most people will not be able to exit quickly.
    bull
    One step ahead of the herd

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    Quote Originally Posted by bull.... View Post
    this is a common issue with brokers in nz , there is no such thing as direct to market order on the nzx for retail clients. they will first check to see if they can match your order in house then they will check to make sure your order will not distort the market then they may place your order. in a fast moving market crash most people will not be able to exit quickly.
    Yet I put a sell order in a few minutes ago and already have the contract note.

    This is what I expect.

    I think in my earlier order that it was simply forgotten about in their processing.

    Still no reply from email sent.

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    Hi 777, I had the virtually the same experience yesterday, with processing an order which show up as placed on the screen but not showing in the market depth for some time so I rang one of their traders. It turns out that there is a manual component involved at their end to put an order through to the markets. They were short staffed yesterday due to January holidays and were struggling to keep up with the amount of orders.
    Hence if there is ever a rush for the exits, we are no show to get an order in the queue.

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    Quote Originally Posted by 777 View Post
    Yet I put a sell order in a few minutes ago and already have the contract note.

    This is what I expect.

    I think in my earlier order that it was simply forgotten about in their processing.

    Still no reply from email sent.
    Don't hold you breath for a reply. I send a e-mail more than a week before Christmas and you guessed ..............no reply.

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    Is CHI-X no longer quoted in the depth and sales?

    (Answer yes it does but not until market open it would seem)
    Last edited by t.rexjr; 19-02-2019 at 11:06 AM.

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    I was asked to complete a survey on improvements to the platform before the sale went through,by first nz capital,none of the improvements for traders ever happened,the only difference they added shareclarity which I couldn't care about anyway.
    So same old same old I'm afraid,it takes forever to to see your order go to depth,even if you buy or sell at bid or ask it takes ages to go through.
    I sent an email and told them I was totally unimpressed with it. My main hope was that the data would go live,but no such luck.

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    Quote Originally Posted by kizame View Post
    I was asked to complete a survey on improvements to the platform before the sale went through,by first nz capital,none of the improvements for traders ever happened,the only difference they added shareclarity which I couldn't care about anyway.
    So same old same old I'm afraid,it takes forever to to see your order go to depth,even if you buy or sell at bid or ask it takes ages to go through.
    I sent an email and told them I was totally unimpressed with it. My main hope was that the data would go live,but no such luck.
    It's straight out hopeless for trading. The data is live. Your orders simply aren't placed until the broker is back from their coffee/toilet break. Took them 41 minutes to place a market sell once. I now only use them for my looooong term investments where it's unlikely that I'll need to take hasty action.

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    Quote Originally Posted by t.rexjr View Post
    It's straight out hopeless for trading. The data is live. Your orders simply aren't placed until the broker is back from their coffee/toilet break. Took them 41 minutes to place a market sell once. I now only use them for my looooong term investments where it's unlikely that I'll need to take hasty action.
    It's hopeless if you want to buy quickly on a sudden dip like with A2 earlier today but otherwise I find the slowness often works in my favor on the sell side(A few minutes not 41) they do have other problems with their platform which are not good.

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    I find the way they use their discretion with my orders extremely irksome and slowness to market is often very problematic.
    Maybe ASB securities is better now days, it wouldn't be hard to be lol
    Only improvement is the call account interest rate of 2% for over $50K which is nice. Share clarity is completely useless in my opinion.

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    Quote Originally Posted by Beagle View Post
    I find the way they use their discretion with my orders extremely irksome and slowness to market is often very problematic.
    Maybe ASB securities is better now days, it wouldn't be hard to be lol
    Only improvement is the call account interest rate of 2% for over $50K which is nice. Share clarity is completely useless in my opinion.
    ASB is instant so use them for trading activities. I find the Direct Broking interface better though so view my trade goings on via DB and literally just use ASB to place the order

  17. #17
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    Default Seems Aaron McGrath jumps at any opportunity to be away from work.

    Quote Originally Posted by Beagle View Post
    I find the way they use their discretion with my orders extremely irksome and slowness to market is often very problematic.
    Maybe ASB securities is better now days, it wouldn't be hard to be lol
    Only improvement is the call account interest rate of 2% for over $50K which is nice. Share clarity is completely useless in my opinion.

    Aaron McGrath
    Client Experience Manager
    Aaron joined FNZC in 2018 as Client Experience Manager in the Direct Wealth division as part of the Direct Broking acquisition (originally ANZ Securities). He is responsible for ensuring our Direct Broking clients have a seamless and world class experience from account opening (on-boarding) through to client queries and trade executions.

    Prior to joining FNZC, Aaron worked in various roles at ANZ Bank. Starting in 2001, he worked in Institutional Operations leading International Payments and Market Operations teams. He was part of the integration of ANZ NZ Securities (formerly Direct Broking Limited) into ANZ Market Operations in 2013 and most recently has been Operations Manager of ANZ NZ Securities covering equity and fixed interest settlements, Client On-boarding (account opening) and the Client Service Team.

    Outside of work, Aaron enjoys restoring classic cars and will jump at any opportunity to head out on the water in summer.

  18. #18
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    Quote Originally Posted by t.rexjr View Post
    ASB is instant so use them for trading activities. I find the Direct Broking interface better though so view my trade goings on via DB and literally just use ASB to place the order
    I was a dedicated long-term fan of ASB Securities, but completely left them about a year ago.

    Direct Broking are yet to prove themselves inept (if they in fact are) but I eventually found ASB Securities hopeless to deal with. It took a great deal of work and 5 months to get myself out from under the Margin Lending stranglehold they had on me. I feel so relieved to have done so. So far I've had no problems with ANZSecurities/Direct Broking.. fingers crossed.

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    Quote Originally Posted by Vaygor1 View Post
    I was a dedicated long-term fan of ASB Securities, but completely left them about a year ago.

    Direct Broking are yet to prove themselves inept (if they in fact are) but I eventually found ASB Securities hopeless to deal with. It took a great deal of work and 5 months to get myself out from under the Margin Lending stranglehold they had on me. I feel so relieved to have done so. So far I've had no problems with ANZSecurities/Direct Broking.. fingers crossed.
    DB used to get orders to market within 1 or 2 minutes. Now at times it can take the best part of an hour.
    I even have had an Buy order partly filled, and the balance of the order not showing up on the debt. Subsequent transactions were lower than my buy order which was being ignored, then the price jumped and I had to increase the buy offer to get it filled.
    I suspect that they tried to fill the order in house.

    On top of that it seems returning e-mails is not a priority, still waiting for an answer of an e-mail send in December.
    Yesterday and today I tried to get hold of Aaron McGrath, the Client Experience Manager by phone no luck.
    I am not impressed.
    Sad sad way how direct broking seem to be loosing the plot.

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    Send all the principal's a link to this thread.

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