sharetrader
Page 1 of 9 12345 ... LastLast
Results 1 to 15 of 128

Thread: Direct Broking

  1. #1
    Member
    Join Date
    May 2006
    Location
    Oamaru, , New Zealand.
    Posts
    54

    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

  2. #2
    Trying to get outta here
    Join Date
    Nov 2013
    Posts
    5,977

    Default

    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.

  3. #3
    Member
    Join Date
    May 2006
    Location
    Oamaru, , New Zealand.
    Posts
    54

    Default

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

  4. #4
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    2,504

    Default

    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.

  5. #5
    Advanced Member
    Join Date
    Jul 2002
    Location
    New Zealand.
    Posts
    2,373

    Default

    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 .

  6. #6
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    2,504

    Default

    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.

  7. #7
    Guru
    Join Date
    Jan 2002
    Location
    auckland, , New Zealand.
    Posts
    4,180

    Default

    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

  8. #8
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    2,504

    Default

    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.

  9. #9
    Junior Member
    Join Date
    Jun 2015
    Posts
    26

    Default

    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.

  10. #10
    Senior Member
    Join Date
    Aug 2002
    Location
    auckland, , New Zealand.
    Posts
    599

    Default

    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.

  11. #11
    Antiquated & irrational t.rexjr's Avatar
    Join Date
    Feb 2017
    Location
    Under the sycamore tree
    Posts
    311

    Default

    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.

  12. #12
    Senior Member kizame's Avatar
    Join Date
    Feb 2007
    Location
    Tauranga, , New Zealand.
    Posts
    715

    Default

    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.

  13. #13
    Antiquated & irrational t.rexjr's Avatar
    Join Date
    Feb 2017
    Location
    Under the sycamore tree
    Posts
    311

    Default

    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.

  14. #14
    Trying to get outta here
    Join Date
    Nov 2013
    Posts
    5,977

    Default

    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.

  15. #15
    Gnawing on Bones Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    12,139

    Default

    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.
    No butts, hold no mutts, (unless they're the furry variety).

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •