Direct Broking

[iceman]

Has anyone else noticed this? I've seen it for a while, and keep forgetting...but it is seriously frustrating. Basically - when you click into a depth view of a share, the share price displayed as the 'header' does not actually reflect the most recent trade. It never used to...has only started doing that a few months ago. It got me into a spot of bother once, which DB were very quick to fix for me. But it isn't a one-off...it keeps showing up in the view. Check out the example....right now its doing it with PLX as well.

Attachment 10758

Yep, noticced this on several occasions. But I think its always when there are very small trades ( BOTs) so maybe that has something to do with it !?

[Snow Leopard]

Small trades below a certain volume or value are excluded from setting a market price.

It goes back to the days when having bought 9998 of the 10,000 shares at $1 in your order the broker bought the last 2 at any price just to close the d*** order.

[peat]

Here are the trade conditions but they aren't shown so much these days

Trade Conditions.JPG

https://www.directbroking.co.nz/Dire..._glossary.aspx

[blackcap]

It would be really nice if Direct Broking provided the attachments to the NZX announcements.
Personally I find it a bit galling to read an announcement that says nothing and refers one to the attached document which isn't there. Which means I then have to go to NZX to obtain.

e.g.

Attached is a Notice under Listing Rule X.xx.x in respect of blah blah blah

quite frankly this sux
I'm a busy retired person I aint got time fo dis.

Just a suggestion guys, if you wanna be client focussed.

Delete them all after a month if space is an issue, but I cant really imagine it would be a serious issue.
Just get the attachments on your site , or links direct to the nzx if thats easier.

TIA

Well done Direct Broking. I saw a link at the bottom of the announcement that refers straight to the NZX site. Brilliant.

[RTM]

Well done Direct Broking. I saw a link at the bottom of the announcement that refers straight to the NZX site. Brilliant.

Yes that's much better. Thanks for highlighting it...hadn't seen it there....has it always been there ?

[peat]

I wasn’t sure if it was there before and wondered if I’d made ass of myself haha, but if I haven’t then yeh big ups to DB

[bottomfeeder]

Had to email DB on odd lot trading. Understandbly there will always be short trades, and unfortunately odd lot trades. But it is really annoying and adds to the cost of trading. I put an order in today for 500 WBC and picked up 2 plus brokerage. Not so dramatic with $30 shares but when buying MPG it would be a real downer. I emailed DB and suggested they really need to come up with a policy, whereby odd lot trading below a certain value should not incur brokerage until a substantial part of the order is filled.

Will let you know the outcome.

[Grimy]

When I have had an order not completely filled I have been charged the $29.95 (or whatever) and then when the order is completed with subsequent trades there has been no extra brokerage charged, so the complete order goes through with $29.95 brokerage.
I guess they charge it with the initial trade as if it was not done until the majority of the purchase was completed someone could get 2 or 10 or 100 shares, no brokerage and then cancel the outstanding order. Could get messy.

[blackcap]

When I have had an order not completely filled I have been charged the $29.95 (or whatever) and then when the order is completed with subsequent trades there has been no extra brokerage charged, so the complete order goes through with $29.95 brokerage.
I guess they charge it with the initial trade as if it was not done until the majority of the purchase was completed someone could get 2 or 10 or 100 shares, no brokerage and then cancel the outstanding order. Could get messy.

That makes perfect sense. Same amount of work for DB if they purchase 2 shares or 1000. Once a purchase (or sell) has been initiated they should charge bro on it. Indeed if you decided to cancel an order and then had to post date brokerage etc. Could get messy in the back office too. If you get hit for 2 shares you have a month to buy the remainder. Just up the bid to the ask and get the rest. Simple really.

[bottomfeeder]

I have been looking at the trades on a few shares, and wow there are so many odd lot trades going on, it is becoming a real problem. I do a lot of trading and getting to the stage where there is a gap between the buys and sells, I am so reluctant to put in a sell or buy order because if the risk of getting an odd lot but not proceeding with any further of the order. They become expensive shares. Odd lots are just a nuisance, and creates brokerage for brokers.