Direct Broking

[Timesurfer]

OK I need a broker than can conducts trades when apparently ASB has to follow the “rules” and follow the other brokers rather than lead the way.
Who are the brokers that I am following?

[Davexl]

https://businessdesk.co.nz/article/n...ystem-glitches **Paywalled**

It is also working with clearing system vendors to split certain functionality into different processing streams to improve throughput and engaging with software suppliers to market participants to optimise the interconnection between them and NZX's system and the registries to try to reduce system stress.


The measures follow mounting frustration from stock brokers over the number of breakdowns, which they said meant staff working long hours to deal with backlogs caused by the problems, and calls for an independent review.


NZX said the breakdowns it has been experiencing primarily involve its clearing and settlement system and that the root cause appears to be an about four-fold increase in trading volumes since early this year.


Peterson said NZX has had a trading system upgrade project underway since 2019 but, as a result of covid-19 delays and subjected to covid-19 developments and market feedback, it is now expected to go live later this year.

Capacity for growth
It will include the shifting of non-settlement functionality off the clearing and settlement system and onto the upgraded trading platform and is expected to provide sufficient capacity for significant further trading volume growth.

to go live later this year. **Too Bloody late!!**

[Cadalac123]

Sweet, couldn't sell a parcel the whole day two days ago, and now I can't even log on to check my portfolio on ASB.

1st world country NZX standards

[Davexl]

Sweet, couldn't sell a parcel the whole day two days ago, and now I can't even log on to check my portfolio on ASB.

1st world country NZX standards

Am logged in to ASB fine right now - took a while I admit, but got there eventially...

[oldtech]

Sweet, couldn't sell a parcel the whole day two days ago, and now I can't even log on to check my portfolio on ASB.

1st world country NZX standards

ASB has been up and down today, but to be honest that's nothing new ... seems like every few months I go through periods where it won't allow me to log on. I can log onto Fastnet (the banking side) usually, but not the Securities side.

[see weed]

ASB has been up and down today, but to be honest that's nothing new ... seems like every few months I go through periods where it won't allow me to log on. I can log onto Fastnet (the banking side) usually, but not the Securities side.

Well I am back on again after about 4 hours. It was horrible being blind to the depth. I spat the dummy and phoned ASB and proceeded to sell down all my holdings over the phone. Can't be bothered with this c..p, being locked out of trading site. Only got through 10% of holding and will sleep on it and see what happens tomorrow.

[sb9]

Well I am back on again after about 4 hours. It was horrible being blind to the depth. I spat the dummy and phoned ASB and proceeded to sell down all my holdings over the phone. Can't be bothered with this c..p, being locked out of trading site. Only got through 10% of holding and will sleep on it and see what happens tomorrow.

Placed a (buy) order today through them and it went through pretty smoothly for me, can't say it'll be same tomorrow though

[mp52]

No that is not correct. If you make a sale, then those funds are available immediately. I would get onto DB and get them to sort it. But if you placed the Buy order prior to the sale going through then DB are in the clear.

Thanks Blackcap - and for the benefit of others, DB re-issued the contracts with corrected brokerage after I emailed them. They referenced the NZX connectivity issues as the reason. If you're covering purchases with earlier sales - check your brokerage fees as timing issues may register them as unfunded trades.

[peat]

looks like they are boosting their staffing as there are a few job adverts from Jarden
with :

The key responsibility of this role is delivering consistently outstanding trading execution, in both fixed income and equities, for our DIY clients who invest via our online platforms

[Dotbond]

A couple or 3 weeks ago the DB system ended up selling the same block of shares twice! My partner phoned and emailed DB at the time and finally my partner got a call from DB this week to sort out the issue. That got sorted and we asked about getting cheaper trading rates. Was told at this point that's not possible unless we were trading well into 6 figures worth of shares. BUT the chap said DB are working on a new trading system and will be ready later this year and they are looking at the ability for cheaper trading costs. (Based on volume i assume, my words, not DB's)