ANZ Securities to Direct Broking

[minimoke]

I predominately day trade so being able to execute orders in a timely fashion is pretty key.

I dont day trade so when I place my OCA order this morning it got filled n a timely fashion. Only delay were the slow pokes who didn't, initially want to match my buy bid. But give them a bit of time and they saw the light and so order completed in full within a few hours. As they came to market I could see my order being filled as first cab off the rank each time.

[mcdongle]

Is it not in their terms and conditions?

[Onion]

Yep, more people on the desk yet slower, they can also hold back your order if they think they have a chance of matching it in house and often they can't so then put it on the market.

I'm shocked if your assertion is correct. I've always thought that my orders went straight to the market (presumably once some validity checks had been made). I'm used to seeing my trades appear in the depth and subsequently in the "Recent Trades" list.

The NZX have been trying to increase transparency to the NZX and if trades don't go to the market it would appear counter to NZX's intentions.

http://www.scoop.co.nz/stories/BU180...-threshold.htm:

NZX today said it will introduce a $50,000 minimum crossing size for trading on the main board and NZAX markets, but that off-market trades can be made below that level "provided they result in 'price improvement' for both sides of the trade

[mcdongle]

i.Bringing Orders To Market – NZX Markets3.9. You authorise FNZC to exercise judgment and discretion in respect of all of your orders and placing those orders tomarket. We may (as we consider appropriate):3.9.1 accumulate or bundle orders coming to market;3.9.2 delay execution of your orders; or3.9.3 delay orders to facilitate Crossings.3.10. For the purposes of the accumulating or bundling of your orders, we confirm this may include bundling with PrincipalOrders or including Prescribed Person Orders in circumstances where, in our opinion, there is benefit to you in doingso.3.11. You may override this authority by clear instruction in respect of any particular order, and we will act on your specificinstructions, subject to the NZX Rules.

[stoploss]

In simple terms share price quote is .98-1.00 30000 on bid 100000 on offer .shares have dived from 1-20 level .I goto sell 10,000@ .98 as a stoploss . Meantime some Big Dig is lapping them up and inputs an order to purchase 100,000 @ 1.00 simultaneously . The broker improves my 10k to .99 by matching and the works on either trying for more at 99 or buying balance @ 1.00 . Problem occurs if someone else lifts the 100k or a takeover happens at 1.15 at same time they miss it .... One unhappy Mutt ........
( reply to Joegrogan )

[peat]

My first trade since DB took over today
it took two minutes for an order to be placed on the board - Im happy with that.

[Beagle]

i.Bringing Orders To Market – NZX Markets3.9. You authorise FNZC to exercise judgment and discretion in respect of all of your orders and placing those orders tomarket. We may (as we consider appropriate):3.9.1 accumulate or bundle orders coming to market;3.9.2 delay execution of your orders; or3.9.3 delay orders to facilitate Crossings.3.10. For the purposes of the accumulating or bundling of your orders, we confirm this may include bundling with PrincipalOrders or including Prescribed Person Orders in circumstances where, in our opinion, there is benefit to you in doingso.3.11. You may override this authority by clear instruction in respect of any particular order, and we will act on your specificinstructions, subject to the NZX Rules.

As expected, more wriggle room that a ferret in a bear's cave. Still very annoying though.

[minimoke]

My first trade since DB took over today
it took two minutes for an order to be placed on the board - Im happy with that.

I'm taking our easy first trades with DB as a positive market signal.

(Disc - ever the optimist!)

[peat]

As expected, more wriggle room that a ferret in a bear's cave. Still very annoying though.

but it would appear that you can remove their discretionary option (although this would require a phone call I guess - given I haven't seen a box tick option online)

[waikare]

My guess is that they didn't have the authority to change the payment instructions (at Computershare) to direct payments to the FNZC/DB account so defaulted back to cheque payments.

I got my MFT dividend by cheque the other day -- the first cheque I have touched in years. Like you my HLG dividend too is coming by cheque according to Computershare.

Make sure you log in to Computershare and Link and give them new instructions. With Link you can change for all holdings online. With Computershare they will send you a form to fill out, sign and send back (can be emailed).

DB replied yesterday to my email I sent on Sat. part of the reply reads as follows "We have contacted the share registries on Friday, so we are waiting on them to update the bank account details for existing clients. As you have discovered they have not yet acted on this instruction when you called on Saturday."


Received my HLG cheque yesterday, I managed to change my banking details on line with Computershare, but to cover all bases I will also complete the for they sent with the cheque.