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  1. #1
    Member
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    Oct 2016
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    Default Direct broking / NZX

    Incredibly slow today took almost an hour for the trade to become active and go through (nothing to do with my offer price)
    Is this happening with all brokers?

  2. #2
    Guru
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    Oct 2001
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    chch, , New Zealand.
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    Default

    Has been happening with ASB on busy down days

  3. #3
    Senior Member
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    Aug 2002
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    auckland, , New Zealand.
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    671

    Default

    Direct Broking service seem to be deteriorating.
    Answer phone talks about technical issues but it has been slow for many months now.

  4. #4
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    Jan 2020
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    31

    Default

    Sharesies has slowed right down. Had a market price order price up for about an hour and none filled. Plenty of depth when I check through ASB.

    Must be hectic at NZX.

  5. #5
    Member
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    Oct 2016
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    Default

    Yeah just about impossible to know and trade with such a volatile market.

  6. #6
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    Apr 2009
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    Default

    Quote Originally Posted by bottomfeeder View Post
    Yeah just about impossible to know and trade with such a volatile market.
    Does anyone else that markets should shut down in these situations or at least have 5% limit downs as we are seeing an enormous destruction of paper wealth in a very short time frame. this goes on to effect banks, peoples confidence, business confidence etc. Why not shut it down and not create such destruction, if we did that we would recover much faster after it is all over.

  7. #7
    Guru
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    Quote Originally Posted by waterboy View Post
    Does anyone else that markets should shut down in these situations or at least have 5% limit downs as we are seeing an enormous destruction of paper wealth in a very short time frame. this goes on to effect banks, peoples confidence, business confidence etc. Why not shut it down and not create such destruction, if we did that we would recover much faster after it is all over.
    Or not. Closing markets will just make the panic that much more exacerbated once markets are opened again and that will create a run. You need the markets to remain open otherwise confidence will disappear and all semblance of normality will be gone.

  8. #8
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    Oct 2016
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    Default

    Either way if the websites aren't up to date in a timely manner you could lose big time. Its just impossible if you don't know what are up to date SP.

  9. #9
    Hunting for Heuristic trends arc's Avatar
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    Dec 2013
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    On a boat in the Deep Pacific
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    423

    Default

    This is the difference between "Public-Level" access and "Broker-level-access".

  10. #10
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    Sep 2019
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    63

    Default

    Took me 20 minutes to have a buy order acknowledged and another 20 to amend. I was lucky to get the order filled. Now, looking for a quick exit on a profitable trade, price has hit my sell order twice but the order is still sitting there at 'placed' after - you guessed it - 20 minutes. Now the price is going back down. Waste of time amending as you'll be waiting half an hour before they take any action.

    Some amazing volatility to trade. Not much good if this is the level of responsiveness. They're obviously swamped with all the volume... I would have thought much of this process would have been automated.

    FFS.

  11. #11
    Member
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    Apr 2005
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    Incredibly show getting orders through. I placed an order into significant sell depth, it sat there for 15 minutes with no action (didn't even appear on buy depth, while other smaller trades were going through). Then that depth evaporated after 20 minutes and I've had to increase by bid price! But I can see that has not been actioned either (just over 10 minutes now, with ~10x sell volume available).

    This is insane. Calling them just rings through. I know it's a difficult situation but if they aren't able to get orders through in a reasonable timeframe (while other brokers obviously are), then should they not admit this and send people to other brokers for the time being?

    Am I being too harsh?

  12. #12
    Advanced Member
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    Feb 2011
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    Wellington
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    Quote Originally Posted by Caesius View Post
    Incredibly show getting orders through. I placed an order into significant sell depth, it sat there for 15 minutes with no action (didn't even appear on buy depth, while other smaller trades were going through). Then that depth evaporated after 20 minutes and I've had to increase by bid price! But I can see that has not been actioned either (just over 10 minutes now, with ~10x sell volume available).

    This is insane. Calling them just rings through. I know it's a difficult situation but if they aren't able to get orders through in a reasonable timeframe (while other brokers obviously are), then should they not admit this and send people to other brokers for the time being?

    Am I being too harsh?
    They need to spend some money and upgrade the system .....should just give you direct market access ( DMA ) .

  13. #13
    Member
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    Apr 2005
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    166

    Default

    20 minutes now, sell depth still 3 times my order, but my order hasn't even appeared on BUY side at any price.

  14. #14
    Member
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    Sep 2017
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    I lost about 20k because of this issue the other day. That's the end of my day trading. They simply don't execute orders, even when you're sitting there looking your buy and sell price right in the face. So frustrating. Cost me a ton of money,

  15. #15
    Member
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    Apr 2005
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    Quote Originally Posted by cymonger View Post
    I lost about 20k because of this issue the other day. That's the end of my day trading. They simply don't execute orders, even when you're sitting there looking your buy and sell price right in the face. So frustrating. Cost me a ton of money,
    Sorry to hear :/

    I know in the past when this has happened (pre COVID times) they've sometimes said they are "walking the price up/down" to get a better price, however, I'd rather they just placed the bloody order because it has occasionally (not every time) cost me the trade.

    Are there an NZ brokers that will just place your order as long as there's depth?

    EDIT: Now the phone won't connect, just get the telco "We're having some issues right now". I acknowledge everyone's struggling (including Jarden/DB) due to the lockdown situation, but what if someone were trying to offload shares into buy depth because they desperatly needed the cash? I know there are other brokers but that doesn't solve their immediate problem.
    Last edited by Caesius; 25-03-2020 at 10:08 AM.

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