Very small share parcel buys & sells on NZX

[peetter]

Just got an email from Sharesies

Product update and what’s coming next

Last November, we launched Limit orders, giving you the ability to buy or sell shares at a specific price, or better! You can read more about Limit orders on our blog.

Next up, we’re working on:

• Adding the ability for you to transfer your existing NZX shares in and out of Sharesies
• Introducing a subscription add-on that allows you to see pending trades in real-time (also known as ‘live market depth’)

[justakiwi]

Wow! I am impressed, especially with the transfers. Was honestly not holding out much hope for that one. It shows that Sharesies are listening to us and taking our comments/requests/feedback onboard. Major thumbs up from me.

Just got an email from Sharesies

[peat]

Wow! I am impressed, especially with the transfers. Was honestly not holding out much hope for that one. It shows that Sharesies are listening to us and taking our comments/requests/feedback onboard. Major thumbs up from me.

sounds good, apologies for being cynical but if people use their ultra cheap brokerage and then transfer the shares out of Sharesies then sufficient revenue could be a problem for the company?

[DazRaz]

I would think there is enough business with funds investing. I expect that there will be a charge for transferring out of Sharesies, and the sub for viewing depth will add revenue. Should only help I expect.

[blackcap]

sounds good, apologies for being cynical but if people use their ultra cheap brokerage and then transfer the shares out of Sharesies then sufficient revenue could be a problem for the company?

They don't make any money out of holding your shares in sharesies though. So no I do not see that being a problem.

[justakiwi]

Well if they roll out the rest of things on my "must have" list, I will stick with them and bring my external holding over. Would probably need them to sort the ownership under my own CSN thing first though. We will see what happens but this is a bloody good start.

sounds good, apologies for being cynical but if people use their ultra cheap brokerage and then transfer the shares out of Sharesies then sufficient revenue could be a problem for the company?

[peat]

They don't make any money out of holding your shares in sharesies though. So no I do not see that being a problem.

Well they sort of do in as much as the subscription fee is based on the value of the portfolio. So it does matter to them if you transfer all the shares you buy out to be in your own name.
Still I leave the profitability of their business to them - and I do support it. I have some water based EFT with them and they take their fee every month out of the cash I leave there. The fund is doing well though so I cant complain.

[blackcap]

Well they sort of do in as much as the subscription fee is based on the value of the portfolio. So it does matter to them if you transfer all the shares you buy out to be in your own name.
Still I leave the profitability of their business to them - and I do support it. I have some water based EFT with them and they take their fee every month out of the cash I leave there. The fund is doing well though so I cant complain.

O I will have to go back and have a look. I thought I only paid $30 per annum and no more. That was the understanding I had when I signed up.

[DazRaz]

For totals less than $3000, it is $18 per year.

[couta1]

O I will have to go back and have a look. I thought I only paid $30 per annum and no more. That was the understanding I had when I signed up.

$30 is the max by the looks. PS-Did some fiqures last night and for trades over a certain amount Sharesies are significantly cheaper than what I pay now but not for 90% of the trades I do(Slightly more with Sharesies). I guess once they get live depth then all factors would need to be weighed up like interest on money sitting in account which even at 1.2% can add up if larger amounts are concerned, then theres the real person interface to consider should things need to be addressed quickly.