Forum Archive Index - October 1999

[Edwin Sutherland <Edwin.Sutherland@directbroking.co.nz>]

I would like to clarify the brokerage charges which apply to Direct Broking
transactions.

Currently we have two rate structures which apply to Internet transactions.

If clients have a Call Account with Direct Broking, and they have enough
funds in the Call Account to cover the value of the transaction if
purchasing, the charges which will apply are $25.00 plus 0.05% of the traded
value.

If clients choose not to operate a Call Account with Direct Broking then we
will process transactions at a rate of $25 plus 0.35% of the traded value.

These rates are advertised on our website (www.directbroking.co.nz).

If an order is partially completed, brokerage is applied to the first part
of the order at these same rates, but as remaining parts of the same order
are completed, brokerage charged on the first part is taken into account.
This results in the $25 being charged only once, on the first part order
completed.

Our phone rates are:
$4 plus Brokerage of 1.25% of the trade value on orders up to $8,000
(minimum brokerage is $20.00)
For trades over $8,000, the balance of the trade value exceeding $8,000 is
charged at 0.8%.
For trades over $20,000, brokerage is negotiable.

There are no charges for opening accounts

We are currently conducting a survey on our Internet brokerage charging
structure and anyone who visits our website is welcome to have their say.

Regards,
Edwin Sutherland
Business Development Manager, Internet Broking
Direct Broking Limited.

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