Forum Archive Index - November 1999

[Adam Rands <adam@iguana.co.nz>]

That's exactly right..

And the board is stacked high with directors who are dead against giving 
depth away to the general public..

these directors are typically from the firms (large insto's) who have the 
most to lose if the *mysteries* of depth are fully disclosed...if depth was 
widely available then the broker again loses one of their key *advisory* 
elements and the client will not have such a need to contact him.. *cynicism*

i thought when the NZSE changed chairman to Eion Edgar (forsyth barr) it 
would of made a difference given his company is more retail based... but alas..

i am afraid to say that it is almost impossible for the small retail based 
broking firms to exert any sort of pressure on the NZSE board (correct me 
if i am wrong).. the old boys club lives on..

i really can see no argument as to why the NZSE refuse to give away this 
information..

much like i can see no sense in why the NZSE charge a 4 cents royalty for 
every live quote delivered whilst the ASX only charge 1cent....

Btw : ASX are giving away quotes once the information is over 20 mins old 
as from Jan 2000

cheers

adam








At 09:57 AM 11/2/99 +1300, you wrote:
>Haddon
>Policy directives are driven by the Board of the NZSE not individual
>members. Members do elect the directors.
>DFM are advocates for the resale of live market depth
>
>Stuart H. Cairns
>email ; stuart.c@dfmtrade.com
>tel 64+9+307 9066 fax 64+9+307 9061
>Follow Bluehorseshoe's investment trading ideas
>for the New Zealand stockmarket
>http://www.dfmtrade.com
>
>
>-----Original Message-----
>From:   Haddon [SMTP:haddon@ihug.co.nz]
>Sent:   Monday, 1 November 1999 22:06
>To:     sharechat@sharechat.co.nz
>Subject:        RE: [sharechat] Market depth...Stuart Cairns
>
>Stuart,
>
>You refer to the NZSE as tho it was an autonomous entity writing it's own
>policy, whereas in fact policy directives are given by the exchange members
>ie the brokers we all deal thru.  At some point DFM must have argued for or
>against the resale of live market depth......true or false ???
>
>Haddon
>  << File: ATT00000.htm >>
>
>
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