Forum Archive Index - December 1999

["Brien" <bc@wave.co.nz>]

They usually (or should) charge for the complete order and if it is filled
in a couple of parts that is done at no additional cost.  Check, but you
will probably find the balance of the order will be filled under the same
fee.  If not.....change brokers.

-----Original Message-----
From: owner-sharechat@sharechat.co.nz
[mailto:owner-sharechat@sharechat.co.nz]On Behalf Of Joe Spooner
Sent: Sunday, 5 December 1999 07:18
To: sharechat@sharechat.co.nz
Subject: [sharechat] Broker Question


I placed a buy order for shares recently with a limit. Unfortunately, the
broker only purchased 14% of the number I ordered. I have just received the
invoice for the transaction and it still includes the minimum brokerage fee
as well as a trade fee. Plus it states that the rest of the order is still
outstanding.

Obviously my brokerage fee is going to be inflated if the order is
completed. And the brokerage fee on the small parcel already bought equates
to around 2.5% for those shares.

My question is, can share brokers after receiving a request for a certain
number of shares to be purchased at a limit price then purchase them in
smaller parcels hence causing the brokerage to be a lot higher?

Regards
Joe



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