Forum Archive Index - December 1999

["Joe Spooner" <joespooner@hotmail.com>]

Cheers Brien...will be interesting to see.


>From: "Brien" <bc@wave.co.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: RE: [sharechat] Broker Question
>Date: Sat, 4 Dec 1999 18:51:03 +1300
>
>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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