Forum Archive Index - February 2000

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

Robert,

After the "Market Close", brokers are still able to report late trades until
4pm during an adjustment period. The rules are that orders in the NZSE
FASTER Trading system cannot be "improved" in position during this time.
i.e. Bids raised or Offers lowered, such that their place in the queue is
improved. Orders can be removed and trades can be reported. Trades can be
done between brokers during this period if both broking firms agree.

Kind regards,
Edwin Sutherland
Business Development Manager
Internet Broking
http://www.directbroking.co.nz


-----Original Message-----
From: Robert Nottage [mailto:robnottage@yahoo.com] 
Sent: Wednesday, February 02, 2000 3:58 PM
To: sharechat@sharechat.co.nz
Subject: [sharechat] "Extra buys" of AQL after closing time


I noticed today (on the DFM site)that after AQL closed
at 0.18 for the day, there were two "extra" buys
recorded at 3.34pm of 10,000 shares at 17.9, and at
3.43pm of 8514 shares at 17.8. 
I thought that when the stock market closed at 3.30pm,
no more shares could be bought.  Is it just the
brokers balancing up their books or are we operating a
really loose stock exchange in NZ?
Can anyone shed any light, or shall we pass this one
on to the Securities Commission?
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