Forum Archive Index - February 2000

[Sarah Corkill <Sarah.Corkill@directbroking.co.nz>]

Moose,

 

Thanks for your comments but I would like to set afew things straight.  NZ Brokers would love to be able to display market depth on their website's as many Australian brokers to.  The reason we can't is that the NZSE wont let market depth be seen outside a trading screen - so our hands are tied.  When we are allowed by the Exchange to display this data most NZ brokers would jump at the chance to be able to do so via the net.

 

You don't have to pay full priced brokerage to be able to get market depth either - we give out market depth to all our clients that ask.

 

When it comes to the trading in Force Corp. yesterday I'm not sure market depth would have been able to help you in this situation.  I have been  watching (and participating in) the recent trading in FOR shares, being able to see market depth yesterday would not have helped anyone.  Being able to see which brokers were bidding for shares and which brokers were selling shares would have!  The majority of sellers in FOR yesterday were the same people who began buying in the 53-70c region.  If someone offers to buy them at prices as high as $1.15 (which some bids were entered yesterday pre market) then why not take a quick profit and come back in when the market calms down?

 

I agree with you that many investors are becoming frustrated with the NZ market but to change that I believe we need to firstly tighten our insider trading laws (far to lax and offering no real deterrent for trading on inside information) to do this start petitioning your nearest Labour MP.

 

Kind regards,

 

Sarah Corkill
Direct Broking

 

-----Original Message-----
From: aorang@voyager.co.nz [mailto:aorang@voyager.co.nz]
Sent: Wednesday, 9 February 2000 23:54
To: sharechat@sharechat.co.nz
Subject: Re: [sharechat] Riding the AQL wave /Market depth

The comments regarding the sale/purchase of Force shares today @100c and subsequent closing at 85 highlights the difficulty NZ non institutional investors have investing when not having access to Market depth information.

Short term trading or just good buying over the internet is extremely difficult without this info being in the public domain.

I cannot understand why the NZSE members who offer internet trading are not making more of this issue.

The Australian exchange abounds with sites that offer this info in realtime so the software is available.

As usual NZ is so far behind it is not funny and more and more private investors are turning to trading via the internet in Australia using Australian brokers.

....and they wonder why no money is going into the NZ market.

Oh well, that got that off my chest!!!

Goodnight all,

moose

----------------------------------------------------------------------------

http://www.sharechat.co.nz/ New Zealand's home for market investors

To remove yourself from this list, please us the form at

http://www.sharechat.co.nz/forum.html.