Forum Archive Index - March 2000

["Malcolm Eves" <malcolm@hbfs.co.nz>]

I had an issue with these brokers when Chrome Global listed. I was a new customer,on line etc. I ordered shares and because you had to buy at market online I had little control over price. However I talked it thru with them and agreed by email on $0.45 max price. You can imagine my horror at receiving a contract note at $0.98!!. Sent it back and said to stick it and then received a contract note for $0.58!! What am I to believe I thought so said stick that as well. Finally after seeing the price around $0.60 mark I rang up and paid that price.( Dope!)  so I think there are some tricky things in that house.

----- Original Message -----

From: James Webb

To: sharechat@sharechat.co.nz

Sent: Thursday, March 02, 2000 9:27 PM

Subject: Re: [sharechat] DFM

Speaking of ethics, I have twice recently had shares purchased at my maximum order price with DFM despite the fact that the shares had traded  lower than my max order price all day.  Has anyone else had this happen to them?  What do others think of the ethics of this purchasing practice?  If I didn't know otherwise I might think that DFM were purchasing shares at a lower price and trading them to me to make a profit?  What are the trading ethics on this point?

Cheers, James

Stuart Allen wrote:

>It is my belief that DFM plan to increase their stakeholding in AQL by
>initially devaluing the share price by the comments they make on their
>website, and then begin "soaking" (buying)up the shares at bargain basement
>rates.does anyone else think that this might be a bit unethical for a firm such as DFM (share broker)