Forum Archive Index - March 2000

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

Dear Max,

The offical name for the unlisted market is the "Unlisted Securities
Facility" UFS for short.  Companies are traded on the UFS at the request of
a broker who is a member of the NZSE.  

1-How do I find the stock codes?

Try our website (no Ben this isn't free advertising)

http://www.directbroking.co.nz/ and we have a list of all the unlisted
securities with company codes and you can enter buy and sell orders.
If there is something you can't find ring your broker and ask.  They should
be more than happy to help you.

2-Do other sites provide regular updates on unlisted
stock prices?

Unlisted securities have no listing agreement with the exchange and as such
aren't required to provide company announcements the same way company's such
as Telecom do.  Your best source of information is to ring the company
directly.  Contact details should be available from your broker.  Under the
Companies Act shareholders are entitled to request information from
companies they hold shares in.


3-Can I do online trading on other sites using the
unlisted stock codes, or do I have to go through a
broker?

Yes you can use online trading for unlisted securities.

4-Does the unlisted market operate on the same
buy/sell principles as the open market i.e. when you
sell, you only need to provide your fin/holder number
or are there any other rules, regulations,handicaps or
frustrations I should be aware of if I intend to trade
on the unlisted market?

No, unlisted securities are still done under the old certificate system.  No
FIN  or shareholder number will be issued.  When you sell the shares you
have to sign a transfer form and provide the original copy of the share
certificates.  There is no set settlement time for unlisted securities and
it is not unusual for it to take several months to receive your
certificates.

Kind regards,

Sarah Corkill
Direct Broking



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