Forum Archive Index - March 2000

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

If you have an account with a US broker then your fee's will be cheaper.  If
you are using a NZ broker to do the transaction on your behalf then it will
be more expensive.  Most NZ'ers don't have US broker accounts (or Australian
accounts for that matter) directly and therefore there fee's will be more
expensive.

-----Original Message-----
From: Les Read [mailto:lesjenread@xtra.co.nz]
Sent: Thursday, 16 March 2000 14:52
To: sharechat@sharechat.co.nz
Subject: Re: [sharechat] shunting - question for Sarah


Sarah,
Surely US brokerage is cheaper not dearer. I  trade at  $US8  per trade
compared
with $NZ20 & Oz$39.95.  At     1 US$ = 2NZ$ it's still cheaper.

Les

Sarah Corkill wrote:

> Hi Derek,
>
> There is no easy answer to this question.  There is no registry in the US
> for ITC shares and they are traded on the OTC market.  The registry has
told
> me that any transactions done in the US market still have to be settled on
> the NZ or Australian registry.  The company hasn't be anymore helpful on
> this one.
>
> I am going to make enquiries with our US broker as to exactly how it could
> be done because with our topic of shunting today there are quite afew NZ
> investors who would be overjoyed to sell their shares at US prices.
> Remember that brokerage in the US is expensive when compared to NZ so
> depending on the number of shares your holding it may not be worth the
extra
> expensive.
>
> Watch this space and I'll see if I can come up with any further positive
> information for you.
>
> Regards,
>
> Sarah Corkill
> Direct Broking
>
> -----Original Message-----
> From: Derek Watt [mailto:watt250@hotmail.com]
> Sent: Thursday, 16 March 2000 23:19
> To: sharechat@sharechat.co.nz
> Subject: RE: [sharechat] shunting - question for Sarah
>
> Sarah-
> Shall I ask the obvious question?
> How easy is it to buy ITC in NZ and sell in the US?
> Thanks,
> Derek Watt
>
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