Forum Archive Index - April 2000

["Wilfried Roding" <roding@xtra.co.nz>]

In reply to your earlier posting, I sent a letter to the NZSE a month ago
concerning the provision of on-line market depth information to small
investors/traders. I also drew comparisons with the ASX to substantiate my
point. I received the following reply:


Dear Sir

Provision of Market Depth Information

The policy of the Exchange has been to restrict the availability of on-line
depth information to the people who may trade directly on the NZSE market.

Member firms are obviously dependent on their clients for orders but at this
stage we do not facilitate directly on-line orders entered by clients of
member firms. We recognise that when this facility is provided, some form of
depth information will be necessary to assist clients with the placement of
their orders. Currently, this facility is restricted to the operators of
member firms.

We hope to have direct access facilities available by the middle of the
year. In the meantime, you may continue to obtain that information off-line
from NZSE member firms.

The NZSE does actively encourage the involvement of small investors and
traders. We have the most modern and efficient trading and settlement
systems which are amongst the best in the World. Relationships between
member firms and their clients are the responsibility of member firms and we
encourage member firms to promote the Exchange and the services they may
offer to their clients. The growing interest in direct access from clients
is acknowledged and, as noted we will be moving shortly to support that
interest. Trading and investment in off-shore markets usually involves a
higher cost, both in gathering information and in processing the
transactions. It also carries a higher risk of settlement failure unless you
deal with an NZSE member firm.

We would encourage you to actively seek out higher quality investments in
New Zealand which have proved capable of matching returns you may look for
in overseas markets.

Yours faithfully

W P Foster
Managing Director

CC:      Eion Edgar Chairman



Regards
Willi





-----Original Message-----
From: owner-sharechat@sharechat.co.nz
[mailto:owner-sharechat@sharechat.co.nz]On Behalf Of Phyllis Taylor
Sent: Monday, 10 April 2000 08:06
To: sharechat@sharechat.co.nz
Subject: [sharechat] Volune


Hi there - one and all

A short time ago (two months?) there was a spirited discussion regarding the
non-availability of volume for the NZ retail trader.    Tony - I took the
liberty of copying your letter and discussing with our President who agreed
whole heartedly with the idea.   We sent a letter to the Stock Exchange and
to date a great big NO REPLY  - not even an acknowledgement.

Did anyone else get an answer??

Good Luck everyone with to-day's goodies    Phyllis


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