Forum Archive Index - September 2000

["Richard Hooper" <hoop@ihug.co.nz>]

Ben ,
Sounds like Bill Foster would make a good politician. :)))))
Hoop
----- Original Message -----
From: "Ben Dutton" <bendutton@sharechat.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Monday, September 25, 2000 4:59 PM
Subject: [sharechat] Market Depth Petition Response


> Hi Everyone,
>
> I'm pleased to say that we have recieved an answer from the NZSE with
> regards to the Market Depth Petition that we held on ShareChat a few
months
> ago.
>
> Please read the below letter from Mr Bill Foster, Managing Director of the
> NZSE.
>
> Best Regards
>
> Benjamin Dutton
>
>
> Letter:
>
> 25 September 2000
>
>
> Benjamin Dutton
> Managing Director
> ShareChat Limited
> PO Box 976
> CHRISTCHURCH
>
>
> Dear Mr Dutton
>
> I acknowledge receipt of your petition from ShareChat members on the issue
> of the availability of Market Depth information from the NZSE.  I
apologise
> for not responding sooner, but as you are aware the Exchange is currently
in
> discussions with the Australian Stock Exchange ("ASX") over the prospect
of
> merging the markets and exchanges.
>
> As a consequence, the related issues of providing Open Access for Straight
> Through Processing to the New Zealand market and the provision of market
> depth have been deferred pending the outcome of these discussions.  Your
> members will be aware that the ASX provides both of these facilities.
>
> The position of the Exchange todate has been that members individually
> provide the information, which then collectively represents pre-trade
> information about the market.  The members therefore have the right to
> decide the basis on which this information is either shared amongst
> themselves or made available to other parties who do not contribute to it.
> Post-trade information is generally made available immediately in all
> markets, but there is much greater variation in the extent to which
> pre-trade information is provided by exchanges.
>
> The NZSE recognises the balance between the desirability of attracting
> trades to the market through the provision of more information and the
> interests of those member firms who collectively make up the market and
are
> responsible for the conduct of order placement.
>
> I repeat that these issues are under review pending the outcome of our
> discussions with the ASX.  We should have more of a clear view around the
> end of the year regarding future policy in this area.
>
>
> Kind regards
>
> W P Foster
> Managing Director
>
>
>
>
> P.S. I appreciate you requested an email response be sent to each of your
> members but as you will already have their email addresses recorded, I
> believe it would be more convenient for you to pass this response onto
them,
> if you would do so please.
>
>
> --------------------------------------------------------------------------
--
> http://www.sharechat.co.nz/          New Zealand's home for market
investors
> http://www.netbroker.co.nz/        Trade on Credit, Low Brokerage. Join
now.
> --------------------------------------------------------------------------
--
> To remove yourself from this list, please use the form at
> http://www.sharechat.co.nz/forum.shtml.
>


----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
http://www.netbroker.co.nz/        Trade on Credit, Low Brokerage. Join now.
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.