Forum Archive Index - February 2001

[Roy <baldman@internet-auditor.com>]

I read the debate about market depth interesting on a number of levels and 
make the following comments.

1. Emotive letters from small(ish) traders to the NZSE is a waste of time. 
This is shown by the fact that the issue has been around for a number of 
years and the NZSE must have received thousands of emails/letters/phone calls.

2. Understand what motivates the CEO/Board of NZSE!
They are predominately trying to please their members (and the large 
corporates) and stay within the law.
They are NOT trying to satisfy individual small(er) investors.

3. Sarah hits the nail on the head, if you want change, aim your 
frustration at the member brokers!

Other than the online brokers who want to streamline their operation and 
therefore support online market depth, go for the others. Open an account 
with some of the more "staid" brokers. Then ring every hour for market 
depth. (If you have nothing better to do ring every half hour).  Follow 
this up with letters to those brokers principals asking for online access 
to market depth.

The above strategy puts pressure on individual client advisers who are on 
commission and don't want to waste their precious time on the phone to you. 
In turn they will put pressure on their principals who in turn will put 
pressure on NZSE.  Just imagine a large brokerage house getting a 1,000 
calls an hour on their 0800 numbers :):) with no trades. That will 
definitely get their attention!

I suggest you stop wasting your time with NZSE and Ministers.
I have found that peeing into the wind generally only gives you wet & 
smelly feet!

Just a thort when nothing else will do!





"I Trade therefore I am"
Zen Trader philosophy

Roy


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