Forum Archive Index - August 2001

["Ben Dutton" <bendutton@sharechat.co.nz>]

Hi Nick,

Your sentence:

"The Internet is making possible transactions in any market at the push of a
button at any time of the day"

is very important indeed.  I am continuously stressing to our listed
companies here that they no longer have a "home exchange" advantage.
Investors can, as you say, trade on almost any major market in the world at
the click of a mouse.  ASB Securities and Access Brokerage now offer trading
on the ASX at almost the same brokerage levels as trading on the NZSE - thus
there are no longer high barriers to enter overseas markets that offer a far
greater range of quality companies.

This means that the competition for the investor dollar has never been
greater and, if investors don't like what they see, they can vote with their
feet.  Thus NZ companies have to improve their game to retain investor
dollars.  They have to communicate better, they have to disclose greater
amounts of information to their shareholders and the investing public (Brian
Gaynor has been a great advocate of increased disclosure but we need more
voices like his).  And of course, they have to improve their business
performance too.

I think the next few years are going to be very important for the future of
our Stock Exchange.  We need leadership, and we need companies that take
being listed on the exchange seriously.  Otherwise Chalkie's and your
statement may prove correct and no-one in New Zealand wants to see that
happen.

Best Regards

Ben Dutton



----- Original Message -----
From: <nickkearney@xtra.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, August 30, 2001 11:40 AM
Subject: Re: [sharechat] NZ sharemarket etc


> Ben
>
> Thanks for this.  Very interesting.  The internet is making possible
transactions in any market at the push of a button at any time of the day.
>
> We need some of these transactions to be on the NZSE but with a socialist
government is it any wonder the world is deserting us.
>
> IMHO Chalkie's headline should have read "Will the last person leaving New
Zealand turn out the lights".
>
> I wait with anticipation (or trepidation?)for RIL's comments.
>
> Cheers
>
> NK
>
> > From: "Ben Dutton" <bendutton@sharechat.co.nz>
> > Date: Thu, 30 Aug 2001 09:33:06 +1000
> > To: <sharechat@sharechat.co.nz>
> > Subject: [sharechat] NZ sharemarket etc
> >
> > Here's a link to a good article in the Independent, written by Chalkie -
one
> > of the few commentators in this country that doesn't mind stirring the
pot
> > if needs be:
> >
> > "Will the last broker leaving the NZ market please turn out the lights"
> >
> > http://www.theindependent.co.nz/chalkie.html
> >
> > Raises some interesting questions about the state of our sharemarket.
> >
> > Happy reading
> >
> > Ben Dutton
> >
> >
>
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