Forum Archive Index - March 2004

["Baa Baa" <baa_baa@hotmail.com>]

Andy,

I've used ASB Securities for some time now. Basically I think it helps to 
view their internet service as a 'buy/sell memo' to the dealers who forward 
to the market makers to execute for you. There is no electronic transaction 
per se. The ABS Securities internet system is primitive in the sense of an 
Ameritrade, E-Trade, OptionXpress etc, but, it is an alternative, and is 
convenient and cheaper for placing orders than dealing direct with an ASB 
broker.

Another example to illustrate is that placing a buy/sell on an illiquid 
stock, or at a price substantially outside the bid/ask (for example a stop 
loss) may not even be placed, or it may be placed but be cancelled by them 
after a day. There's all sorts of little twists and turns in the fine print.

It really does pay to approach ASB Securities as about the same as emailing 
your broker. Don't for heavens sake confuse it with an online realtime 
e-transactions system directly 'in' the market. It's not.

For all that, I find it convenient enough for infrequent trades, but, like 
Allan Julian says, keep that 0800 number handy because you'll need it

Best of luck.
BAA

_________________________________________________________________
Check out the Xtra gaming servers @  http://xtramsn.co.nz/gaming


----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/