Forum Archive Index - March 2004

["kmthor" <kmthor@xtra.co.nz>]

baa baa
 so does this mean that you can not turn over a stock on the same day or
next day, not being real time


keith
----- Original Message -----
From: "Baa Baa" <baa_baa@hotmail.com>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, March 03, 2004 7:39 PM
Subject: [sharechat] Selling shares online


> 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
>
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>
>
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