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Thanks for the info Arty

 

And for over a year I've already been able to place "Best" orders that will go outside the ASX and get me a better price - usually half-way between the usual ASX levels.

 

Are those centerpoint trades you're referring to ?

 

It's true that Chi-X is currently not displayed, but I've been told that will come with the next version of Pulse

 

Chi-X included would be ideal. There's also a mobile app they've been talking about for a while......

 

Do you find the broker reports useful at all ?

I'm guessing they could be useful to see whose buying/selling specs, although I guess the data isn't available until after T+2 ?

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Are those centerpoint trades you're referring to ?

yes; and ASX offers them now as well, I believe - at least for some stocks. Sometimes, my order is actually showing as a CXCX on the trades screen. I know it's mine because my account will appear as the buyer or seller side. Other times, I only see the executed trade on my order pad, where it's marked done or partially filled; in that case I know it's found a match "elsewhere".

 

Do you find the broker reports useful at all ?

I'm guessing they could be useful to see whose buying/selling specs, although I guess the data isn't available until after T+2 ?

absolutely! Even after 3 days, the information is still very valid to see where the buyers and sellers have been. Not so much maybe in cases of one-day wonders, but those are mainly "organised" by groups of day traders, and you only find out about those if you're sharing a live chatroom with them. Knowing which broker's clients bought or sold 3 days ago isn't much use in those cases.

 

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  • 1 month later...
Did you know that you get only one daily Contract Note with one Brokerage, regardless how many small bites you take when buying or selling a stock?

 

Just started trading with them and the aggregation for multiple trades same stock/same day didn't happen.

Seems its not automatic. One has to request it in writing, but I don't know what their criteria is for granting the request.

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Is anyone out there using Firefox? And do all brokers use variants of essentially the same IRESS application, which relies on Java?

 

I've used Firefox for years, but suddenly they've stopped supporting Java. To make things worse, Chrome doesn't support Java, and neither does MS Edge, the default browser for Windows 10.

 

Commsec have told me to use Internet Explorer, but I can't even get IRESS to work in that, and their tech support team seem unable to fix it, despite a number of phone calls and hook ups over the last few weeks.

 

Anyone else having issues like these with IRESS, and does anyone have any tips or suggestions?

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Yep, went through the same process with firefox/iress

However, unlike your experience, Commsec Iress is working ok for me using explorer/windows 10

So it will work, but don't ask me how.

There is a troubleshooting guide here

 

Also using my new Openmarkets account now so bye bye commsec once my free Iress with them expires.....

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Thanks for that Brierley.

 

I did manage to get it working on an old laptop, so I know it can work. But I'm darned if I can work out what's wrong with my main computer.

 

Besides this recent issue, I have no real complaints with commsec. I tried NABTrade for awhile, but the site was so full of gremlins I stopped using them after a single trade. I am therefore a bit nervous about trying any other broker.

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  • 1 month later...

I would suggest checking out Westpac Online trading. The platform seems to be identical to Comsec but in different colours. Cant say yet if IRESS works on it as I'm currently using a Adroid phone but I can say that having previously been a Macquarie Prime client but having to move due to Macquarie closing their Margin loans I found that BT Margin lending (owned by Westpac) the most competative in what they could offer. CBA rejected my application because I'm currently still traveling the world ( 5 years now) NAB offered me a credit limit of 1.1 Million at 5.8% variable rate and I signed up with BT because as a wholesale investor they approved a limit of 4.5 Million at 4.2%. LVRs on the blue chips at 75% which might be lower that NAB at 80% ion some blue chips.

The above may seem irrelevant when talking trading platforms but it is something to consider as the next step relating to the platform. Personally I view the market as high so I'm not drawing down on the loan until we have a crash but it's what I did during 2008 which enabled me to be classified a wholesale investor today. Good to have the ammo ready.

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Thanks for the reply crashtstdumy. It's always fun to hear what other people are doing.

 

Since making my OP I haven't found a fix for IE on my main box but I have started to use Firefox 52 ESR, the 32 bit version of which will continue to support Java until early 2018.

 

For anyone interested the download page is: https://www.mozilla.org/en-US/firefox/organizations/all/

 

 

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  • 3 months later...

Good description of Broker research/recommendations - and it's written by a Broker - Marcus Padley

 

Broker Research

 

Do I really have to explain this one. Most broker research is a cross between a marketing document and sucking up to the companies the research is written about, in the hope of a corporate relationship if one doesn't exist, or to service the existing relationship if it already does. The analysts arenÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢t stupid, the research is worth reading, they've done more work than you, they have better access, they know more, but understand that it is not independent advice. Also understand that by the time you read it, if it actually does have some insight, all the important clients have had it for the last week. You are there to ice the price not take advantage of it.

 

Broker research is tainted with corporate purpose and is rarely written with the singular motive to make the end reader money. Here is an extract from the Marcus Today Shorter Melbourne Dictionary of stockbroker recommendations, which just about sums it up.

 

BUY ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ ItÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s listed.

HOLD ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ ItÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s a SELL and weÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢re not about to ruin years of relationship building between the analyst and the company and the corporate department and the company.

SELL ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ We pitched for a role in the capital raising and another broker beat us. .

We are moving from BUY to HOLD ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ SELL

We are moving from HOLD to UNDERPERFORM - SELL

UNDERWEIGHT - SELL

Oversold ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ It's a terrible company but weÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢re the broker.

BUY (on a small company from a big broker) ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ We are about to do a capital raising.

Conviction BUY ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ Same as a BUY but weÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢re a small broker craving attention.

 

The bottom line is that the majority of broker research is tainted by some Machiavellian purpose and on that basis, it as a waste of time.

https://marcustoday.com.au/webpages/832_edu...cf&id=30827

 

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  • 3 months later...

DM! was formerly BER

 

BELL POTTER TO PAY $358K PENALTY FOR MANIPULATING THE MARKET

https://www.businessnewsaus.com.au/articles...the-market.html

 

Friday 1 December 2017

17-414MR ASIC bans Bell Potter Securities Ltd trader Damien Rodr from providing financial services

 

ASIC has banned Mr Damien Rodr, of Sydney, from providing financial services under s920A of the Corporations Act following an ASIC investigation into trading in the shares of DirectMoney Ltd ('DirectMoney'; ASX code: DM1).

Mr Rodr, a Designated Trading Representative (or 'DTR') for Bell Potter Securities Ltd ('Bell Potter'), has been banned for four years due to his involvement in trading in DM1 shares between 14 July 2015 and 23 July 2015.

 

Bell Potter had been the manager and underwriter to a capital raising, resulting in DirectMoney being admitted to the ASX on 13 July 2015. ASIC alleges that in the two weeks following the commencement of trading, Mr Rodr entered bids for DM1 shares, through Bell Potter's house account, with the dominant purpose of supporting the DM1 share price on the ASX.

 

ASIC's investigation found that Mr Rodr took part in transactions that had the effect of creating an artificial price for trading in DM1 shares, including transactions that increased and/or restored the ASX's closing price for DM1.

 

ASIC is further concerned that Mr Rodr is likely to contravene a financial services law, on the basis that his conduct involved multiple transactions during the relevant period, and that he has not addressed his conduct or accepted responsibility for it.

 

'ASIC will take action to ban people from providing financial services if they engage in conduct that undermines the integrity of our markets. This is particularly the case of gatekeepers entrusted with ensuring public confidence,' ASIC Commissioner Cathie Armour said.

https://www.asic.gov.au/about-asic/media-ce...ncial-services/

Mr Rodr has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.

 

ASIC's investigation into trading in the shares of DirectMoney is continuing.

 

Background

 

On 16 November 2017 Bell Potter paid a penalty of $358,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel ('the MDP'; refer: 17-387MR)

 

The infringement notice was issued by the MDP in relation to an alleged contravention of subsection 798H(1) of the Corporations Act, after the MDP found it had reasonable grounds to believe that Bell Potter had contravened Rule 5.7.1 and 5.11.1 of the ASIC Market Integrity Rules (ASX Market) 2010.

 

The infringement notice was issued for Bell Potter's alleged conduct in July 2015, for reasons including that it made bids for DM1 shares with the intention, and having the effect of, supporting the price of DM1 shares.

 

Bell Potter's compliance with the infringement notice is not an admission of guilt or liability, and Bell Potter is not taken to have contravened subsection 798H(1) of the Act.

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