Forum Archive Index - July 2002

["Sethi, Vijay" <v.sethi@auckland.ac.nz>]

Hi All

 

When I subscribed to Findata for Metastock data, I was told that a) 20-minute delayed data is available from the web-site for downloading but the official-certified ASX end-of-day (EOD) is e-mailed to its subscribers at approx 10:20 pm (NZ time) each night on receipt from ASX. 

 

This data for yesterday (23 July 02) is not accurate on at least 2 stock - NCM and NCP - I am not sure on other stocks.

 

I called Findata to find out why my ASX end-of-day data is inaccurate. I was told that this is not their fault because ASX did not send out an official end-of-day file its sends to all data providers. If find this explanation highly unusual as I would not expect a reputable exchange like ASX to default on its obligations to provide accruate EOD data to data providers like Findata - unless there is major techological fault - in which case I would assume that it would rather not send out data than send out inaccurate data. This goes to the heart of an exchanges integrity as tens of thousands of traders make trading decisions on the basis of this data.

 

I may be wrong. I am new to this - therefore few points I need to understand are:

 

a) does ASX really sends out its official ASX EOD file to all data providers,

b) if yes, is it possible that every once in a while, it would not ( like yesterday) causing traders / investors to make wrong trading decisions,

c) if not, is Findata lying to me - is this customary (I'm new to this!!),

d) if not, if I can provide third party evidence that this inaccurate data has caused me financial loss - do I have any recourse with the data provider (Findata) to make good my loss. I realise that I may not have any recource with ASX directly as the contract to provide EOD data is between ASX and data provider (in this case Findata).

 

I would appreciate if any body would share their understanding of all or any of the above with me.

 

Kind regards

Vijay

 

PS I have received another e-mail from Findata with ASX EOD data for yesterday at 2:16pm - more that 2 hours into today's trading!

-----Original Message-----
From: G Stolwyk [mailto:stolwyk@wave.co.nz]
Sent: Wednesday, 24 July 2002 12:31 p.m.
To: sharechat.co.nz
Subject: [sharechat] Site for Download Files

Kevin,

 

Thanks again for your gracious gesture in making this site available to this Forum:

 

http://homepages.paradise.net.nz/kwbarcla/shares/forum.htm

 

Gerry