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RE: [sharechat] Selling shares online

From:	"andy liang" <andymanl@hotmail.com>
Date:	Wed, 03 Mar 2004 10:27:37 +0000

Baa, thank you so much for your detailed explanation. It was very helpful.

Andy

>From: "Baa Baa"

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>Subject: [sharechat] Selling shares online

>Date: Wed, 03 Mar 2004 06:39:45 +0000

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>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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