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General Category => Off topic => Topic started by: Hamster on February 17, 2016, 01:46:54 pm

Title: ABSA Stockbrokers
Post by: Hamster on February 17, 2016, 01:46:54 pm

So my accounts are open, just waiting for my other STANLIB accounts etc. to be closed and get the money transferred  :)

My question is with regards to the trading screen (I've only got real experience with buying and selling on EasyEquities so bare with me). On the screen I've got the option to buy with the following options:

Number of Shares
Order Type (always set to Limit Order)
Limit Price (cps)
Expiry Date

So am I correct in assuming that it is asking me to place an offer to purchase x amount of shares for x amount of money (cost per share) and that the offer is valid till x date? When the criteria is matched the order will execute else nothing will happen?

Title: Re: ABSA Stockbrokers
Post by: marguerittereed on February 17, 2016, 02:04:13 pm

Yes, you are correct!!

Title: Re: ABSA Stockbrokers
Post by: Hamster on February 17, 2016, 02:14:01 pm

Schweet

Title: Re: ABSA Stockbrokers
Post by: gcr on February 17, 2016, 03:06:43 pm

Quote from: Hamster on February 17, 2016, 01:46:54 pm

So my accounts are open, just waiting for my other STANLIB accounts etc. to be closed and get the money transferred  :)

My question is with regards to the trading screen (I've only got real experience with buying and selling on EasyEquities so bare with me). On the screen I've got the option to buy with the following options:

Number of Shares
Order Type (always set to Limit Order)
Limit Price (cps)
Expiry Date

So am I correct in assuming that it is asking me to place an offer to purchase x amount of shares for x amount of money (cost per share) and that the offer is valid till x date? When the criteria is matched the order will execute else nothing will happen?

I don't know if their platform is purely robotic or whether they have human beings monitoring client orders, the reason I ask is that my brokers occasionally intervene in the market when the auction is in place. My brokers sold a small parcel of Massmart for me at some 57 cents more than my sell order was for.
May just want to establish whether they do trade on behalf of their clients in the auction

Title: Re: ABSA Stockbrokers
Post by: Hamster on February 17, 2016, 03:10:53 pm

Quote from: gcr on February 17, 2016, 03:06:43 pm

Quote from: Hamster on February 17, 2016, 01:46:54 pm

So my accounts are open, just waiting for my other STANLIB accounts etc. to be closed and get the money transferred  :)

My question is with regards to the trading screen (I've only got real experience with buying and selling on EasyEquities so bare with me). On the screen I've got the option to buy with the following options:

Number of Shares
Order Type (always set to Limit Order)
Limit Price (cps)
Expiry Date

So am I correct in assuming that it is asking me to place an offer to purchase x amount of shares for x amount of money (cost per share) and that the offer is valid till x date? When the criteria is matched the order will execute else nothing will happen?

I don't know if their platform is purely robotic or whether they have human beings monitoring client orders, the reason I ask is that my brokers occasionally intervene in the market when the auction is in place. My brokers sold a small parcel of Massmart for me at some 57 cents more than my sell order was for.
May just want to establish whether they do trade on behalf of their clients in the auction

I'll do that but I'm not a trader so it's not the most important thing for me to worry about. Having the system wait and watch for my proffered buying price though...  :TU: