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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Colombo Stock Brokers association pushing for Higher brokerage- What are your thoughts?

Colombo Stock Brokers association pushing for Higher brokerage- What are your thoughts?

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Erandar


Stock Trader
Brokers are losing money. That is understandable in this environment. We all have to make sacrifices. But they are not willing to take a salary cut NOR give up their Jaguars, BMWs and Audi's. Pushing for high brokerage- More commission is a selfish move by some desperate broker houses. Evil or Very Mad 

Proposed change will result the broker fee to be increased to 75 basis points from current 64.
They are also pushing the negotiable threshold to increase from 50 Mn to 75 Mn.
Also the minimum floor to 40 basis points from 20 basis points.

The proposals are approved by Colombo stock brokers association and submitted to SEC. With the connections they have, SEC will have a hard time saying NO to these proposals.

Our investors are already having a hard time with current market situation. And when markets are just about to recover, we might have to pay higher fees. Imagine the damage this will do to market Liquidity.

What are your thoughts? Is there anything we can do?

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
Higher brokerage will worsen the situation: trading volumes will reduce and brokers will lose more money!

The solution would be to reduce brokerage fees to (say) 0.25%. With lower brokerage, trading is more profitable; traders will participate more enthusiastically. The increased volumes will more than offset the reduced brokerage percentage.

bullrun

bullrun
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Brokers + SEC Don't try to kill the hen which is going to lay golden eggs.

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@bullrun wrote:Brokers + SEC Don't try to kill the hen which is going to lay golden eggs.
Rather they should think of boosting the transactions and increase their share than killing the Bird.
Two options open to them;
1 - Reduce the fee,
2 - Extend the Day Trade facility/charges for Three Days.
Traders will participate more even in present market conditions, if one or both suggestions are accepted.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Erandar Welcome .

Firstly, where did you find this information?

Secondly if this is true, there guys are nuts and too greedy. They need to understand that increasing fees will make things worse. They have a choice of increasing volume vs increasing fees.

It is stupid to think short term and choose the latter to kill the mine that can give them gold.

Even now the fee are too much. Infact they need to think about reducing them and figuring out ways to increase trading.

Jeevana


Stock Trader

Low brokerage fees are just the icing on the value cake. But......................

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
why should we suffer for their poor business model, have they tried to expand the retail investors or foreign investors.? They ask SEC for money to attend foreign road shows and to pay for their branch offices. So because they play out investors and the suckers are no longer in the market they can't make money. And now we have to pay for their inefficiency and lethargy? Besides what happened to all the money they made after the the bull run? wine ,women and song?

If they can't make money they should sell or close down. Then the efficient will be left behind. That is the market for you. Capital markets is not a short term business not for investors not for stock brokers

somasiri


Stock Trader
Dear all,
please look at the situation from the brokers end as well, most of the brokering firms are struggling to pay the salaries to their employees, so what they can do is terminate the service of 2000 employees, that's not fair in this time. According to my knowledge only the CEO drives luxurious vehicle, all others using the public transport and people who are going to lose jobs are not CEO's..... think about it

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Hello , Etradar, Jeevana and Somasiri.

Some of you guys seems to be appearing under different accounts. Please let the forum know what the real message you want to give without these multi account games?

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
GAHEN WETUNU MINISUNNTA  GONNU ANINNA HADANAWADA?

samcader


Manager - Equity Analytics
Manager - Equity Analytics
The trading  price  band  should be  increased  to 25cts from the existing  10cts  for  shares priced  above Rs 10/-  this  was  the practice  a  few years ago.

Universalgoal


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
if it happens i will withdrew my money then sorry for brokers Razz Razz 

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@somasiri wrote:Dear all,
please look at the situation from the brokers end as well, most of the brokering firms are struggling to pay the salaries to their employees, so what they can do is terminate the  service of 2000 employees, that's not fair in this time. According to my knowledge only the CEO drives luxurious vehicle, all others using the public transport and people who are going to lose jobs are not CEO's..... think about it
There are enough brokers who are making profit.

Only the CEO drives luxurious vehicle, all others using the public transport? I know some of the brokers who are using luxury vehicle.

Also friend at some of the broker places some of the persons are there as managers, just check about their knowledge and experience.

funland


Equity Analytic
Equity Analytic
Deleted...



Last edited by funland on Tue Oct 08, 2013 9:35 pm; edited 1 time in total

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Funland, will the brokers agree to share the burden, if the investor sells at loss?

funland


Equity Analytic
Equity Analytic
Deleted...



Last edited by funland on Tue Oct 08, 2013 9:37 pm; edited 1 time in total

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@funland wrote:
@Gaja wrote:Funland, will the brokers agree to share the burden, if the investor sells at loss?
Though you have a valid point, I think, it is not correct to expect the brokers to bear the burden. We pay commission for their service.

I buy a laptop that dies in couple of years (beyond the warranty period), can I expect the seller to give a new laptop. Do you think it is reasonable?

Having said this, you can cut down the commission that you pay to your broker when you are at a loss  

Issue is this, brokers earned well above the normal commission, during the last boom, and they attracted more and more traders so the commissions went up, so they changed their life style, now to keep their life style, they try to gain all methods, but its failed.

As you said u never uses the brokers service, am also not using that, so why should i pay for it, why can't CSE & SEC get the system developers to issue the access for the people who are willing to use ONLINE, for a FIXED CHARGE PER YEAR?


If the brokers can recruit proper people, and if they can provide valuable services then i don't see any negatives on increase in commissions, how many over priced IPO's encouraged by the Brokers in the last two to three years?

funland


Equity Analytic
Equity Analytic
Deleted...



Last edited by funland on Tue Oct 08, 2013 9:36 pm; edited 1 time in total

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
1. Information without a source could be just imaginary.
2. Increase brokerage for what service?
3. Actually there should be an option to directly trade without brokerage. This is available in some countries.

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@slstock wrote:Hello ,  Etradar, Jeevana and Somasiri.

Some of you guys seems to be appearing under different accounts.    Please let the forum know what the real message you want to give without these multi account games?
Mercs, Audis, Jags etc etc.....
There’s a simple fact in private sector jobs.
If you are not happy with your job then it’s your task to find a better job.  
Plus it’s hard to find a perfect job especially when you are in lower levels.

So u have to live with all the negative facts if you are not looking for something else.

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