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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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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


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.

hunter

hunter
Moderator
Moderator
@gamaya wrote: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.
By-passing brokers and paying a fixed annual commission are interesting ideas.
Can you mention few places in the world this is available?
I like to study more. Probably, we should suggest these to SEC.

stumpy

stumpy
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@hunter wrote:
@gamaya wrote: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.
By-passing brokers and paying a fixed annual commission are interesting ideas.
Can you mention few places in the world this is available?
I like to study more. Probably, we should suggest these to SEC.
It's happening in most of the countries. Sometimes we can choose the plan we want according to our preferences and trading volumes.

There's a Flat Fee based model per transaction.
10 USD per transaction etc.
Flat fee based model is a super saver when you trade very high volumes! Smile

1. https://www.interactivebrokers.com.hk/en/index.php?f=1590
2. http://www.schwab.com/public/schwab/investing/pricing_services/fees_minimums
3. https://us.etrade.com/investing-trading/pricing-rates?ploc=it-nav

Pros:
Trading activity will increase a lot!

Cons:
SL Brokers won't like this kind'a structure at all! (Another reason for me to hate them! Razz )

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Meh.. Our broker charges are already high for emerging markets..
I think the topic was started by a lame broker himself Twisted Evil 

hunter

hunter
Moderator
Moderator
@smallville wrote:Meh.. Our broker charges are already high for emerging markets..
I think the topic was started by a lame broker himself Twisted Evil 
Well, I didn't want to hurt anyone by saying whoever started this was having a problem of his commission and was suggesting to higher management his proposal. (I am sorry mate, either case if I am right or wrong).

But, in my view, it's good to discuss because at least they can consider some better ideas suggested here.

Thanks Stumpy!
Any idea about the options available for us to start accounts from here (Sri Lanka), with a minimum 'risk' capital?

BTW: after a long time neh? Wink 

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
This shows how people think about Brokers

Some postings are delegated

Like govt authorities Brokers also do not play their role properly

Most of brokers are jokers

This another problem in SL Stock market



Last edited by D.G.Dayaratne on Wed Oct 09, 2013 11:11 am; edited 1 time in total (Reason for editing : to explain more)

hunter

hunter
Moderator
Moderator
In my view, all what a broker need are three things.

1. A good server - to facilitate trading for customers (online)
2. A system admin - to look after the server and **
3. A dog - (Chase away the system admin if he comes near the server)

PS:
** - Feed the dog.

So why do they need such a commission?

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
My recommendation to SEC/CSE regarding this is,
They should be allowed them to decide the broker charges(%), It will be varying from one broker to other depending on their service.
It should not be decided by the SEC/CSE and let it to fly.
Adequate time shuld be given to investors to withdraw or transfer the shares in their account with current brokerage after displaying their new broker charges(%).
SEC/CSE must be established new firm/separate section to handle the trading directly with investor those who don't want to trade with brokers. They should charged maintenance cost for online facility+CSE/SEC charged.

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Good proposal by SL market

hunter

hunter
Moderator
Moderator
@D.G.Dayaratne wrote:Good proposal by SL market
Yes. that should be the way.
Better to enforce a minimum and maximum limit as well; like TRC did for mobile phone call rates.

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
@hunter wrote:
@D.G.Dayaratne wrote:Good proposal by SL market
Yes. that should be the way.
Better to enforce a minimum and maximum limit as well; like TRC did for mobile phone call rates.
This is the way of hitting back to the brokers logically if they want to increase current brokerage. Implementing my proposal We can benefit much and also be happy thinking not paying any cents to those useless brokers.

hunter

hunter
Moderator
Moderator
@SL.Market wrote:
@hunter wrote:
@D.G.Dayaratne wrote:Good proposal by SL market
Yes. that should be the way.
Better to enforce a minimum and maximum limit as well; like TRC did for mobile phone call rates.
This is the way of hitting back to the brokers logically if they want to increase current brokerage. Implementing my proposal We can benefit much and also be happy thinking not paying any cents to those useless brokers.
The very top of SEC have had enough exposure to similar cases in other fields. Can't understand why they haven't thought about it yet.
Either they have no interests in the market or they have other interests.

ananda95


Equity Analytic
Equity Analytic
CSE needs to bring in direct on-line trading platform where investors can bypass brokers. Don't think most of the investors listen to brokers/ get their advice.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Brokers :

Looking at the consensus here ,  most members feel the that many Brokers are no help ,  do not have the capacity to advice and members feel the need for independent online trading facility  by CDS sans going through a broker.  We already feel the fee we pay to broker is too high. You talk about even increasing it further.

I also suggest you increase you "research" depts to provide better analysis and support to clients.   Much more is expected by clients for the fee they pay. Right now we don't understand why we have to pay a fee even to brokers when we  hardly use them or get support from them.

Also some of the suggestions here (including  SL Market's) maybe taken.

If your service is valued by clients they will agree to pay higher rate determined by demand.  But is that happening? After looking at general comments in this forum for  years,  I can say most clients feel Broker services are redundant . Some of us  have lost faith in them.

You are asking about increased broker fees now.  I think it might better to look into issues clients are having and improving to give a  better service  before you start talking about more fees.

Don;t kill your your hen that lays golden eggs ( as someone said) . The hen is your clients.

Unhappy clients -> less trading /less clients -> less revenue -> lesser profit. Increasing profits margins/fees will reduce clients trading or make them move to a better Broker. Then what will happen to you?

Think longer term if you want to survive . Think way to increase participation than increasing fees.



Last edited by slstock on Thu Oct 10, 2013 7:42 am; edited 1 time in total (Reason for editing : added info)

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
slsstock is 100% correct

Investors need only a mechanism to settle payment

At present brokers do only that role at higher price

Erandar


Stock Trader
@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?
Okay here you go. I didn't want to post again unless the news is public.
http://www.dailymirror.lk/mirror-stock-watch-live/36862-stockbrokers-write-to-cse-requesting-brokerage-fee-hike-.html

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@Erandar wrote:
@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?
Okay here you go. I didn't want to post again unless the news is public.
http://www.dailymirror.lk/mirror-stock-watch-live/36862-stockbrokers-write-to-cse-requesting-brokerage-fee-hike-.html
So after participating last monday meeting at SEC, you leaked the news in this forum. WEll done mate.

hunter

hunter
Moderator
Moderator
@Erandar wrote:
@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?
Okay here you go. I didn't want to post again unless the news is public.
http://www.dailymirror.lk/mirror-stock-watch-live/36862-stockbrokers-write-to-cse-requesting-brokerage-fee-hike-.html
Good Work!

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@hunter wrote:
@D.G.Dayaratne wrote:Good proposal by SL market
Yes. that should be the way.
Better to enforce a minimum and maximum limit as well; like TRC did for mobile phone call rates.
Will SEC/CDS like a propsal such as SL.Market's?

Say that they have only .6% as their fees, they get it regardless of the broker now. If broker has less volume and another broker has a better vol, they still get their portion with the amendments. But brokers will lose clients and CSD will have to deal with many client accounts being inter-changed due to this brokerage crisis.
Some may start charging 1.18%, some 1.25%, some others just mere 1.15% so will be a lot of work for them.

Actually this brokerage should be charged fully for the ppl who get the assistance of an advisor, for others who use DFN, ATRAD or any other trading software and deal on their own, the broker charges should be cut to half, I say. Here only the individual himself waste his time and knowledge not a broker.. Broker only provides a frontend to his client to access the trading platform for his own work. So actually has no advisor intervision.

In addition, brokers earn whether the client earn or lose, that's again not fair. Everyone's expectation is to earn not to lose. What if the client lose cuz of a broker's bad call? still broker earns if he sells to cut losses.

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Someone know how much each broker firms are paying for DFN, ATRAD or other platforms? I don't think they are getting for FOC.

Sylvester1234


Senior Equity Analytic
Senior Equity Analytic
@hunter wrote:
@SL.Market wrote:
@hunter wrote:
@D.G.Dayaratne wrote:Good proposal by SL market
Yes. that should be the way.
Better to enforce a minimum and maximum limit as well; like TRC did for mobile phone call rates.
This is the way of hitting back to the brokers logically if they want to increase current brokerage. Implementing my proposal We can benefit much and also be happy thinking not paying any cents to those useless brokers.
The very top of SEC have had enough exposure to similar cases in other fields. Can't understand why they haven't thought about it yet.
Either they have no interests in the market or they have other interests.

According to daily mirror article brokers have got around the CSE board who has already agreed for a higher fee. CSE board has then sought final approval from SEC.  The SEC commission is yet to decide whether they agree or not. Reading the article which had also quoted SEC bosses I get the feeling that CSE board has jumped the gun without consulting SEC  and now SEC is dodging the issue through delay tactics. Most probably SEC is not happy about this formal request of CSE and brokers. Recent experience show that SEC likes to consult CSE and Industry first before making any formal announcements.( A major deviation from the past practice)   It will be tough call for SEC now as CSE board has already agreed to the request of borker association.

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