Jantar
07-04-2015, 05:49 PM
Yes, I know it can be done, but why would anyone do that?
I noticed today a lot of very small transactions in HNZ. Three transactions involving a single share and 10 or more transactions of less than 20 shares. With the cheapest brokers charging a miniumum of $30 per trade why would anyone sell a single share for $1.30 or less? Either they are paying $28.70 to give away a single share, or there is a broker out there somewhere who charges on a simple percentage basis with no minimum fee.
Similarly, why would anyone buy a single share? They would be paying $31.30 for a share worth $1.30. Or again, is there a broker who is cheaper than the cheapest listed?
Doesn't the NZX also charge a minimum fee for all on market trades?
I noticed today a lot of very small transactions in HNZ. Three transactions involving a single share and 10 or more transactions of less than 20 shares. With the cheapest brokers charging a miniumum of $30 per trade why would anyone sell a single share for $1.30 or less? Either they are paying $28.70 to give away a single share, or there is a broker out there somewhere who charges on a simple percentage basis with no minimum fee.
Similarly, why would anyone buy a single share? They would be paying $31.30 for a share worth $1.30. Or again, is there a broker who is cheaper than the cheapest listed?
Doesn't the NZX also charge a minimum fee for all on market trades?