Automated Trading on the Nairobi Stock Exchange
Is it true that the new trading system only deals in lots of 100 shares.Hence, trading of shares in lots like 235,105 is difficult and expensive.
But in multiples of 100 easy.e.g. 2000,5000....etc
Anybody out there who can tell me more?
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7 comments:
true. i had 142 bbk shares. whn i gave a sale order, only 100 were sold., after almost 6 weeks, the broker told me he cantr sell!!
So damn true.
I sold two separate odd lots and in both cases they sold in hundreds. very wierd. I wonder what am suppossed to do with the remaining 12 shares in kengen.
@gathinga: I know how it feels.Apparently, brokers warned guys with large A/c's to 'clean them up' before ATS began
@Riba:Same here , i also have a similar problem.
Am stuck with 2 shares of EABL!
The CMA & NSE do not allow firms to do "housekeeping" which would solve this problem!
EABL would offer all shareholders with less than 100 shares a "market price" and buy them back thus eliminating (thus the term housekeeping) multiple accounts.
EABL benefits by reducing the costs of the register (maintenance, Annual Reports, Dividend cheques) while investors can be out entirely.
Instead the CMA & NSE are only interested in their own profits without considering the needs of the Investors & Listed Firms...
No COMPETITION...
my broker has now sold the balance bbk shares. i guess one can still trade in odd lots
@Bankelele:U could assign the 2 shares to your brokers' nominee accounts to avoid getting a dividend cheque of Ksh 10.35 or something
@ColdTusker: Remember when KQ was denied permission to carry out a share buyback?
@xtra-cash: Odd lots are allowed but on a different board or system(unsure).either way they are difficult to trade.
@Gathinga: What was the Commission? I hear it's higher than usual for such trades.
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