Hi, Garry.

GN>  FM> And all this is going out the window, soon. I think at the end of this
GN>  FM> month. No more marketable parcels, no more odd lots, no more Odd Lot
GN>  FM> Broker.

GN>  FM> Another change which will occur at the same time is the step size for
GN>  FM> orders. It will be 0.5 cents up to 25c (currently 10 cents), 1 cent
GN>  FM> above that forever (currently 2 cents over $10).

GN>  That's interesting, thanks.

Well the first (no odd lots) has in fact come in on October 1; you see
some strange trades going through (strange to those of us used to the
old rules). Today I saw 1 (yes, one) BHP, followed by 35.

Not sure if the other one has been implemented, I certainly haven't seen
any evidence but maybe everyone's just used to the old regime. I must
put in a bid for BHP at 1799 tomorrow, see if it's accepted.

GN>  FM> But also check the service you're going to get. Do you have to front
GN>  FM> up with the $ (buying) or certificates (selling) before they'll let
GN> you
GN>  FM> trade? Can you put on an order at say $5.40 with a couple of cents
GN>  FM> discretion if it looks like the market is moving away from you? Do you
GN>  FM> want research, or even opinions on the stocks you're going to trade?
GN>  FM> Will you get access to new floats? eg Giltnet which we were doing at
GN>  FM> 10 cents, listed last Monday, now 28 cents. Lehir coming up, but
GN>  FM> *they're* as scarce as rocking horse shit.

GN>  Very true, it pays to find a brokerage house with these facilities.

I guess it's horses for courses. If you're a professional investor, do
your own research, know what you want, not interested in floats, don't
need any of the other services, then you may be better off with a
'discount' broker. But many want at least some of the rest.

GN>  FM> Shouldn't happen at a decent place. I have 2 phones plus my mobile,
GN>  FM> there are 14 more on my desk if I happen to be on both.

GN>  It did in October 1987, I was present in one of the biggest dealing rooms
GN>  on THAT day and watched things from the other side of the fence.  I
GN>  believe the what were considered then as small and unimportant
GN>  investors, had a snowflakes chance in hell of getting through on any
GN>  phone and giving a "sell" order.  Were you in a dealing
room that week?

Yes, I guess that could well have happened that day. I was actually at
university doing an MBA, on that day, listening to a lecture on how
efficient the markets were! ROFL!

GN>  FM> I believe Pont Securities offers such a service, don't know the
GN>  FM> details/conditions/limitations though.

GN>  I still like to talk to brokers on the phone.  As with all audio
GN>  conversations, much can be gained from a person's tone and inflection.
GN>  So when I am asking questions I am recieving instant feedback.

And so do most clients. Some go further, want to meet their advisor
in person before they do any trading. A potential client of mine with
*significant* bucks to invest is personally interviewing advisors from 4
broking firms before deciding whom to use. I hope I'm the one he'll
select. :-)

And at the other end, some clients (I have 2) are quite happy to give me
instructions electronically. Of course I'd like to have a voice contact
number (in fact I must) in case anything urgent needs to be discussed,
as indeed happened today with one of those guys.

GN>  I'll have to speak to the SHAW company, won't I Frank?

Would be a pleasure to talk to you, Garry. (02) 238-1360 or 1361 are my
direct numbers; (02) 238-1238 switch; (018) 411-767 mobile. Or even,
(02) 810-8202 home.

Regards, FIM.

 * * Aren't spill chukkers grate?
@EOT:

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