Easy Equities suspended trading

This what they said on twitter, no idea what it means

EasyEquities ‏@EasyEquities 5m5 minutes ago
@Mergz_Naidoo It keeps going into action in the market which means no pricing pulling through. We have suspended it to protect our clients.
Click to expand...
 
Last edited:
I also lodged a complain about this and am getting the run around. Absolute rubbish.

Some folks I know bought over a R1000 worth a shares a week ago, they were on R11k at one stage today and could not cash out! I wanted to halve mine, not big money but was going to re-invest with the drop ( R1.20 to 60c ).
 
Kosmik said:
I also lodged a complain about this and am getting the run around. Absolute rubbish.

Some folks I know bought over a R1000 worth a shares a week ago, they were on R11k at one stage today and could not cash out! I wanted to halve mine, not big money but was going to re-invest with the drop ( R1.20 to 60c ).
Click to expand...
Wanted to do the same. Sell at R1.10 and then buy again at around 50c
 
JStrike said:
haha never even heard of them
Click to expand...
When my dad worked there they made soap and cosmetics for pick n pay, woolworths etc. No idea what they do now cause that is what my dad still does for a living.
 
To be fair, the platform is meant more for investing than trading.
 
xumwun said:
To be fair, the platform is meant more for investing than trading.
Click to expand...

Doesn't give them the right to put a share on hold as they see fit in order to protect their own interests. That is why there's a 15 minute delay on share prices...
 
Hi Ladies and Gents,

I’ve just come back from a discussion with our risk department and the short answer is that we did force a suspension in trading on the platform today, but this was done to ensure we managed a potential risk to our clients.

As you're all aware, EasyEquities is not an online trading platform and does not offer live pricing, but offers 15 minute delayed pricing instead.

Today there was extraordinary execution risk where Lonmin was concerned because:
1. The market (JSE) was suspending trade in that instrument intermittently throughout the day. During those suspensions you would not have been able to trade in the share anywhere
2. There were also massive price fluctuations that could have created big differences between the prices clients expected to execute the trade at (as they would have been seeing 15 minute delayed prices on our platform) and the actual price of the execution.

Due to these factors the only way we could reduce this risk to clients was to suspend trading on Lonmin on the platform and guide clients to our broking desk (which we did via a clear message on the page).

This way, our trading desk could advise clients on live pricing and execute the trade for them to avoid the risk of large disparities between the prices clients were expecting and what they may have received when receiving the trade confirmation, had execution been available on the platform.

Best regards
Justin
 
It also means you lost out on taking advantage of the guy that was buying Lonmin for R500 :)
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X