# Broker Codes are no more



## tarnor (28 November 2005)

No more broker codes...  How does everyone feel about these changes?  Might be worth having a poll.. in one sense it evens the playing field for retail investors as now we aren't disadvantaged by not having access to the codes.  Although I would have prefered they went the other way around and provided us with the codes... any thoughts?



> Brokers don masks of anonymity
> 
> By Kevin Andrusiak
> 28nov05
> ...




http://www.theadvertiser.news.com.au/common/story_page/0,5936,17383358%5E462,00.html


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## markrmau (28 November 2005)

*Re: Broker Codes are no more..*

AFR also said closing match is now moved to 4.15. Is this correct?

I think this may not be so good for the smaller players. Everyone in the industry knows each other, and I think the major brokers will band together and have an informal network where they keep each other informed.

Any dicking around with the market won't get picked up by smaller brokers. 

However, it is standard practise around the world to have completely anonymous markets.


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## sails (28 November 2005)

*Re: Broker Codes are no more..*



			
				tarnor said:
			
		

> No more broker codes...  How does everyone feel about these changes? Might be worth having a poll.. in one sense it evens the playing field for retail investors as now we aren't disadvantaged by not having access to the codes.  Although I would have prefered they went the other way around and provided us with the codes... any thoughts?



The ASX did a similar thing a few months ago when they removed the 2nd level of market depth from the options market and they used a similar excuse that West Australia didn't have access to the 2nd level, so now we all had to lose it - a backward step IMO     It used to make it a lot easier to see where the market makers were positioned vs other retail traders and now all orders at each price level are lumped in together.  One is only left to wonder if the ASX gave into pressure from market makers  - just my thoughts!

Anyway, here are a couple of links to the recent changes re broker identification:  http://www.asx.com.au/about/media/market_structural_reforms.htm
http://www.morrisonsecurities.com/pdfs/New Trading Hours.pdf


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## RichKid (6 December 2005)

*Re: Broker Codes are no more..*

An artcle on the changes, a bit more detail than usual: http://www.smh.com.au/news/business/few-hiccups-for-asxs-new-system/2005/12/05/1133631200618.html


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## johnno261 (6 December 2005)

*Re: Broker Codes are no more..Bulltish!!!!*



			
				RichKid said:
			
		

> An artcle on the changes, a bit more detail than usual: http://www.smh.com.au/news/business/few-hiccups-for-asxs-new-system/2005/12/05/1133631200618.html




Brokers are using their own codes still and thats a fact!!!!!!! For example if Shaws broker code was 221 and Shaws are buying a big whack of HDR's for example they will buy parcels of shares ending in 221, for example 81,221!!


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## tarnor (6 December 2005)

*Re: Broker Codes are no more..*

Interesting i'm sure they don't use thier code number when they don't want people to not know who it is!

more games...

I'm completely over the 15m of pain for the afternoon matchout,  orders only get changed in the last few seconds anyway


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