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Commsec Down

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Re: Comsec Down! ARGHGH!

Sdajii said:
Comsec seems to have been knocked out by the storm, I can't access any company prices, data, etc! Not for about five minutes now![/Q



What's happening today everybody, first E-trade, now Commsec
????????????
Click to expand...
 
Anyone else having problems with comsec... I cant put in buy or sell orders... states : Will process when market re-opens..
Just rang them and they said they have problems cant help me, cant process trade on the phone, cant tell me when it wil be resolved..

Not sure what to do now ????
 

Yes. I am encountering the same thing.
 
apparently commsec is not alone;
from what I hear, an ASX gateway crashed about half an hour ago, dropping Commsec, webIRESS, Pulse off supply.
We can only hope it's being attended to with urgency.
 
pixel said:
apparently commsec is not alone;
from what I hear, an ASX gateway crashed about half an hour ago, dropping Commsec, webIRESS, Pulse off supply.
We can only hope it's being attended to with urgency.
Click to expand...

I am down about $4k on a sell order I tried to put through this morning which should have been processed ... ????
I still cant get it sold and the price is still going down....
this is proving to be very upsetting !
 
pixel said:
apparently commsec is not alone;
from what I hear, an ASX gateway crashed about half an hour ago, dropping Commsec, webIRESS, Pulse off supply.
We can only hope it's being attended to with urgency.
Click to expand...

WebIress has been good all morning for me, no dropouts ?

Sorry, should have clarified, not via Comsec though.
 
I called them, they are aware there is a problem and are working on it, annoying as I have two orders in an neither will process.
 
adobee said:
I am down about $4k on a sell order I tried to put through this morning which should have been processed ... ????
I still cant get it sold and the price is still going down....
this is proving to be very upsetting !
Click to expand...

Might have to ring them if you're really keen mate.
 
BrightGreenGlow said:
Might have to ring them if you're really keen mate.
Click to expand...

Ive rung them twice and been told nothiing they can do.. they said they can just cancel all my orders which havent been processed if i want..
I said no I want you to process my order ..

At the moment I cant buy or sell.. if market turns bad I will cop it .. aside from cba will probably still charge brokerage once they manage to process the orders..

Apparently is asx problem..

still its not good enough ..
 
looks like problems may have just been resolved...

have to look into a back up
if there is another GFC no way would any small comsec users get there orders through ..
 
adobee said:
looks like problems may have just been resolved...

have to look into a back up
if there is another GFC no way would any small comsec users get there orders through ..
Click to expand...

Is there a way to have a backup?
I tried to phone through the order when it didn't execute in Iress, but got the same result as you - no can do.
If Commsec is the Chess sponsor - how can we execute through a backup provider?

I have another account with Westpac and its orders were going through fine when I couldn't execute through Commsec. But in each case they sponsor a different parcel of shares.

If a backup can be setup, that would be great.

Edit - I think my Commsec orders are still not executing.
 
Commsec still cann't amend or cancel my orders. waiting for hours now. it's terrible!
is it happening to someone here too?
 
I amended an order just to check. Comsec still working here at 3.02pm
 

One way would be to have a CFD account with a different broker. (The SFE used to have share futures, but not sure if they still exist.) Then short sell the same number of CFDs to fully hedge your shares and that would technically neutralise the position and prevent any further losses. Close out both when everything is back to normal and slippage is minimal. There would still be additional expenses due to slippage and brokerage on double handling, but it could help offset major losses.

Also, one would have to have sufficient cash in the CFD account in the event of selling on a low and price suddenly bouncing back up. Although the value of shares would be increasing, the CFD account would be moving into a loss at the same/similar rate.

Options could also be used, but to hedge long shares, it would require the purchase of deep in-the-money puts with a delta close to 1 to be useful. IMO, there would be way too much slippage to do it this way especially if a fast move was already happening.
 
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