Australian (ASX) Stock Market Forum

Unable to place sell order via Commsec?

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Hi guys,

I purchased some stock on 9th June through commsec the shares settled on 12th June and the cost has been deducted from my account.

The price of the stock has risen and i'm looking to sell off a portion of my holdings. The problem is when I place a sell order it is denied, the reason being "insufficient chess holdings". I checked my chess sponsored holdings through the commsec website and the stock isn't included?

Other shares I purchased on 9th&10th of June are included in my chess sponsored holdings. I'm relatively new to trading so I was just looking for any possible reasons for this?

Any advice much appreciated,

Michael.
 
you may have made a typo on the number of shares you were trying to sell, if it was more than what you have, thats what wouldve happened... try placing the order again now.
 
Michael,

I have been able to sell shares with CommSec in the past regardless of whether they have been settled by Chess or not, to best of my knowledge it shouldn't make any difference what Chess have on their system (unless they are issuer sponsored? :confused: )

You should be free to sell your shares whenever you please, Are you sure you have the stock code and everything correct in the sell ticket? Double check the holding amount and code.

Cheers
Brad
 
Thanks guys, i've checked the details and am certain they are correct??? The amount i'm looking to sell is about 10% of what I purchased so its not a problem with the amount I hold vs wish to sell.

I assume the shares are not issuer sponsored as no SRN was give on the order confirmation?
 
I had a similar problem using Comsec WebIress whereby I couldn't sell because I had a conditional order set for the shares.

Once I cancelled the conditional sell order I could then sell the shares.
 
Thanks guys, i've checked the details and am certain they are correct??? The amount i'm looking to sell is about 10% of what I purchased so its not a problem with the amount I hold vs wish to sell.

I assume the shares are not issuer sponsored as no SRN was give on the order confirmation?

If the total value of the trade is below $500, the order wont go in either with comsec, is that the case?
 
That has happened to me in the past when I already had a previous sell order on those stocks.
 
I have no conditional sell order or any other outstanding orders on the stock and yes the value of the order is over $500.
 
I have no conditional sell order or any other outstanding orders on the stock and yes the value of the order is over $500.

I suggest giving them a call. It's hard to tell what could be going on over a public forum, if you call them they'll be able to look at your account and tell you exactly what is wrong.

Cheers
Brad
 
Yeh i'll give them a call Monday, just wanted to check I wasn't making any mistakes or if there was any specific questions I needed to ask.

Thanks for the help.
 
usually all shares will appear on your portfolio page, and if for some reason an exist sell order is held over a share, then the available shares column will be 0 or les than the shares held column.

eg:
does your portfolio list the shares:
ABC 9000 shares held; 0 shares available? or system doesnt recognise you even hold shares?
 
I contacted commsec, the problem was I purchased the shares before commsec had assigned me a HIN so the shares are issuer sponsored.
 
I contacted commsec, the problem was I purchased the shares before commsec had assigned me a HIN so the shares are issuer sponsored.

seems strange that other shares purchased on that date were chess sponsored. anyway, good its all sorted now.
 
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