Brand Architekts Share Discussion Threads

[barcstock] 02/7/2004 15:49

Hi abcd1234

Thanks for your comments. I thought it would be helpful to provide some background information on this issue.

When you trade online, as soon as you select a stock, the initial dealing screen displays both the current indicative buy and sell prices, regardless of whether placing a sale or purchase, to allow you to see the spread.

What is shown on subsequent pages is determined by which of our dealing options you choose. A Limit Order of course allows you to set your own price. If this is available in the market we will ensure you get this price or better. If you go for a real-time Quote & Deal trade, we do the work for you. We search across multiple market makers, using Barclays Stockbrokers Price Improver® for the best price available to us for the size of deal, and it is this price that we display on the dealing screens.

In fact, our aim is to be as transparent as possible with our clients about this process and the prices we are getting on your behalf. The price displayed is actually held with the MM to allow you to see exactly what price you will receive, before you go ahead and place your order.

However, as part of recent enhancements to the online dealing experience, we made some changes to streamline this page, so now the most relevant information is easily visible for clients. So if you're buying we'll show the buy price onscreen, with any improvements; and if you're selling, the sell price, with any improvements. There hasn't been much client feedback on the removal of the opposite price information from this page. Of course, if that changes, and clients tell us they want this information here, we will look at reinstating it on the page in future.

Regards

Julie
Barclays Stockbrokers

[abcd1234] 02/7/2004 15:07

Thanks DVDA, alas not poss with Barclays/Schwab

anyone else got any info got any other info on what Barclays are up to / which mm's they are in cahoots with on this shady move??

t.i.a.

[dvda] 02/7/2004 14:15

I see. I have the same problem on TD Waterhouse i.e. can only see one side of the quote, but I can put through a dummy sell by pretending I hold shares in certificated form, rather than in my nominee account.

[abcd1234] 02/7/2004 07:14

dvda - alas cannot put a dummy sale thru first and get real mm (actual) prices (ie down to the minute 3 decimal places that gives u the real picture as to whether the mm's are filling up or running out of stock BEFORE level 2 shows an mm move) unless you already hold at least 1 share of that particular equity. Thanks anyway.

Anyone else experiencing/experienced with these Barclays/Schwab Stockbrokers problems? Would like to hear from you.
t.i.a.

[abcd1234] 02/7/2004 07:10

Spaceman..let me know how you get on. I suggest u put it in writing, I have(but have been fobbed off - Pity as I am a long term professional investor, which matters not to Barclays). Let me know how u get on please. By the way, dont use their online contact form. If u write via post, the complaint is dealt with seriously, and you get a more considered response. Thou still much the same

Re the tecnical problems - they have a real problem as u describe re cannot log on. I've raised this again and again, but have been told their tech dept says no prob, and it's just me. Do let them know, they'll have to take notice eventually.

[dvda] 01/7/2004 18:23

I know it's a bit of hassle, but you could just put through a dummy sell first.

[spaceman] 01/7/2004 16:28

abc, soory I have been out for a few hours, I didnt actually complete the deals today I just went as far as the quote screen as I thought that was where you meant. I agree with you that removing the actual price is a backwards step and I will have a word with them tomorrow just so that they know I am not happy ;-)

The problems I had were that it was not giving quotes from the deal scree, they know about this and have had it for several days, also at one point this morning I could not logon.

[abcd1234] 01/7/2004 15:37

Spaceman.........what dealing difficulties have u encountered? Barclays when asked b4 about this, said I was the only one and they were unaware of diffs for other people. Interested to hear from you re both these points

[abcd1234] 01/7/2004 14:49

Spaceman....here's a Screen Paste I've just done for you on a test BUY order for 1 share of AZM .......note in the bottom left hand corner there is NO sell price given, just a gap on the page.

Any views from folks on Barclays pulling a fast one in cahoots with the mm's welcome



~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Buy 1 ALIZYME ORD GBP0.02 @ 133.50p Quote Held: 15 seconds
Barclays Stockbrokers Price Improver®: You save £0.01 on this order.

Order Details........... Order Costs

Number of Shares 1..............Consideration £1.34
Amount £1.34.......................Stamp Duty / SDRT £0.01
Include Charges n/a..............PTM £0.00
Buy Price 133.50p...............Commission £7.50
..................................Contract Total £8.85

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

[abcd1234] 01/7/2004 14:43

Spaceman, ...it's both prices at once on REAL mm quotes, not just the level 1 quote page that quotes what the standard avilable buy and sell quotes are......

i.e (as I say above), when u were about to BUY u also used to get quoted (on the Quote & Deal facility) the ACTUAL sell offer from the mm's. This enabled one to see when the mm's were after ur stock, or likewise when they were ready to drop at the first sell going through.

What were u quoted?? because it's no longer available. Removed last week alas.


Biffer,.... yes of course I have asked them. Their unbelieveable reply is that they felt "it was too much information to give and unnecessary". Read into that what you will. So much for working for the client customers. Not!

any views on this anyone?? =:O

[spaceman] 01/7/2004 10:48

abc etc, are you sure about this??? Where did that information come from?

I have just tried a few test deals and it gave me both prices? They have had some technical problems today but I have just spoken to them and they claim to have solved them all now (including the dealing problems that have been around for several days). If you use Quote and Deal it definateley shows both.

[biffer] 01/7/2004 09:29

Have you asked them why they're doing this?

[abcd1234] 01/7/2004 08:35

Help!

Barclays Stockbrokers (which took over Charles Schwab UK/Europe last year) is up to something, and it's made life more difficult for the investor, but boy are the market makers delighted.

Barclays have decided that when you now trade with them you will only be given the BUY price (if buying) or the Sell price (if selling) i.e. no longer when you are about to BUY some stock will you be able to see the real opposing "sell" price that the mm's are offering at that point (which as we all know gives you the indication as to whether the mm's are short of stock or not etc etc.). And visa versa for when you are Selling a holding.

Now this spectacular retrograde step is very very suspecious. Barclays have considerable clout in the market. One suggestion is that mm's have argued that too many investors now have access to much of what the REAL mm prices are (i.e. going beyond Level 2 and showing too many ordinary investors the real buy & sell prices available). Yes we know this is offered by many online stockbrokers etc, but that the mm's problem here is the sheer volume of investors that have been using this information through Barclays/Schwab Stockbrokers.

Market makers attempting to protect their advantage from the biggest online broker that supplies this information?? Barclays working in cooperation with mm's to protect concessions given to Barclays?? This is worse.

Surely it's not back to the days before of undermining the investor by giving less information. Then it's even less of a level playing field?

We all expect mm's to attempt to feather only their OWN nest. But arn't the stockbrokers supposed to work on the behalf of their clients....the investor?? Surely the City can be trusted?

Either way the investor is losing out. Is Braclays protecting it's own and the mm's interests?

Information/views appreciated

[abcd1234] 01/7/2004 08:33

Help!

Barclays Stockbrokers (which took over Charles Schwab UK/Europe last year) is up to something, and it's made life more difficult for the investor, but boy are the market makers delighted.

Barclays have decided that when you now trade with them you will only be given the BUY price (if buying) or the Sell price (if selling) i.e. no longer when you are about to BUY some stock will you be able to see the real opposing "sell" price that the mm's are offering at that point (which as we all know gives you the indication as to whether the mm's are short of stock or not etc etc.). And visa versa for when you are Selling a holding.

Now this spectacular retrograde step is very very suspecious. Barclays have considerable clout in the market. One suggestion is that mm's have argued that too many investors now have access to much of what the REAL mm prices are (i.e. going beyond Level 2 and showing too many ordinary investors the real buy & sell prices available). Yes we know this is offered by many online stockbrokers etc, but that the mm's problem here is the sheer volume of investors that have been using this information through Barclays/Schwab Stockbrokers.

Market makers attempting to protect their advantage from the biggest online broker that supplies this information?? Barclays working in cooperation with mm's to protect concessions given to Barclays?? This is worse.

Surely it's not back to the days before of undermining the investor by giving less information. Then it's even less of a level playing field?

We all expect mm's to attempt to feather only their OWN nest. But arn't the stockbrokers supposed to work on the behalf of their clients....the investor?? Surely the City can be trusted?

Either way the investor is losing out. Is Braclays protecting it's own and the mm's interests?

Information/views appreciated