Share Dealing Discussion Area

System

freebiequeen wrote: »

Does anyone know of a UK stockbroker that starts trading at 8am, as opposed to at 8.15am? (The shares I wanted to sell reached my target at 8:06 this morning, but, by 8:15, they’d dropped substantially).

I think that they all start trading at 8am! Are you talking about a limit order?

freebiequeen

Yes, I am - apologies! At my broker, limit orders are no longer triggered until 8.15am, as a result of which, my shares were not sold when my limit was reached at 8.06 this morning.

george4064

freebiequeen wrote: »

Yes, I am - apologies! At my broker, limit orders are no longer triggered until 8.15am, as a result of which, my shares were not sold when my limit was reached at 8.06 this morning.

What stock did you have a limit order for? And for how many shares?

System

freebiequeen wrote: »

Yes, I am - apologies! At my broker, limit orders are no longer triggered until 8.15am, as a result of which, my shares were not sold when my limit was reached at 8.06 this morning.

Not triggering limit orders until 8:15am probably makes sense most of the time as the bid-offer spread is fairly large early in the morning so you might not get a good deal. Are you sure that the price you were looking at was the bid price and not the mid price?

imsi

What is the cheapest way of selling shares as a one off transaction?
Would I need to notify/pay Equinity when selling shares that they are managing?

george4064

imsi wrote: »

What is the cheapest way of selling shares as a one off transaction?
Would I need to notify/pay Equinity when selling shares that they are managing?

With whom do you hold the shares with? and in what format?

bowlhead99

imsi wrote: »

What is the cheapest way of selling shares as a one off transaction?
Would I need to notify/pay Equinity when selling shares that they are managing?

If you hold the shares in paper form the cheapest way to sell them is to open up an online account with a cheap execution-only broker like https://www.x-o.co.uk and then send them the share certificates so they can be registered to your online account, and then place an order to sell the shares for a quite low dealing fee of only a few pounds per transaction.

If you hold the shares electronically in an online account with a broker or nominee provider, the cheapest way to sell might be to transfer them to another broker (such as x-o mentioned above) and then sell, although this may incur 'transfer out' fees from your current service provider. So it might be cheaper just to have whoever is currently holding them for you, to sell them for you. Certainly that would be quicker so avoids possible market price reductions while you are faffing about moving them to the place with the cheapest sale fees.

Equinity are the registrar for a lot of public listed companies, i.e. they maintain the register of shareholders which the companies pay them to do. If you buy or sell shares on the stock market with a stock broker, after the trade has been completed the broker or the stock exchange will inform equinity (or whoever the registrar is for that particular company - e.g. computershare, capita etc) so that the master shareholder register can be updated. You don't need to inform equinity that you have bought or sold or pay them anything if you are not using them as your broker to place the trade onto the stock market. The company will pay them a fee for ongoing registrar service.

However on top of that registry service for the company, Equinity also offer a nominee and dealing service like other brokers do, and some people who own shares in just one or two companies and don't want to buy and sell shares on the wider stockmarkets or had acquired then through a work sharesave scheme might have Equinity look after them on shareview dealing platform rather than involve a separate stockbroker service or need to keep their paper certificates themselves. If your shares are currently 'with' Equinity, you could ask them to sell the shares in the market for you (paying some fee for that transaction) or transfer your shares to another broker to do the sales work for you.

Lungboy

What's the difference between share class? For example, with Cavendish you can buy both Architas MA Passive Growth Acc A and Architas MA Passive Growth Acc D. The D fund has a lower cost, but other than that they seem identical. Similarly, Blackrock Consensus 85 D vs 85 I, they look absolutely the same to me.

e: if you download the Blackrock paperwork for Consensus 85 I from Trustnet you get 85 D!

bowlhead99

Lungboy wrote: »

What's the difference between share class? For example, with Cavendish you can buy both Architas MA Passive Growth Acc A and Architas MA Passive Growth Acc D. The D fund has a lower cost, but other than that they seem identical. Similarly, Blackrock Consensus 85 D vs 85 I, they look absolutely the same to me.

The difference is the running costs/ management fees. The cheaper class may have restrictions on where you can buy it, minimum holding size or minimum ol amounts for one-off/ regular contributions. A lot of the DIY platforms offer the 'institutional' version without you needing to invest millions because collectively with their other customers, you do have millions.

Buy the cheapest version available at your choice of platform. Some platforms have exclusive classes (or semi-exclusive) that are hard to get elsewhere.

Lungboy

bowlhead99 wrote: »

The difference is the running costs/ management fees. The cheaper class may have restrictions on where you can buy it, minimum holding size or minimum ol amounts for one-off/ regular contributions. A lot of the DIY platforms offer the 'institutional' version without you needing to invest millions because collectively with their other customers, you do have millions.

Buy the cheapest version available at your choice of platform. Some platforms have exclusive classes (or semi-exclusive) that are hard to get elsewhere.

Fantastic, thanks very much.