I have experienced delay many times on my shares mandate execution by my stockbroker. I have also read complaints by investors on delay on execution of their shares mandate by their stockbrokers. Meanwhile, some investors joyfully announce the timely execution of their mandate by their stockbrokers. Therefore, I came to the conclusion that there must be inner workings which my fellow investors and I do not understand about stockbrokers and the NSE.

That brings me to the question whether stockbrokers operate on the NSE in order of seniority whereby juniors wait for seniors to carry out their transactions before them. I mean, do we have First eleven and Second eleven brokers on the NSE? OR, Are they First Class and Second Class stockbrokers?

In line with the questions above, I will like to know whether there are "cabals" on the NSE.

jamace: I have experienced delay many times on my shares mandate execution by my stockbroker. I have also read complaints by investors on delay on execution of their shares mandate by their stockbrokers. Meanwhile, some investors joyfully announce the timely execution of their mandate by their stockbrokers. Therefore, I came to the conclusion that there must be inner workings which my fellow investors and I do not understand about stockbrokers and the NSE.

That brings me to the question whether stockbrokers operate on the NSE in order of seniority whereby juniors wait for seniors to carry out their transactions before them. I mean, do we have First eleven and Second eleven brokers on the NSE? OR, Are they First Class and Second Class stockbrokers?

In line with the questions above, I will like to know whether there are "cabals" on the NSE.

Some stockbrokers are more efficient than others, may be you should start trading with a big house.

^^Ok. Thanks.
But don't you think "efficiency " could be facilitated by some other factors?

I have shares in a so called big and a small house....na the same thing..

Stockbrokers are generally lousy maily due to the way they are set up to operate...one man has to do the trading on the floor...

for me i jus try to find who the exact person that goes to the floor of the exchange is and make friends with him...once in a while arrange something for him from your loot..

once you win him on ur side he will go the extra mile for you! dazall!!

^^^^You mean "Work-shop" is the grease that oils AGBERO-ISTIC tendency in some brokers, eh?

Well, i think the big stockbroking firms might have this issue in the sense they have several daily requests to attend to and sometimes prioritise the big portfolio customers ahead of the so called 'lean portfolio owners'. In my own case, i have an account officer in a medium size stockbroking firm who attends to my need promptly even if i send my bid as late as 12 noon and still get it carried out especially when they trade 'IN-HOUSE'. I also grease his palms anytime i hit lil or big profit from time to time out of my own sheer will (He has never demaded for anything since 7yrs i've been with them)

jamace: ^^Ok. Thanks.
But don't you think "efficiency " could be facilitated by some other factors?

I think size, division of labour, technology etc can increase the efficiency.

Aks: Well, i think the big stockbroking firms might have this issue in the sense they have several daily requests to attend to and sometimes prioritise the big portfolio customers ahead of the so called 'lean portfolio owners'. In my own case, i have an account officer in a medium size stockbroking firm who attends to my need promptly even if i send my bid as late as 12 noon and still get it carried out especially when they trade 'IN-HOUSE'. I also grease his palms anytime i hit lil or big profit from time to time out of my own sheer will (He has never demaded for anything since 7yrs i've been with them)

Technology will eradicate this problem, in a big house you hardly know who does the trading but you find out that your instructions are executed, due to division of labour.


This is frowned at in most of the big house.

In my opinion, I think "Size" plays a very important role here. Why do you think some stockbroking firms demand millions of Naira just to open an account whereas you can open a stockbroking account with as low as N50,000 in some other firms? e be like say levels dey pass levels for that industry. Even within the same stockbroking firm, there is still favouritism in the execution of mandates. Just like what happens in the banking industry, no stockbroking firm wants to show the slightest sign of incompetency to a client whose portfolio is worth N100 Million or more. They will definitely reply your emails promptly and execute your mandates first before attending to the ordinary investor's mandate.

feelamong: I have shares in a so called big and a small house....na the same thing..

Stockbrokers are generally lousy maily due to the way they are set up to operate...one man has to do the trading on the floor...

for me i jus try to find who the exact person that goes to the floor of the exchange is and make friends with him...once in a while arrange something for him from your loot..

once you win him on ur side he will go the extra mile for you! dazall!!

This your method no bad at all. But how you take sure say na the main person wey dey go trading floor be dat? Because some brokers sabi make mouth die...

Aks: Well, i think the big stockbroking firms might have this issue in the sense they have several daily requests to attend to and sometimes prioritise the big portfolio customers ahead of the so called 'lean portfolio owners'. In my own case, i have an account officer in a medium size stockbroking firm who attends to my need promptly even if i send my bid as late as 12 noon and still get it carried out especially when they trade 'IN-HOUSE'. I also grease his palms anytime i hit lil or big profit from time to time out of my own sheer will (He has never demaded for anything since 7yrs i've been with them)

Pls who is your stockbroker?

But stockbrokers have TEAMS. I saw that on their jersey. What is the influence of belonging to one team or the other on the trading floor?

Dominion tryst limited @ IGBOSERE, Lagos Island

Dominion trust limited @ IGBOSERE, Lagos Island

I think its mainly a function of demand and supply. It takes abt 4 business days to complete a transaction, ceteris paribus

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