commsec too slow to process anyone, page-13

Dunno how many you call a few oppies but I had same problem a while back when trying to sell something like 50k (may have been a bit more) CMR at market -

Could see I could get rid of the amount I wanted over a spread of something like 7 or 8 c I think if I recall right. So put order in to sell them at market

Only about 5 or 10k of them went thru at market and the rest just sat there first cab off the rank on the que and I could not amend/cancel or do anything to get rid of it. CMR has been pretty illiquid at times and back then dumping 5 or 10k and plonking 40 – 45 k in behind it would push the price down quick smart.

If the sale had been done at market I would have had all executed over something like a 7 or 8 c spread but as soon as they plonked the remaining 40 – 45 k at the front of the que a number of buys were pulled and heaps of small orders jump under me - and as a consequence the price was pushed down AND THEY KEPT MOVING THE 40K DOWN A CPL OF CENTS WITH EACH FALL and of course more smaller sales jumped ahead of me again and again - the price was very quickly pushed down I think somewhere greater than 20c and in no time and lead to a bit of a tumble – a tumble to where I no longer wanted to sell

Got str8 on the phone to comsuc and asked them to pull the order coz I couldn’t cancel it – the dumb fick kept trying to explain why I couldn’t change it and I ended up having to ask him maybe 6 times to cancel the bloody thing – finally I had to abuse him to get him to act because it had pushed the price down so far and so fast – AND kept moving down with it that I could see I’d soon end up in one of the Olympians lemming nets at a price I didn’t want to sell at.

When they finally pulled the order I had time to start blowing the craap out of them and ask what the *^*$# they were playing at - the response was that they did not execute it as "at market" order because they have an obligation to maintain an orderly market – and by selling a large parcel at market can disrupt the market so they executed some and put the rest there at the top of the que and kept moving it down.

You can imagine my retort to that sort of stoopid response…..I of course responded in a very composed manner and politely suggested that if they have an obligation to maintain an orderly market it might be an idea to get some basic understanding of how to do that.