The broker sells an ANZ product - a debt vehicle. If the broker goes bust, ANZ still have the relationship with the individual.
The individual pays off their loan to the ANZ - there is no link between them.
Opes however loaned a pool of money from ANZ which it then on loaned through a margin facility for client to purchase stock.
They can't treat individuals differently, as they need to recover all their money - the basket cases brought the whole lot down (as well as the business model as a whole).
Personally, I'm glad to see Opes gone - I feel for their clients, however their business model was not good for the Australian market IMO - it allowed far too much manipulation of already risky speculative stocks.
All the best.
- Forums
- ASX - General
- opes prime and anz
opes prime and anz, page-5
-
-
- There are more pages in this discussion • 81 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)