Deluge delays online traders

Many sites, including Commonwealth Securities, the Commonwealth Bank's share trading arm; E*Trade Australia Securities; Fairfax's Trading Room; Quicken.com.au's trading site, Quick.Broker; and OzEmail Stockwatch have all been experiencing delays due to increases in volume.

ComSec, with around 45 per cent market share in the online trading sector, appears to be worst hit by the frenzy, with some members experiencing login difficulties as well as access problems. Many customers have been unable to access their personal portfolios, known as watchlists, and others have been forced to trade via phone. Delays are also being experienced by customers phoning the customer service line.

Customer service officers from ComSec have admitted to the delays and are helping customers trade, but IDG understands the standard minimum telephone brokering fee of $50 still applies.

Officials from the online trader were not available for comment, and an estimated time for the service to resume to normal was unknown. ComSec is believed to have more than 500,000 members, while the number of internet subscribers was unobtainable.

Rival online trader E*Trade has also experienced delays, but according to John Bowden, E*Trade client representative, customers can still trade online and gain information. He said traffic to E*Trade was around 50 per cent higher than previous trading days. E*Trade claims to have around 30 per cent of the online market and currently has around 52,000 subscribers.

While few customer complaints had been received, Bowden said the website had been "a bit slower". "Because the net has been a bit slow, customers are getting quotes over the phone," he said. "There's no dramas . . . people are waiting on the line for only three seconds."

Fairfax's online share information service, Trading Room, was also experiencing difficulties. "We have obviously been affected by it," a customer service operator said. An abnormal volume of traffic was leading to intermittent delays of information from the website, she said.

While Quicken.com.au's corporate communications manager, Catherine Drewe, was unable to comment on the performance of Quick.Broker, she said Quicken's financial information service, MarketMonitor, had experienced increased traffic.

"Compared with Monday last week, as of 1:00pm today, page impressions (to MarketMonitor) had reached 87 per cent of the total (for the previous Monday)," she said.

Exact details on how the site held up throughout the day will be clearer tomorrow, she said.

Join the PC World newsletter!

Error: Please check your email address.

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Luisa Bustos

PC World
Show Comments

Essentials

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Windows 10 for Business / Dell XPS

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?