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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Luisa Bustos

PC World
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?