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EasyEquities Pricing Methodology

EasyEquities offers clients a Non-DMA (Non-Direct Market Access) platform, with 15 minute delayed prices on SA, US, EU and UK and 20 minute delayed prices on Australia. The reason for the delayed prices is simple: economics. The relevant exchanges charge (some quite a bit) for streaming live data and anything inside of these specific delays they consider as live so hence would charge for. There’s sufficient evidence supporting the fact that when investing, delayed prices versus live prices make little difference. However, to meet some clients requirements we have built a feature to view a snapshot live price, thereby allowing the client to pay only per view using EasyCredits.

E.g.  Client A invests once month. As a non-professional the exchange will charge R98.92 (excl. VAT) for access to live prices (i.e. whether it’s used or not). If Client A uses EasyCredits and requests a live snapshot prior to making their investment, the current cost is R0.25, which is quite a difference from R98.92 (excl. VAT).

More importantly, whilst clients view 15 minute delayed prices, all execution of trades and orders occur at the live underlying market price at the time. Being a non DMA platform, we are reliant on the prices that are available to all market participants on exchange. We do not make prices. Clients trades are executed at the best prices that are available on the exchange, not just to us, but to all market participants.

E.g. if a share’s price on exchange is 360c – 370c, when clients buy on the EE platform they will be filled at the price of 370c (offer price) and when clients sell on the EE platform they will be filled at the price of 360c (bid price). The last traded price is not referenced for execution. Clients cannot, via the EE platform place underlying market bids and offers because it’s a non-DMA platform and clients do not participate in auctions (opening, closing or intraday volatility auctions).

EasyEquities as a platform has consciously made the decision to be Non-DMA especially given our long term investment philosophy.

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© EasyEquities. EasyEquities is a product of First World Trader (Pty) Ltd t/a EasyEquities which is an authorized Financial Services Provider (FSP number 22588). All trades on the EasyEquities platform are subject to the legal terms and conditions to which you agree to be bound. The EasyEquities platform enables users to invest in securities which includes whole shares and fractional share rights (FSRs). EasyEquities acts as an agent for the issue of whole shares, where the investor is the registered owner of those shares, entitled to dividends, participation in corporate actions and all the economic benefits and risks associated with share ownership.

In respect of FSRs, EasyEquities acts as principal to a contract for difference issued to the investor, where the investor will have a contractual claim against EasyEquities to the economic benefits and risks associated with share ownership (price movements and dividends) without having ownership rights in the underlying share. Fractional share rights (FSRs) which are issued through a contract for difference, are an over the counter derivative. Unlike whole shares, FSRs do not carry any voting rights. As the investor makes further investments in FSRs and ultimately ends up with a whole share, the contract for difference is closed out and ownership whole share is delivered to the investor.

The availability of any share on the EasyEquities platform is based on various factors but is not an indication of value and does not mean that any share is an appropriate investment for you.

The availability of any share on the browse shares page does not necessarily indicate any contractual relationship between EasyEquities and the listed company, or the payment of fees for services. Brand Logos are owned by the respective companies and not by EasyEquities. The use of a company’s brand logo does not represent an endorsement of EasyEquities by the company, nor an endorsement of the company by EasyEquities, nor does it necessarily imply any contractual relationship. Further investment disclosures are available on the EasyEquities website.

* Note exchange prices are delayed in accordance with regional exchange rules. South African prices are delayed by 15 minutes; North American prices are delayed by 15 minutes; Australian prices are delayed by 20 minutes.

EasyEquities is a subsidiary of Purple Group Limited, a company listed on the JSE Limited (PPE)