tranches of, say, 20 shares, each incurring the broker f ive fee sets. The problem was that the broker had no idea how much a trade would end up costing and so the online brokers all implemented a minimum trade fee coupled with a percentage-based fee charging whichever was higher. The new billing method will see a f lat 0.0053% charged (with a cap of R350), so now brokers will know exactly what their cost will be. This should enable brokers to do away with (or at least markedly reduce) their minimum fee and hence smaller transaction sizes will be viable on the market. a minimum. The result was a stark selloff of some 10%. The lesson is simple: expectations and stock prices are high and companies cannot afford to disappoint otherwise the sellers will arrive in force.