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Settlement: T + 2

Important notice regarding settlement of NZX and ASX transactions.

 

What is the change?

On 7 March 2016 the NZX and ASX markets reduced their current settlement period of trade date plus three business days (T+3) to a settlement period of trade date plus two business days (T+2) for trades on their markets.

 

Why is the change being made?

Shortening of the settlement period on NZX and ASX markets will ensure NZX and ASX match international best practice in this area and align with each other.

 

BUYING SECURITIES

If you buy securities payment must be made in cleared funds within two business days after the trade takes place.

 

SELLING SECURITIES

If you sell securities payment will be made to you overnight on the second business day after the trade has taken place.

 

Are there any other changes which I need to be aware of?

All dealings with HHG will be undertaken in accordance with this new industry standard and you will be taken to agree to dealing on this basis for any Order placed with HHG.

 

Questions or concerns?

If you have any questions or concerns, please call your adviser at HHG or send an email to enquiries@hhg.co.nz You can also find more information about the changes to the NZX and ASX settlement periods on nzx.com and asx.com.au

 

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