|
|
 |
Share and Bond Trading Security
Registering for Share and Bond Trading
Using Share and Bond Trading
Risks with Share and Bond Trading
Who provides this Service
Brokerage
Tax
What types of Equity orders are permitted through Share and Bond Trading?
Purchasing of rights
Custody Explained
Placing an Order
Additional Info
Share and Bond Trading Security
How do I know that National Bank Share and Bond Trading is safe and secure?
The data travelling across the Internet between your computer and
our Share and Bond Trading system is encrypted. All transactions are
transmitted in a secure 128-bit encrypted environment. This helps protect your
data from other people as it travels across the Internet.
How often do I have to change my Trading Password?
The National Bank Share and Bond Trading system does not force you to change
your Trading Password. However, we recommend that you change your password
regularly, and at least once every three months. Your password is your 'key' to
trading. It is therefore important that you take precautions to keep it safe.
Under the Share and Bond Trading Conditions of Use, you are obliged to protect
your passwords. To change your Trading Password, use the ‘Change your Password’
link within the My Preferences section (you will need to be logged on to the
site to do this).
Registering for Share and Bond Trading
Who can register?
To register you need to be:
-
A National Bank customer with a transactional account (for example, a current,
savings, or flexible home loan account)
-
Resident in New Zealand and/or carry on business in New Zealand
-
Aged 18 or over.
In addition, you can register as:
-
an Individual
-
a Joint Account
If you have a joint bank account with The National Bank, you can open a Joint
Trading account. This means that any shares you buy will be registered in joint
ownership,
-
a Company or
-
a Trust.
Where you have registered as a Trust, your Trading Portfolio in Share and Bond
Trading will display the name of your trust, however, the shares or bonds will
be registered in the name of the trustees, on behalf of the trust. You will
also need to ensure that:
-
The trust accounts can be operated by just one person (i.e. two or more
signatures are not required)
-
The trust deed allows investment in shares
-
Your nominated National Bank account must be in the name of the trust.
How do I register?
To register, simply select the “Sign up” tab on the left hand navigation and
complete your details. You’ll then be sent an application form including direct
debit form, CHESS Application form (for ASX trading) and the terms and
conditions. As part of our NZX requirements, you’ll also need to provide
current photo identification such as a copy of your drivers licence or
passport. You’ll also need to send us a copy of your National Bank account
statement, pre-encoded deposit slip or cheque.
Once your Share and Bond Trading account is up and running, we’ll provide you
with your trading password.
Using Share and Bond Trading
What is FASTER (FIN)?
FASTER is the electronic trading, clearing and settlement system used by the
NZX. It stands for 'Fully Automated Screen Trading and Electronic
Registration'. FASTER transaction statements contain details of shareholder
name and addresses, Common Shareholder Number (CSN), security description,
date, transaction type, reference, quantity and current holding.
What is CHESS and why should I elect to be sponsored by E-trade?
CHESS is a computerised share sub-register system operated by the Australian
Stock Exchange. We strongly recommend that you elect to be sponsored by E-trade
for the CHESS system. This is mandatory for all National Bank Share and Bond
Trading customers and offers you the following.
-
You can trade or sell your shares immediately. Alternatively you cannot sell
your shares unless you know your Shareholder Reference Number (SRN) and it can
take up to six weeks to get your SRN from some companies.
-
You have only one Holder Identification Number (HIN) for all your
shareholdings. Alternatively you are given a different SRN for each company. A
single HIN is easier to remember and, if you change address, you only need to
notify us rather than notifying every company that you hold shares in.
If you already have shares sponsored by another sharebroker, you can arrange to
have them transferred to E-trade by faxing or mailing your instructions to us
including copies of any holding statements.
What are the minimum investment requirements?
The minimum parcel of shares that can be registered is based on the particular
price band a stock falls under. A general guideline is $500.
Minimum
Holdings at any time shall, unless otherwise determined by NZX, should be as
follows:
-
In relation to Equity Securities, a holding with a market price at the relevant
time of:
| Number of Units |
Price (both figures inclusive) |
| 2,000 |
Where the price does not exceed 25 cents |
| 1,000 |
Where the price exceeds 25 cents but does not exceed 50 cents |
| 500 |
Where the price exceeds 50 cents but does not exceed $1.00 |
| 200 |
Where the price exceeds $1.00 but does not exceed $2.00 |
| 100 |
Where the price exceeds $2.00 but does not exceed $5.00 |
| 50 |
Where the price exceeds $5.00 but does not exceed $10.00 |
| 25 |
Where the price exceeds $10.00 |
-
In relation to Rights to Equity Securities, the number that would, upon
exercise, convert to a minimum holdings as specified in (a).
-
In relation to Debt Securities, a holdings with $5,000 principal amount.
-
In relation to any other Securities, a holding with $1,000 face value.
Where the minimum holding requirement is met at the time of order submission or
order execution but, due to a price variation or corporate action, is no longer
met on settlement; the security holding will not be registrable.
Where this occurs the National Bank Share and Bond Trading team will contact
you. At this point you will have two options:
-
Purchase additional shares to raise the parcel above the minimum holding.
-
Cancel the transaction.
How do I sign onto National Bank Share and Bond Trading for the first time?
Enter your account number in both the user/account number field and password
field. The password is case sensitive. You will then be prompted to change your
password. Full sign on instructions will be sent to you shortly after the
account is opened.
What bank accounts can I trade from?
You can only trade from The National Bank transactional account noted
on the direct debit form. To change this account, you will need to complete
another direct debit form. Please note you can only have one account loaded at
any one time.
How do I place an order to buy or sell shares?
To place an order you will need to be a registered user of the system. Once
logged in, you’ll then see a separate menu displayed. Please note you’ll need
to be logged in. Detailed help is available (see the 'need some' help link on the
top right hand corner of the page). National Bank Share and Bond Trading also
provides tools and information to help you choose your shares.
For trading on the NZX, you will need to provide Direct Broking with your Common
Shareholder Number (CSN) and FASTER Identification Number (FIN). All FINs are
held encrypted at Direct Broking Limited.
For trading on the ASX, you will need to apply for and be issued with a CHESS
account, and then provide your HIN and SRN number.
How quickly can I expect my order to be filled?
The time taken to fill an order depends on several factors, including
prevailing market conditions, how many other buy or sell orders have been
placed, the order price, and the number of buy or sell orders in the market.
For a "buy at market" or a "sell at market" order in a share that is frequently
traded, your order will probably be filled within a relatively short timeframe.
If your order is conditional, or for a share that is infrequently traded, it
may take longer to fill, and could expire without being filled.
Once your order has been filled, we will forward you a contract note via email.
How do I cancel or amend an order?
You can request to cancel or amend any open order, by going to the ‘My Order’
section of the website when logged in. You will receive a confirmation of your
cancellation or amendment request by email.
You should be aware though that because of the process involved, there may be a
delay in cancelling or amending your order and cancellation or amendment cannot
therefore be guaranteed. If it is too late in the process to cancel or amend
your order, it will be executed according to your original instructions. Either
way, you will receive an email confirmation when your order has been completed,
cancelled or expired. Further detail on the terms of cancelling orders is
contained in the Conditions of Use
Why are my orders filled in parts, or at different prices?
A particular order may not always be filled all at once – it depends on supply
and demand in the market at any time. For example, let’s say you place an order
to buy 5,000 shares in a company ‘at market price’ (i.e. whatever price they
are available at in the market). At the time your order is processed there are
two sellers in the market, one offering 3,000 shares at $1.10 and another
offering 4,000 shares at $1.20. In that case, your order will be made up of all
3,000 offered at $1.10 and 2,000 of the shares offered at $1.20.
This would go through as two separate trades. Your Trading Portfolio will
record the purchase at the average price (in this case $1.14) for the purpose
of monitoring your investments. Your order may also be filled at different
times during the day, depending on the availability of shares.
Note: NZX partially traded orders will expire after four weeks (three weeks for
ASX orders).
You can review the details of any trades on the Review Trades page in the
Trading section of the website.
How long does an order stay in the market?
NZX orders will expire after four weeks (three weeks for ASX orders) or earlier
if there is a corporate action (if the stock goes ex-dividend or the stock goes
'ex' share consolidation or 'ex' share split).
How do I create orders where I know what the final price will be?
When you place a buy or sell order, you may limit the price at which the shares
will be bought or sold. For example, you may place a buy order for 5,000 shares
in a company and specify that you will only pay up to $1.10 per share. Let’s
say that at the time your order is processed there are two sellers in the
market, one offering 3,000 shares at $1.10 and another offering 4,000 shares at
$1.20. In this case your order will be partly filled, with 3,000 shares
purchased. If the balance of the order could not be filled at a price of $1.10
or less before your buy order expired, then the order would close only partly
filled. You might then choose to either leave your holding at 3,000, or place
another buy order with a higher limit or no limit on the price, in order to buy
another 2,000 shares. Or, you may choose to wait until shares are available at
$1.10.
Why can't I see shares in my portfolio?
Only shares and bonds purchased via the National Bank Share and Bond Trading
internet service will appear on your portfolio.
You can modify your portfolio at any time if you have other shares or bonds you
wish to include in your portfolio.
When I sell my shares how long will it take to receive the money?
We will credit your National Bank nominated account three business days after
execution of the order.
When I buy my shares how does settlement occur?
We will debit your National Bank nominated settlement account three business days
after execution of the order.
What information will I receive about my share trades?
You will receive email confirmations when your orders are placed, settled,
expired, or cancelled. In addition, your contract notes are emailed to you
shortly after execution of the trade.
You will also receive advice from the share registry advising all share
movements against your CSN or HIN.
Where and when will my dividends be paid?
As the shares or bonds are held in your name, and most dividends will be paid
into the account that you have provided to the Share Registry.
If a Share or Bond trade settles between the record date and the pay date of a
dividend or coupon, we will allow for this amount in the settlement proceeds.
How will I know when my dividend is paid?
You will receive a dividend advice notice from the Share Registry.
Can I sign up for a Dividend Reinvestment Plan?
Yes, Dividend Reinvestment Plans are available for shares traded via National
Bank Share and Bond Trading. You will need to sign up with the Share Registry
to receive these offers where available.
Why does National Bank Share and Bond Trading restrict depth to customers who have traded on the internet within the last 90 days?
The NZX charges broking firms royalty fees for live
price and depth information accessed by our customers. So we're unable to provide
this data to all customers, and have restricted it to those customers that have
traded with us in the last 90 days.
What are the market trading hours?
NZX trading hours: 10.00am until 5.00pm. Orders can be taken from 9.00am
onwards.
ASX trading hours: 10.00am until 4.00pm (EST Australian time)
Can I place an order when the market is closed?
No. The only order type you can place is
a limit order. At Market price orders can only be placed when a market is
open.
How easy is it to buy and sell shares on the market?
Once you have completed and submitted an application form, it’s very easy. You
can place an order directly on our simple to use online website service.
Risks with Share and Bond Trading
What are the risks of trading shares online?
There are no special risks arising from trading shares online (over and above
the normal risks involved in investing in the share market), provided that you
observe sensible security precautions (such as protecting your customer number
and password) – see Share and Bond Trading Security for more
details.
What are the risks of investing in the share market?
The value of a share may rise and fall considerably depending on what other
people are prepared to pay you for the share when you decide to sell it. This
price volatility will depend on many factors, including; the company, market
sentiment, opinions about the country the share is traded in, the prospects for
the industry and many other factors. Sometimes companies go bankrupt and
investors may lose the entire value of their investment in a specific share.
Shares may also offer the potential for substantial gains, and a range of
returns in between.
How risky is share market investing?
That will depend on the different companies in which you choose to invest and
the market conditions at the time. We recommend that if you are unsure about
the risks you seek independent advice before proceeding.
How do I assess the risks of individual companies?
There are many different methods and approaches to assessing a company for
investment purposes. Users of the service must choose their own method of
assessment and make their own enquiries and decisions.
Who provides this Service
Who is responsible for providing this service?
The National Bank of New Zealand (part of
ANZ National
Bank Limited) has worked with Direct Broking Limited to bring you National Bank
Share and Bond Trading. Direct Broking Limited hosts this Trading website and
undertakes the purchase and sale of securities on your behalf. ANZ National Bank
Limited and Direct Broking are both fully owned subsidiaries of the ANZ National
Financial Services Group.
Who is Direct Broking Limited and what is their role?
Direct Broking Limited is one of New Zealand’s leading online share brokers and
is a NZX Firm of the New Zealand Exchange Limited. Direct Broking Limited is
making the offer to trade shares as a NZX Firm of the New Zealand Exchange
Limited. It deals with other brokers in other markets in order to action trades
on those markets.
Brokerage
How is brokerage calculated?
Brokerage is charged only when shares are actually bought or sold (rather than
when an order is accepted).
Brokerage is calculated on the number of shares actually traded. For example,
if an order is placed for 10,000 shares at a specified price and the order can
only be part filled (i.e. only 6,000 are available at that price), brokerage
would be calculated on the 6,000 shares actually bought.
In the case of orders that are filled in several parts, brokerage is calculated
on the number of shares traded in total. For example, an order is placed on the
NZX for 5,000 shares of company 'A' at $5 per share (total $25,000). The
brokerage on NZX orders over $10,000 is 0.3% - in this case, $75. However,
let’s say there were only 1,000 available at that price when the order is
placed. Those shares are then bought at a cost of $5,000 and the order is part
filled. The brokerage for NZX trades up to $10,000 is $29.50, so that’s the
brokerage that would be charged on this particular trade.
Now let’s say the other 4,000 shares were filled later, also at $5. The trade
is worth $20,000 so brokerage on $20,000 at 0.3% is $60. However, $29.50 has
already been charged on the first trade, so the actual brokerage charged on the
second trade would be $45.50 ($75 - $29.50). The total brokerage for the order
is $75.
For details of brokerage fees, see the section on
Fees.
Tax
Please be aware that we are unable to provide any advice or instruction with
regard to your personal tax situation. We recommend that you seek independent
taxation advice on any areas where you are unsure or require clarification.
At what rate is Resident Withholding Tax applied?
The Resident Withholding Tax (RWT) rate on dividends paid to
New Zealand residents is 33%. The 33% rate applies regardless of whether the
client has supplied their tax file number.
The RWT which needs to be deducted is reduced to the extent that dividends have
imputation credits attached, dividend withholding payments attached, or have
had foreign withholding tax deducted overseas. If a dividend is fully imputed,
has full dividend withholding payment credits or the percentage of foreign
withholding tax deducted is greater than or equal to 33%, no RWT is required to
be deducted.
All dividends are subject to the 33% RWT rate, irrespective of your marginal
tax rate. When your marginal tax rate is less or greater than 33%, an income
tax refund or liability may arise when you file your tax income return at the
end of the financial year.
What types of Equity orders are permitted through Share and Bond Trading?
Market Order
When submitting a market order, you are requesting that the buy/sell order be
placed at the best available offer/bid price at the time the order is entered
into the market. Please note, a market order does not guarantee that the order
will be traded in full.
Limit Order
A limit order is an order to buy or sell a stock at a specific price or better.
A buy limit sets the maximum price you are willing to pay, and a sell limit
sets the minimum price at which you are willing to sell. Limit orders guarantee
you a specific price, but does not guarantee that your order will be executed.
For example, you may wish to purchase a stock that is currently quoted at a
$2.04 bid, $2.07 offer, but do not want to pay more than $2.04. If you place a
limit order at $2.02, your order will only be filled if the price drops to
$2.02 or lower and there are no orders ahead of yours. If it continues to trade
at its current quote, your order will not trade.
Stop Limit Order
A stop limit order is a variation on the stop market order. A stop limit order
is triggered once the stock hits the stop price. However, instead of becoming a
market order, it becomes a limit order at a price that you specify. For
example, you want to limit losses on a stock that you purchased at $5.00, you
enter a sell stop limit order at “$4.80 Stop (trigger) $4.74.” Once the stock
trades at $4.80 or below, your order becomes a limit order to sell at $4.74.
This will ensure that you do not sell at an extremely low price if a stock
opens drastically lower or the stock has a wide margin between the bid prices.
In this example, if the stock drops down at any price below your $4.74 limit,
you will not sell the stock. Conversely, you should be relatively happy if your
stop limit sell order trades at $4.74 or better.
Purchasing of rights
When I purchase rights on the market, why do I need to also pay the application money at the same time?
When you buy rights on the market, we
assume that you are buying them in order to exercise them.
Therefore, to ensure that we receive the application money in
a timely fashion, we require you to pay the full application
money at the time you purchase the rights. We will forward the
application amount on your behalf to the registry at the
conclusion of rights trading on the market. Should you choose
not to exercise your rights and sell them on the market before
the exercise date, we will refund the full application money
to you.
Custody Explained
What is custody?
National Bank Share and Bond Trading, in conjunction with Direct Broking Limited (an NZX Market Participant)
and Direct Nominees Limited (custodian), brings this online US/UK custody trading service to you.
Our online US/UK custody trading service allows you to have your shares held electronically by a custodian.
The main benefit of the custodial service is that it saves time, because you do not have to submit a stock
certificate, when you want to sell US/UK shares and you are able to administer all of your holdings online.
It also means that we look after most of the paperwork to do with owning shares. This means it makes it very
easy for you to own overseas shares as you don’t have to worry about tracking announcements about your holdings,
as we’ll send you all important information as it comes to hand.
What is the alternative to custody?
If your shares were not held in custody you would receive a stock certificate for each “parcel” of shares
that you own. The certificate is posted to you from the US or UK, so you would have to wait up to two weeks
before you could send the stock certificate to a broker to sell the shares.
We do not offer a certificated trading service.
What are the Share and Bond Trading custody requirements?
All of the US and/or UK shares that you purchase when trading online with National Bank Share and Bond Trading
will be held in custody, by Direct Nominees Limited, or a nominated offshore custodian, on your behalf.
Who owns the shares that are held in custody?
You are the beneficial owner of the shares. The registered owner of the shares is the custodian or sub-custodian
who holds them in custody on your behalf.
Being the beneficial owner means that you decide to buy or sell the shares, and you receive dividend payments.
Direct Nominees does not decide when to buy or sell the shares and does not benefit from dividend payments - you
get the benefits of owning the shares (even though you’re not actually the registered owner).
The National Bank Share and Bond Trading service allocates the shares to you, where they are recorded and can be
tracked in your online portfolio. Note: the registration address lists “Direct Nominees Limited” as the recipient
of any documentation.
What happens if a dividend is allocated to shares that I have in custody?
When a dividend is distributed to the shareholders, Direct Broking then allocates the dividend payments to the
beneficial owners. The cash dividend amount will be credited to your National Bank account in New Zealand Dollars.
You will not have the option to re-invest your dividend. Foreign currency charges may
apply in converting the dividends to New Zealand Dollars. Refer to the
service’s Terms and Conditions for details.
What information will I receive about my shareholdings?
Your portfolio details are available online. Custodial portfolios are managed by Direct Broking Limited, so all
corporate actions are processed and updated by Direct Broking Limited, then shown in your online portfolio. This
includes notification of annual reports, as they become available. For copies you will need to visit the ‘investor
sections’ of the companies you have chosen to invest in. You will be emailed settlement notices for all your trades.
Why should I use the online National Bank Share and Bond Trading custodial service?
- Our online trading platform is simple to use
- You don’t have the hassle of posting a stock certificate to us; you can sell shares without one
- Direct Broking processes corporate actions directly for you – e.g. dividend payments
- You can use your online portfolio to track the progress of your shareholdings
Trading in the US and UK markets is considerably more complex than New Zealand or Australian trading. Having your
shares held in custody ensures that your portfolios are managed appropriately and that corporate actions are processed
efficiently. Settlement of trades is standard at trade day, plus three business days (T+3), whereas the settlement
period for certificated non-custody shares can often be a matter of weeks.
The market value of shares can vary greatly from week to week. Direct Broking’s management of custodial portfolios
will ensure that the market value of your shares as appears in your online portfolio is kept current, and available
to you online.
This means that this custodial service makes it simple for you to own shares in
approved companies listed in the US and UK.
What are the costs associated with the online custody service?
CUSTODY BROKERAGE FEES
Check our complete list of brokerage rates and fees for trading US/UK custody shares through
our online service.
| CUSTODY ADMINISTRATION FEES |
| US Custody fees: |
0.5% per annum on holdings value calculated daily and charged following the end of each month |
| UK Custody fees: |
0.5% per annum on holdings value calculated daily and charged following the end of each month |
| UK Stamp Duty: |
0.5% of the value of any transaction resulting in a change in beneficial ownership
|
| Fee Minimum: |
NZ$60 every six months.
There is a minimum charge for the administration of your custody holdings. This fee covers the administration
of corporate actions and communications to you from the company holdings you own in custody. Where your custody
or brokerage charges within a six month period are less than NZ$60 we will charge the difference, making the
total charge for that six month period the NZ$60 minimum. The six month periods begin on 1 April and 1 October
each year.
|
| Transfer IN: |
If you wish to transfer existing stock, held in custody by another broker, in to our custodial service there
is no charge.
Please note: The stock you transfer IN must be traded on either of the following markets: NYSE, NASDAQ,
AMEX and the London SE. The stock you transfer IN must also be part of a pre-selected tradable group of shares
on the those markets. See this question below.
|
| Transfer OUT: |
If you wish to transfer the stock held in custody by Direct Nominees Limited to another custody service you
will be charged for each transfer of each security. Please refer to our fees section
for a complete list of charges. |
Placing an Order
How do I place an order to buy or sell US/UK custody shares?
To place an order for approved UK or US listed securities you will need to be a registered customer of National Bank
Share and Bond Trading. Once logged in, you’ll then see a separate menu displayed.
Detailed help is available (see the “need some help” link on the top right hand corner of the page).
Unlike NZX, ASX or certificated US/UK stocks, you do not need to provide a shareholder number to sell shares held in
custody - simply pick the stock you wish to sell, enter your price limit and click “Go”.
What are the minimum investment requirements?
An order, if filled completely, must result in a custodial position either:
- worth greater than US$500.00/€500.00/£500.00 depending on the currency the instrument is traded in
(for both buys and sells); or
- worth US$0.00/€0.00/£0.00 (in the case of a sell)
What time of day can I place an order to buy or sell US/UK custody shares?
You can provide instructions for an order at any time during the day (except as indicated below) and change them up
to an hour before Direct Broking submits them to the relevant stock exchange. The time your order(s) are submitted
into the US/UK market is 6:00pm New Zealand Time (NZT) each business day. Once the orders are submitted into the market
you cannot change them. If you miss this time then they will be submitted the next business day.
For the time being there will be one (1) bulk upload of all US/UK orders to market each day occurring at 6:00pm NZT.
This makes the product unsuitable for anyone day-trading on these markets. It is our intention however, to review this
policy as demand for the service increases.
Am I able to cancel or amend my US/UK custody orders?
You can request to cancel or amend an order by going to the “My Order” section of the website when logged in. You
can only cancel or amend an order prior to it being submitted into the market (orders are submitted at 6pm NZT).
You should therefore be aware that because of the process involved, cancellation or amendment cannot be guaranteed.
If it is too late in the process (after 6pm NZT) to cancel or amend your order, it will be executed according to your
original instructions.
Please refer to the table below for a simplified explanation of our instruction receipt and order submission
times, each working day.
| Prior to 6:00pm NZT |
You may submit new orders to National Bank Share and Bond Trading and amend these. These orders will be
submitted into the current Market day (soon to open). |
| 6:00pm - 6:30pm NZT |
No new orders or ammendments can be accepted for US/UK markets. Direct Broking submits new orders to the US/UK markets. |
| After 6:30pm NZT |
You may submit new orders to National Bank Share and Bond Trading and amend these. These orders will be
submitted into the next Market day. |
How long does an order stay in the market?
US and UK custody orders are "GOOD FOR A DAY" – they expire at the end of the US/UK trading day. If your order
expires before it trades, then you need to submit a new order - you will not be charged any brokerage if this is
the case. If your order is partially filled when it expires, you will only be charged the brokerage amount applicable
to the traded value, or the minimum whichever is greater. You should check your contract note to confirm if your
order has been partially of fully filled.
How quickly can I expect my order to be filled?
The time taken to fill an order depends on several factors, including:
- prevailing market conditions
- how many other buy or sell orders have been placed
- the order price, and
- the number of buy or sell orders in the market.
If your order is for a share that is infrequently traded, it could take longer to fill and could expire at the end of
the day without being filled. If this happens you will need to place a brand new order – note: no brokerage is charged
on orders that expire without being filled.
Once your order has been filled, we will forward you a contract note, via email.
When I sell shares how long will it take to receive the money?
We will credit your National Bank nominated account three business days after execution of the order.
When I buy shares when does settlement occur?
We will debit your National Bank nominated settlement account three business days after execution of the order.
Can I do a 'contra' between a buy and a sell order?
We are unable to contra, or off-set, buy and sell trades that complete on the
same day. US and UK shares cannot be sold until after settlement date for the
buy trade i.e. three working days.
What bank accounts can I trade from?
You can only trade from The National Bank transactional account you have authorised National Bank Share and Bond Trading
to Direct Debit from. To change this account you will need to complete another direct debit form. Please note you can
only have one account loaded at any one time.
Download the direct debit form
to change your funding account for trades.
Am I able to settle my US custody trades in USD, or my UK custody trades in GBP?
At this stage we are unable to offer this service. In the future, we may introduce a service where you can pay for US
trades in USD and UK trades in GBP, when this is available we will advise you. However at this stage you must settle
your US/UK custody trades in New Zealand Dollars. When a trade occurs our settlement staff will direct credit/debit
the settlement account to/from your National Bank New Zealand Dollar account.
Foreign exchange charges will be incurred on all foreign securities transactions that require funds to be converted
to or from NZ dollars.
For the purposes of conversion into or from one currency to another, the exchange rate used is a midpoint rate plus
a currency conversion margin of an amount up to 0.89% of the overseas currency amount.
The midpoint rate is derived from wholesale buy and sell rates quoted by foreign exchange
market participants and which are compiled by a supplier of financial market data.
Additional Info
Do I have access to research and news for US/UK companies?
Our system does not support US/UK research feeds or news feeds at this time.
Which American (US) or British (UK) stock markets can I trade shares on?
| American (US) | NYSE, NASDAQ and AMEX |
| British (UK) | LSE |
Is there a restriction on the American (US) or British (UK) instruments (stocks) I can trade in?
| |
If you are a new customer to Share & Bond Trading |
| A. |
We will only provide quotes and the ability to buy/sell the top 500 stocks (by Market Capitalisation) on NYSE, NASDAQ
and AMEX and the top 200 stocks (by Market Capitalisation) on LSE. |
| |
If you transitioned from Online Share Trading to Share & Bond Trading |
| B. |
We will provide quotes and the ability to buy/sell the top 500 stocks (by Market Capitalisation) on NYSE, NASDAQ and
AMEX and the top 200 stocks (by Market Capitalisation) on LSE. |
| C. |
We will provide quotes and the ability to SELL any stock listed on the NYSE, NASDAQ, AMEX, OTCBB, Pink Sheets or
LSE that is already part of your portfolio and that is subsequently transferred to our custody service.
You will not be able to BUY additional shares if any of your stocks are not top 500 (Market Capitalisation) in the
US or top 200 (Market Capitalisation) in the UK. |
|
|
|
