clearing suckers????, page-24

re: mistermoon...close to the turn? T+3 has been referred to on hc abit lately, sometimes totally irrelevantly imo.

For me, it has no real relevance in my buy & sells..
So maybe some of the people who refer to it on hc can answer your question...


cheers and I hope the below is of some help.


Settlement
Settlement of buy trades
Under current ASX rules, you are given three business days (referred to as T+3) from the date of purchase to make payment for any buy transaction. You must have funds available in your Funding Account, or alternatively available under your margin lending facility, to cover the total costs of the transaction when your buy order is placed on the market. A hold is placed on these funds in your Funding Account until settlement. During this time, these funds cannot be withdrawn from your Funding Account for other purposes.

Subject re: t4p...close to the turn?
Posted 04/08/05 11:34 - 50 reads
Posted by MisterMoon
IP 165.228.xxx.xxx
Post #669741 - in reply to msg. #669726 - splitview

Please excuse my ignorance, but can someone please quickly explaing the relevance of "T + 3", what it means, what is expected, how it relates??

Cheers
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Please Do Your Own Research.

My opinions are just that, not advice.