manipulation, page-22

Commsec is T+3 for settlement. However......
If you buy and sell the same day or the next day you will only get the nett proceeds + or - ve applied on the T+3 day.
Example:
You can in fact buy and sell in a 2 day period with no dosh in your settlement account and if you made a profit the profit only gets paid on day 3(or the losses charged if you lost money). Its not a straight T+3 affair.... I spoke to them regarding this very fact....