Today I saw a trade with CHI-X on SPL with the code
NX XT
According to the ASX definition
new - ex interest (cross trade)
Applies to Interest Rate Market securities. It indicates that the purchaser of the securities via the prospectus has the right to the first interest payment even if they subsequently sell the securities prior to the Ex Interest date. The purchaser of securities on a New Ex Interest basis is not entitled to the first interest payment. Securities are traded on a New Ex Interest basis from the security's first day of quotation until the first interest payment has been paid.
Can anyone explain to me in layman terms what exactly does this mena
