Well i know if you engage foreign stock exchange trading via commsec you can open a foreign exchange bank account to settle share trades this way - prevents the need to convert which can take some time (recommended as unlike the ASX settlement which takes T + 3 days) the US is a T +1 settlement date for all sharetrades - the ASX is seriously lacking in this regards and i would like to see T+1 electronic clearence of share trades as if i sell some shares for some spending money it takes 3 bloody days to settle - compared with international best practice this is completley unacceptable - i can trade US shares and get the cash from a sale within 24 hours instead of 72 hours locally.
WIth the ASX profits implementing this new technology platform wouldnt take much but it has always been backwards and conservative in its market set up so this is not surprising either.
