Trading in listed securities

Transcription

1 Trading in listed securities Adviser user guide Contents Background 2 Setting up trading access 2 Trading through offline panel brokers 3 Accessing the online trading site 3 The trading home page 4 Searching for a client 4 Placing a trade 5 Previewing and clearing orders 7 Amending orders 8 Cancelling orders 9 Submitting your order 9 Price information 10 Making corporate action elections 11 How to log out 12 Can t access the system? 12 Who to contact 12 1

2 Background Oasis Asset Management Ltd launched a new online direct share trading service on 21 June 2010, which offers real time trading and full web-based corporate action management. This user guide is designed to show you how to use this service and trade on behalf of your investors. The guide covers shares account establishment, trading and corporate action information. For more information on the share offering and its features please refer to the relevant Product Disclosure Statement, Financial Services Guide or contact Client Services. Setting up trading access MoneyOne adviser and share trading access Form updated 19 July 2010 Purpose of this Declaration The purpose of this declaration is to provide you with access to the online administration and share trading system provided by Oasis Asset Management Limited (Oasis) in relation to specific superannuation products and Investor Directed Portfolio Services (together Financial Products ) issued by Oasis Fund Management Limited (Trustee/Operator). This declaration also provides representations, warranties and indemnities from you to Oasis in relation to your conduct in using this online administration and share trading system, which should be read in line with the terms and conditions of access to the Website (Terms and Conditions), which can be accessed via or by contacting Client Services at contactus@oasisasset.com.au Further details on Oasis and the online administration and share trading system can be found in the relevant Financial Product s disclosure document. Please complete this form in BLOCK CAPITALS using dark ink. STEP 1. Primary adviser access request Include details of your adviser code and login code. Adviser name: Adviser code: Please tick one: New access request OR Update access Login code: Share trading # *: share trading access no trading access (view only) share you have multiple adviser codes linked to the one login code, share trading will apply to all adviser codes. # If STEP 2. Linked user access request Office use only adviser code: A Complete this form to establish or amend your access to the online administration system provided by Oasis Asset Management Limited and establish your access to share trading on behalf of your clients. Include details of any office staff or advisers to be linked to the adviser code at Step 1 and provided with MoneyOne access. Applicant 1 name: User type: office staff adviser (please provide login code) Share trading*: share trading access no share trading access (view only) (office staff only) Login code: Applicant 2 name: User type: office staff adviser (please provide login code) Share trading*: share trading access no share trading access (view only) (office staff only) Login code: Step 1 Ensure that you have MoneyOne Online access. If you do not please contact Client Services, who will arrange this. Step 2 Complete the MoneyOne adviser and share trading access form. This form not only allows you to establish share trading for yourself and/or office staff, but also to nominate your office staff to have trading or view only access to your investors accounts. If you have multiple adviser accounts with one log in code, share trading will be available on all adviser codes. If you have a corporate account you will need to provide the adviser name who will be using the corporate account log in code. All other advisers and office staff should have their details provided in Step 2 linked user access request. Gaining access to share trading will take approximately three working days once we have received this form. * If you are requesting share trading access to multiple adviser codes please note that share trading or view only access must be identical across all codes. If conflicting information is received you will be granted view only access to all adviser codes. This step continues on the next page 1 ABC Superannuation & Investment Share trading facility and adviser authority Form updated 13 August 2010 Questions? Call Client Services on Oasis Fund Management Ltd (Trustee/Operator) ABN: AFSL: RSE Licence: L Oasis Superannuation Master Trust (Trust) ABN: RSE Registration: R Oasis Investor Directed Portfolio Service (IDPS) Complete this form to establish a HIN and share trading facility for your account and authorise your adviser to transact in listed securities and managed investments on your behalf. Step 3 Complete the Share trading facility and adviser authority form for any existing investors for whom you wish to perform share trading. For new investors, complete the Listed securities nomination and dividend election section of the individual Application form. Please complete this form in BLOCK CAPITALS using dark ink. STEP 1. Investor s details Account number: (if known) Account type: Superannuation OR Pension OR Portfolio Service Title: Ms Other: Mr Mrs Miss Surname: Given names: Residential address: (mandatory) address: State: Postcode: STEP 2. Dividend election When completing this step, note that the option you nominate (tick one box only) will apply to all your dividend paying listed securities. Cash Account All dividends from listed securities will be deposited in your Cash Account (default)* OR Dividend Reinvestment Plan All dividends from listed securities (where applicable), will be reinvested in the relevant listed security ** * If you have not provided any instructions or provided conflicting instructions, the Trustee/Operator will apply the default and deposit all dividends in your Cash Account. ** Dividends will be reinvested for those listed securities where a dividend reinvestment plan is available. Where this is not the case, dividends will be deposited in your Cash Account. STEP 3. Investor declaration and authorisation I acknowledge that I have received and read: (for existing members of the Fund/IDPS as at 21 June 2010) the notice titled New Direct Shares Service (for all members who join the Fund on or after 21 June 2010) Part 1 of the current Product Disclosure Statement, or (for all members who join the IDPS on or after 21 June 2010) the Information and Financial Services Guide, which discloses the fees and features associated with the shares service and trading online. Where I have an adviser, I authorise my adviser to transact on my behalf in relation to the Fund or IDPS product, including transacting in listed securities and managed investments. I acknowledge that where my adviser provides instructions to the Trustee/Operator, the Trustee/Operator will act on those instructions without consulting me. Investor s signature: Date: / / STEP 4. Postage, fax and details Please post this form to: ABC, Locked Bag 1000, Wollongong DC NSW 2500 or fax: (02) or contactus@abcwealthsolutions.com.au 1 2

3 Trading through offline panel brokers In addition to online trades through the default broker, CES, trades may be actioned through the approved offline panel brokers: JB Were RBS Morgans Lonsec Bell Potter Shaw Stockbroking Morgan Stanley Smith Barney EL & C Baillieu Stockbroking Ltd E*TRADE Points to note when using offline panel brokers End-of-day data feeds will be sent to Oasis to update investor accounts and confirm trades, where required. All transactions executed through an offline panel broker will incur a third party settlement fee of $20.50 on top of any negotiated brokerage with the broker. There are no approved security checks when trading with an offline panel broker. The approved security list is not available on the trading website but is available on MoneyOne Online. Please note that the adviser may be liable for any trade not considered an allowable security. The trustee may instruct a sell down. The adviser/investor is liable for transaction costs and no compensation for market movement costs will be considered by the administrator or trustee. A manual handling fee of $20.50 is charged when settlement requires manual intervention by CES. Any fees incurred for failed trades will be charged back to the adviser. Accessing the online trading site Login to MoneyOne Online using your adviser login code and password. If you have been setup for share trading, you will be a presented with a Share Trading link in the menu options on the left-hand side of the screen. Once you have clicked this link, you will automatically be directed to the trading portal. No separate login code or password is required. If this link does not work, please contact Client Services for assistance. 3

4 The trading home page From trading home page (below), you can choose from a range of different tasks, such as obtaining stock prices, selecting your investors for trading, participate in certain corporate actions, obtaining market commentaries and reviewing a selection of stock and market-related information. Searching for a client Client Search enables a search by investor account number or by investor name. Alternatively, a link is provided to view all clients. Only those investors who have an individual HIN established against their account will appear in this screen. To establish a HIN against an existing member account that is not already invested in listed securities, you will be required to complete a Share Trading and Adviser Authority form. New members can establish a HIN by completing Step 4 of the Application form. Type your investor s name into the Client Search field shown above and click Search to be taken to the following pop-up screen: 4

5 There are three different functions you can perform for an investor from this window: Clicking on the Graph icon will take you to the investor's holdings page, showing all registered CHESS holdings for that investor. Clicking on the Down arrow icon will take you directly to an order entry screen, allowing you to place an order for the selected investor (order entry screen shown below). Clicking on the Face icon will take you to an investor details screen, showing a selection of information relating to that investor. Placing a trade Available cash balance Before placing a trade, it is important to ensure that your investors have available cash in their existing cash accounts to place a trade. You can view a member s cash holdings via the cash liquidity report, currently available on MoneyOne. The available cash amount includes the following: Standard Cash Account minimum Plus three months insurance premium (super) Plus three months pension payments (pension) Plus three months regular withdrawals (IDPS) Up-to-date information can also be obtained from the trading site, which provides useful intra-day information on purchases or sales that have already gone through. Tip diversification guidelines You need to be aware of the diversification guidelines for superannuation and pension investors, as follows: No more than 20% of an investor s portfolio may be invested in a single listed security. No more than 60% of an investor s portfolio may be invested in all listed securities combined. In the situation where a breach has occurred, a query will be raised to notify you of the breach. 5

6 Placing an order Click on the icon. The Place Order screen will display: Input your order details including: Order type select Buy or Sell ASX code Quantity Price ($) enter Limit Price or accept the Market Price by ticking the At Market checkbox (refer page 10 for more information about At Market orders). Order duration defaults to the maximum 21 days. You can change it to anything less than 21 days by selecting the appropriate date if desired or select Today Only. Order placer simply input the name of the person attached to the login code ( Order taker will also default to this person). 6

7 Previewing and clearing orders When you are satisfied with the order, click on Preview Order. This will display your order information for a final check before sending to market. Alternatively, you can select Clear, should you wish to restart the process again. Tip non-approved securities For superannuation and pension investors, only approved securities can be purchased. Trades through the CES trading interface do not allow the purchase of non-approved securities. The full list of approved securities is available for viewing on the Investment Authority. Consult the Investment Authority or use the pre-trade validation tool on MoneyOne to determine if the security is approved. 7

8 Amending orders You can amend any orders that have not been completed by selecting the Amend option on the right-hand side of the Review Order Details screen. When you click on the Amend button, an Order Amendments screen will appear, allowing you to alter any details of the trade. Once the amendment has been completed, you can select Preview Order to review the amended trade and submit the order to confirm the trade. Example amending orders On the page below, you have the opportunity to amend any of the details you have entered before submitting your order. 8

9 Cancelling orders You able to cancel any orders that have not been completed by selecting the Cancel option on the right-hand side of the Review Order Details screen. It cannot be guaranteed, however, that deletions made in this screen will be successfully applied to an open order. This is due to timing issues between the website and the market, for example, while you are completing this screen, the order may be processed in the market. Disclosure is contained at the bottom of the screen to notify users of this. Please read the disclosure carefully. We suggest that advisers contact Client Services to confirm cancellation of online orders. When you click on the Cancel button, a Cancel Order screen will appear. The user name is required in the Order Placer field. Once the required fields have been completed, you must select Confirm Cancellation at the bottom of the screen in order to cancel the order. If you need to change any details of the order, click on Go Back and re-enter the appropriate details. Submitting your order Pressing Submit Order from the following screen will send your order through to the market for execution in a market order. Once you have submitted the order, you will be presented with a Trade Accepted screen showing your order number. A warning will be given if the order has been referred to a designated trading representative or the trade has failed. 9

10 Price information You can select from two options using CES, these being At Market or At Limit. 'At Market' orders may only be placed while the market is open. It is important to note that there is a slightly different method of placing market orders than what some advisers may be used to. CES processes requests as Market at Limit orders where the market order converts to a Limit order at the current market price. Example Market at Limit order An adviser, Steven Stevenson, wants to place an order for his investor, Bob Brown, to purchase 500 CBA shares at market. Market depth is as follows: Sell (offer) Price Quantity $ $ $ Once Steven selects the Submit Order button, the system will locate the lowest price at which someone is willing to sell. In this example, it is 250 shares at $ At this point, the system will convert the Market order to a Limit order, based on the price that the initial purchase was transacted, being $ If there are no other shares trading at $38.35, the transaction is only partially filled and an open order for 250 shares at $38.35 would remain. Another alternative for advisers is to check the market depth prior to placing the order and selecting an At Limit order for an alternative amount to ensure the trade is completed immediately. For example, in the above case, you could select an At Limit order of $ This would enable the investor to receive the first 250 shares at $38.35 and the remaining 250 shares at $ At Market order 'At Limit' orders can be placed at any time and limit the highest price that the investors will pay to buy or lowest price the investors will accept to sell. Example At Limit order Tip If you wish to sell an investor's entire holding in a particular stock, click on the Holdings screen instead of going direct to the Order screen. Once there, click on the quantity held and you will be taken to the order entry screen, with the Buy/Sell flag defaulted to Sell and the quantity to the investor s full holding. 10

11 Making corporate action elections Advisers will receive notification of corporate actions that can be actioned on behalf of an investor. Reminder s are also sent closer to corporate action close dates. On this screen, you will see a list of corporate actions applicable for your investors. To accept or decline a corporate action, please follow the below steps: Click on Adviser on the top of the screen and choose the Entitlements list. Click on stock in which you wish to participate. Entitlements will display a list of members in that corporate action. From this screen, you can decline or accept rights followed by submit. When electing to participate in a corporate action, you have the option of either electing or rejecting on behalf of all investors or electing participation for individual investors. Where no election is made, the default action will apply. 11

12 How to log out You can exit from the online share trading website by selecting the Log Out tab from the menu at the top of the screen. The following screen will then appear: Can t access the system? In the situation where you are unable to access the trading site via MoneyOne Online, please contact Client Services. Who to contact For more information on the share offering and its features please refer to the relevant Product Disclosure Statement, Financial Services Guide or contact Client Services. 12