Trading and Investment FAQ

 

·         When do I have to pay for my Buy Trades?

·         When do I receive payment for my Sell trades?

·         What commitment do I need to make in respect of the software and data fee monthly charges?

·         Do I need to provide ID?

·         Do I need a CMT account?

·         How do I open a CMT account?

·         Do I need to provide an additional ID for my CMT account?

·         What correspondence will I receive for my CMT account?

·         What effect does buying shares have on my CMT account?

·         Do I need to make an initial deposit to my CMT account and maintain a minimum balance?

·         What effect does selling Shares have on my CMT account?

·         How do I deposit money into my CMT account?

·         How do I withdraw money from my account?

·         Will I receive any statements for my CMT?

·         Will my CMT account earn interest?

·         How long will it take for my trading account to be opened?

·         Will I be notified once my account has been established?

·         Is my password case sensitive?

·         What is CHESS?

·         What is a HIN?

·         Can I have different HINs with different brokers?

·         What correspondence will I receive?

·         How do I sell my shares?

·         How do I transfer my holdings from another broker?

·         Can I just transfer some of my holdings?

·         Can I sell Issuer Sponsored stock?

·         How do I convert Issuer Sponsored stock to CHESS?

·         What if the Issuer Sponsored holding is in a slightly different name or address?

·         Do I receive an account statement for my trades with Minc?

·         Can I receive my confirmation in the mail?

 

 

When do I have to pay for my Buy Trades?

 

You must have cleared funds available in your CMT account to cover the total costs of the transaction when your Buy order is placed on the market. Settlement will occur on T+3 direct from your CMT account. During this time, these funds cannot be withdrawn from your CMT account for other purposes.

 

When do I receive payment for my Sell trades?

 

Your CMT account will be credited on the 3rd ASX business day following the trade.

 

What commitment do I need to make in respect of the software and data fee monthly charges?

 

These charges are payable monthly in arrears, with the charge being deducted from your CMT or requested from your margin lender.

 

Do I need to provide ID?

 

As a part of our account opening procedures, you and all parties related to your account are each required to provide certified copies of 100 point identification when lodging the new account application. If you are authorising a third party to act on the account, they will also need to provide ID.

 

Do I need a CMT account?

 

Yes, a link to an approved CMT account is required if you wish to trade shares through Minc. The account will need to have cleared funds available before a Buy order can be placed.

 

How do I open a CMT account?

 

We have provided you with a Product Disclosure Statement (PDS) for the Macquarie Cash Management Trust account and Adelaide Managed Funds account with accompanying application forms. Once you have completed our online application process, and selected your choice of CMT provider, the relevant application will be pre-populated for your signature(s).

 

Do I need to provide an additional ID for my CMT account?

 

Please provide us with the certified copies of ID as stated in the Minc application. We will then forward all relevant information to Macquarie to open the Cash Management Trust account or to Adelaide Bank to open the managed funds account.

 

What correspondence will I receive for my CMT account?

 

You will receive an email from us and a letter from Macquarie Bank or Adelaide Bank stating your BSB and account details. You will also receive statements on a quarterly basis for your CMT account.

 

What effect does buying shares have on my CMT account?

 

Before you can place a buy order for shares using our trading facility, you will be required to have sufficient cleared funds in your CMT account to cover the complete cost of the purchase including brokerage.

 

Do I need to make an initial deposit to my CMT account and maintain a minimum balance?

 

You do not have to have a minimum holding balance, nor do you have to make any initial deposit into the account. Please disregard any information in the CMT Product Disclosure Statements that state you need an initial investment or minimum balance.

 

What effect does selling Shares have on my CMT account?

 

When you sell shares via the trading platform, the proceeds from the sale will be credited directly to your CMT account on the 3rd business day after the trade (not including any ASX non-settlement days).

 

How do I deposit money into my CMT account?

 

Once your CMT account has been established, you will receive details of the account number and also confirmation of deposit methods. These include BPay, Internet banking and deposit through branches.

 

How do I withdraw money from my account?

 

You can withdraw money from your CMT account by EFT or BPay or by direct fax to Macquarie or Adelaide Banks.

 

Will I receive any statements for my CMT?

 

You will receive quarterly statements from your CMT account detailing the movement of funds in and out of your account, and any interest earned and credited to your account. You can also view the details of your CMT account at any time online.

 

Will my CMT account earn interest?

 

Yes, your account will earn interest at the market rate applicable. Interest is calculated daily in the account and credited quarterly.

 

How long will it take for my trading account to be opened?

 

Once your application is received and all paperwork is deemed to be compliant, your account will be opened within 48 hours. If for some reason there is a problem with your application, you will be contacted to discuss where your application is deficient.

 

Will I be notified once my account has been established?

 

Yes, you will receive a welcome email outlining account number and details of how to obtain your log in details.

 

Is my password case sensitive?

 

Yes, you need to input your password in the case provided.

 

What is CHESS?

 

CHESS (Clearing House Electronic Subregister System) is the computerised share registry and settlement system operated by ASX. It manages the share ownership records of ASX listed companies.

 

What is a HIN?

 

A HIN (Holder Identification Number) is the number by which CHESS identifies individual clients when they become sponsored by a particular broker. You will be issued with a HIN when your account is opened. All of the shares you purchase will be consolidated under your HIN.

 

Can I have different HINs with different brokers?

 

Yes, although you would not be able to sell holdings through Minc if they are held under a HIN with a different broker.

 

What correspondence will I receive?

 

Each time you trade, you will receive a confirmation from Berndale Securities (our Third Party Clearer). This will be received by email. Each month you will also receive holding statements from CHESS, detailing any change in your holding of an individual stock during the previous month.

 

How do I sell my shares?

 

Before you can sell your existing shares, you need to transfer or convert them to CHESS sponsorship. To transfer securities from another sponsoring broker to our sponsorship, you will need to complete the change of sponsoring broker form and fax to us at 02 8965 0460. Once the conversion or transfer into Berndale is complete, you will be able to view your holdings through the trading platform. You will then be able to sell these shares through us online. Any further purchases will automatically be registered on CHESS and will therefore be available for immediate sale though us.

 

How do I transfer my holdings from another broker?

 

When you open your account with Minc, it is possible for Minc to transfer you HIN from your present broker. This means that all holdings under that HIN will be transferred to Berndale Securities (this process could take up to 48 hours). If there are any outstanding orders or settlements with your present broker, the HIN cannot be transferred until all outstanding orders have been settled. You would need to complete the Sponsoring Broker transfer form to affect this transfer. It is preferable for you to provide a copy of one of your CHESS holding statements to ensure that we open the account in exactly the same name and address as your present registration. This will allow a smooth transfer of holdings.

 

Can I just transfer some of my holdings?

 

It is possible to transfer selected holdings by using the same form as above and ticking the box marked "Sponsored Holdings of Financial Products listed below" and listing the stocks and quantities you want transferred.

 

Can I sell Issuer Sponsored stock?

 

No, the stock must be converted to your chess holdings before you can sell it.

 

How do I convert Issuer Sponsored stock to CHESS?

 

You will need to fax Minc a copy of your Issuer Sponsored statement to 02 8965 0460 with a request to convert to CHESS. Note: The Issuer Sponsored holding must be in exactly the same name and address as that of your CHESS Registration details with Minc.

 

What if the Issuer Sponsored holding is in a slightly different name or address?

 

You will need to contact the relevant Share Registry and have them make the necessary changes. When you receive a new Issuer Sponsored statement with the correct details, this can be faxed to Minc on 02 8965 0460 for conversion.

 

Do I receive an account statement for my trades with Minc?

 

After each trading day, if you bought or sold securities, you will be sent a confirmation from Berndale Securities indicating the quantity and price as well as the brokerage of the trade per stock.

 

Can I receive my confirmation in the mail?

 

No, we only dispatch confirmations by email.