The ASX has communicated to all market participants of an industry-wide ASX settlement failure that occurred on Friday the 20th of December. This failure has meant that CHESS was not able to complete market settlement on Friday and has deferred settlement to Monday the 23rd of December. For those clients who had sell trades settling on Friday we have ensured those sale proceeds have been made available to you for trading on Monday. Stock delivery for clients who had buy trades settling will need to wait until Monday before the shares become available to sell. We apologise for any inconvenience this ASX outage has caused.
How are corporate actions handled for international stocks?
For international securities, nabtrade will make corporate action elections when required for all client holdings. You will not be able to participate in voting of corporate action elections as any election will be made by nabtrade on all customers’ behalf.
To avoid unexpected cash commitments on your behalf nabtrade will usually elect to receive cash or stock (in that order) by default for corporate actions where this is appropriate.
As corporate actions may have significant variations, each will be considered on a case by case basis.
Any funds received as a result of a corporate action such as a dividend will be paid in AUD into your nominated cash account.
