The introduction of our new US/UK Custodial Trading Service will give you access to a whole new world of investment potential.

Although new adventures are very exciting, it's not always smooth sailing when you're in uncharted waters.

So with that in mind, we've put together a simplified list of the main changes that you will encounter as a new US/UK Custodial Trader.

Note: Due to the complications created by tax treaties between countries, custody and custody trading is only available to New Zealand residents.

After reading the list below, please refer to our FAQ section and to our updated Terms and Conditions (available here) for more details, or feel free to contact us directly:

FREE.0800 805 777
help@directbroking.co.nz

WHAT'S THE SAME?
Placing an order over the phone or internet

If you trade through the Direct Broking website or over the telephone, the act of placing a US/UK custody order is exactly the same as placing an order for a security listed in New Zealand or Australia.

The difference is that you do not need to provide a shareholder number to buy or sell shares that are held in custody - simply pick the stock, enter your quantity and price limit and click "Go".

WHAT'S NEW?
Restrictions on the securities that you can trade in

We will provide quotes and the ability to buy/sell certain stocks, currently:

US markets	top 500 stocks (by market capitalisation) on NYSE, NASDAQ and AMEX
UK markets	top 200 stocks (by market capitalisation) on LSE

Minimum Investment Requirements

US$500.00 / EUR$500.00 / GBP$500.00 depending on the currency the instrument is traded in (for both buys and sells)

- or -

US$0.00/EUR$0.00/GBP$0.00 in the case of a sell

The time of day your custody order is submitted to market

For the time being there will be one bulk upload of all US/UK orders to market each day occuring at 6:00pm NZT.
This makes the product unsuitable for anyone day-trading on these markets. It is our intention however, to review this policy as demand for the service increases.

Prior to 6:00pm NZT	You may submit new orders and amend orders. These orders will be submitted into the current Market day (soon to open).
6:00pm - 6:30pm NZT	No new orders or amendments can be accepted for US/UK markets. Direct Broking submits new orders to the US/UK markets.
After 6:30pm NZT	You may submit new orders and amend orders. These orders will be submitted into the next Market day.

The ability to contra, cancel and/or amend a custody order

We are unable to contra ("off-set") buy and sell trades that complete on the same day.

You can only request to cancel or amend an order prior to it being submitted into the market at 6:00pm NZT.

You should be aware that becuase of the process involved, cancellation or amendment cannot be guaranteed.

We cannot amend or cancel your order after 6pm.

The duration of custody orders

US and UK custody orders are "GOOD FOR A DAY" - they expire at the end of the US/UK trading day.

The ability to settle US custody orders in USD or UK custody orders in GBP

At this stage we are unable to offer this service. In the future, we may introduce a service where you can pay for US trades in USD and UK trades in GBP, when this is available we will advise you. However at this stage you must settle your US/UK custody trades in New Zealand Dollars.

Refer to our Terms and Conditions for any conversion fees that may apply.

START A NEW ADVENTURE TODAY

Direct Broking's US/UK Custodial Trading Service gives you access to the largest markets in the world.

It will also save you time, money and a mountain of paper work.

Take the plunge and start using our new Custodial Trading serivce now:

Already a client with Direct Broking?	Login to your account here.
Haven't opened an account with Direct Broking?	Complete an online registration form here.


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