Step 1 - Check your account balance
Select ‘My accounts’ and ‘balances’ to check the balance of your Cash Management
Trust account (CMT). If you do not have sufficient funds in your CMT to cover your
investment, you will be charged additional fees
For instructions on how to top up your CMT,
click here.
Step 2 - Select your investment
Select ‘Buy’ or ‘Sell’ and choose the exchange on which you wish to invest. New
clients can select from the NZX or the ASX (additional
registration procedures apply)
Then enter the market security code or a partial company name to search the exchange
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- Quantity - The number of shares you wish to purchase or sell
- Price limit - If buying, the highest price you are willing to pay. If selling,
the lowest price you are willing to receive
- At current sell price - If you check this box, you agree to accept the current
market price. This means if you are buying securities, you agree to accept the current
‘sell price’. If you are selling securities, you agree to accept the current ‘buy
price’
- Expiration - This allows you to set the maximum time period for the fulfilment
of your order. You can choose between ‘until cancelled’, ‘until a specified date’,
or ‘until end of market day’. We will hold your order open until your order has
been filled, or the specified period has expired, whichever happens first
- FIN number - If you are selling securities on the NZX, you may be asked to
enter your Faster Identification Number (FIN). This is a 4-digit pin number that
was issued to you when you first purchased shares on the exchange. If you have forgotten
your FIN, please contact the share registry that issued the shares (Computershare or Link Market Services)
- If you’re buying or selling on the ASX and your holdings are not CHESS-held,
you’ll have the option to enter your SRN (Shareholder Reference Number), excluding
the letter ‘I’ in front. You can also choose between settlement currencies. If you
do not specify, the currency will default to NZD
- If your sell order trades but you don’t own sufficient shares to cover what you have sold, this is called short-selling. Short selling is not allowed and if this occurs we may buy back your holding at any time. You will be responsible for brokerage, losses and any associated costs and also forfeit any profits
Please note, we cannot guarantee full execution of your order at the current buy
or sell price
All orders are subject to market conditions at the time of placement. The liquidity
of your chosen security may be affected by factors such as the available quantity,
competing orders in the marketplace and how often the security is traded in the
market.
Like all market participants, Direct Broking is subject to regulatory obligations,
including obligations to maintain an orderly market and to manage any potential
conflicts of interest. In certain cases, this may require your order to be reviewed
by one of our expert operators
Step 3 - Confirm your order
Before you place your order, please check that the details are correct Any errors
will impact the speed of execution of your order, or could result in your order
being rejected:
- Have you entered the price in cents, not dollars? For example, 250 not 2.50
- Is the quantity correct?
- Does your order meet minimum holding requirements?
- If buying, do you have sufficient funds in your CMT? Does your order meet minimum
holding requirements?
- If selling, do you hold sufficient securities to fulfil the order? Have you entered
a valid FIN?
- If the order is correct, click ‘confirm’ to proceed with the transaction, or ‘change’
to edit the details.
What happens next?
Sometimes your securities may not all be purchased or sold at the same time. It
may take a few hours, days or weeks before your entire order can be executed. It
is important to keep an eye on your order, especially as the expiration date draws
closer. Brokerage fees will be charged on the order as a whole, so you will not
be charged separately for each partial fulfilment
Once all of your shares have been purchased or sold, we will email you a contract
note for your records, and as confirmation that your order has been successful
The contract note will specify the shares or securities you have purchased or sold,
the quantity, the price per share, the brokerage charge and the total cost (for
buy orders) or total credit (for sell orders)
Whenever you buy or sell shares, you will receive a ‘statement of holding’ from
one of two New Zealand share registries, Computershare or Link Market Services.
This document provides confirmation of your updated share ownership and also contains
your CSN
If this is your first investment, you will also be issued with your FIN. Your FIN
should be treated like a pin number on your EFTPOS card and kept confidential. You
will need your CSN, along with your FIN, in order to sell the shares
Congratulations! You’ve just completed your first online transaction with Direct
Broking
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