Frequently Asked Questions (FAQ's)
Fees and Charges:
What are the costs involved in Trading with PariTrade?
You'll need to pay ASX royalties and a software license fee to trade via the Pulse platform. These charges and optional extras can be viewed on the Pulse pricing page.
Are there any monthly fees?
Yes. The cost of your Pulse subscription.
Does is cost anything to set-up a trading account with PariTrade?
No. The set-up of a trading account is free. There is a minimum starting balance on the Cash Management Account of $20,000.
Trading:
Do I need to use the Pulse platform to execute my orders?
Yes. You need to have a valid subscription and a linked trading account to place orders.
What type of trades can I place via PariTrade?
You can trade ordinary shares, other types of shares, ASX listed options and warrants. You can find our more on the product offering page.
Can I place an order into the market after hours?
You can place an order into the market between the hours of 7am - 6pm EST. The market is open from 10am - 4pm EST weekdays.
What is Straight Through Processing (STP) and how does it work?
STP is when orders are placed directly into the market providing that the order meets specific criteria set on the account. It allows trading clients to place orders without operator intervention, making it as efficient as possible. If your order breaches the specific criteria, a reason will be given on your PULSE order pad. You can amend the order to suit the criteria. Example, not enough funds in your trading account.
How long will my orders stay in the market?
You can either place a ‘good til cancelled’ or a ‘day only order’. Day only orders will be cancelled at the end of the day if they’re not filled. Good til cancelled orders don’t have a time limit on them. However, they maybe purged from PULSE / the ASX if:
- The security has been suspended.
- The security has been reconstructed.
- The security has been delisted.
- The security’s basis of quotation has been changed to an ex basis. E.g. ex-dividend.
Settlements, Holdings and Payments
What is the settlement time frame for shares?
The settlement time for shares traded on the ASX is trade day + 3 days (T+3). This is the standard settlement process for shares purchased and sold.
What is CHESS?
CHESS stands for Clearing House Electronic Sub-registry System. It’s a system used by the ASX to manage ownership of ASX listed companies.
What is a HIN?
HIN stands for Holder Identification Number. Your HIN is the number that CHESS identifies clients when they become sponsored by a broker. Once your account has been opened, you will be issued with a HIN from PariTrade.
What forms of payments are available to settle stock positions?
When setting up an account with PariTrade, you will also be setting up a Macquarie CMT/CMA that will be linked to your PULSE platform. Trades will be settled on settlement date through this account.