No. Payment with cash is not permitted.
amscot Online clients will automatically have the funds owing for stock purchases withdrawn from their cash management account upon settlement.
amscot Phone clients are required to pay using any one of: BPay, cheque or direct debit.
It is important to know that, when they place their purchase order with amscot, clients need to be totally confident they can meet their payment obligations on the settlement date.
Yes, amscot Online orders can be placed, deleted or amended online by you at any time. "After hours" orders will be referred to a State One operator for approval before the market opens on the following business day.
amscot Phone orders can be placed on ASX business days during (and one hour either side of) the ASX market hours, which are 10am - 4pm Eastern Standard Time. Alternatively, an email may be sent at any time to: email@example.com, although it is strongly suggested that the email is followed up with a reminder phone call.
No, you will only be charged if and when a part of your order is traded.
Please note that you may be charged the minimum brokerage on your order even when a very small portion of your order has traded
Your orders will be purged from the market when:
Under ASIC Market Integrity Rule 3.1.1 (Competition in Exchange markets) 2011, amscot is required to take reasonable steps to obtain the best outcome for its clients when handling and executing orders in a multi market environment. This policy sets outs amscots approach to providing the best outcome for its clients and is available on our website at www.amscot.com.au.
Now that we are connected to the Chi-X Australia trading venue, we may automatically send all or part of your order to alternative trading venues to be executed to ensure you achieve the best outcome possible, in accordance with our Best Execution Policy.
For any other queries you may have about the Best Execution Policy, please call us on 1800 308 305
A cross trade occurs when a broker executes an order to buy and sell the same security at the same time, in which both the buyer and seller are clients of the broker.
A Cross Trade is represented by XT in the course of sales. If your order has been cross traded you will be able to view this on your confirmation contract note where it will be stated as 'Crossed'.
NBBO is an acronym for National Best Bid and Offer. The national best bid price is the highest price that all buyers are willing to pay for a particular stock, regardless of the trading venue it is being published on. Similarly, the national best offer price is the lowest price that all sellers are willing to accept for a particular stock.
As bids and offers may differ between trading venues, the NBBO will be used to describe the Best Bid Price and Best Offer Price across all trading venues.
For example, if the Bid/Offer on ASX TradeMatch is $1.00/$1.02 and the Bid/Offer on Chi-X
Australia is $0.99/$1.01, the Bid/Offer or NBBO will be
You will see “NXXT” in the course of sales. NXXT is an NBBO Crossing (crossed trade) that has resulted from matching a buyer and a seller of a particular stock, and the buyer and seller are clients of the same broker. Using the ASX or Chi-X trade reporting facilities the broker is able to notify the market that a crossed trade is being executed at the current NBBO price.
This type of trade typically occurs when a broker has managed to automatically match an order with the order of another client of that particular broker through the broker’s internal Crossing System.