Westpac Broking Trading Guide

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					Westpac Broking Trading Guide
Your easy-to-use guide to trading over the internet and phone

Welcome to Westpac Broking
This guide is designed to help you find everything you need to know about how to use the Westpac Broking service – from making your first trade to reviewing your share portfolio. You’ll also find other trading and sharemarket information, as well as a glossary of commonly used terms.
As a Westpac Broking customer, you have exclusive access to a comprehensive research centre. Here you can keep an eye on the market with valuable company and market information, ASX stock recommendations, live company announcements, market commentary, price charts, consensus forecasts and more – and make informed investment decisions. Keep this guide handy, so you can refer to it whenever you need to. Log on to broking to access these services day or night. Or call 13 13 31, Monday to Friday between 7am and 7pm (AEST).

What would you like to know?
Westpac Broking overview Buying and selling shares on the internet How to check, review, amend and cancel orders Accessing your trading and account information Trading Funds Accessing Free Research Accessing the Premium Research Centre Alerts Conditional Orders Exchange Traded Options (ETO’s) Integrated Westpac Cash Facility Integrated BT Margin Lending Telephone Trading Trading Rules Internet Rules ASX Information Other important things you should know Glossary Frequently Asked Questions Page 2 Page 8 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 27 Page 28 Page 29 Page 32 Page 35

To access these services any time, day or night, log on to and click on ‘Online Broking’. Or call 13 13 31, Monday to Friday between 7am and 7pm (AEST).

Westpac Broking overview
Trading online. You can place, amend or cancel orders via the internet. All orders are placed using Straight Through Processing (STP), including our Conditional Orders service. Plus, you’ll be able to get quotes, market depth, access company and market information from the Research Centre, review your trading history and order status, and much more. All of this is explained in more detail later in this guide. Logging on to Westpac Broking. When you first login you will be asked to change your password from the one provided in your welcome letter. We also recommend that you change your password regularly to enhance your account security. If you have lost or forgotten your password, call us on 1300 139 494. Navigating around the Westpac Broking website. Our menu options are found on the left hand side of the website. Each main menu has a number of sub-menu options. To expand these, just click on or hover your pointer over the main menu item and the sub-menus will appear. When you click on the main menu item the sub menu items will appear and the most popular page from this group will be displayed automatically. Westpac Broking homepage. Once you have logged on you will be presented with our homepage. This page contains lots of useful information regarding our services. From time to time there will be Service Announcements displayed towards the bottom of the page, keep an eye out for these as they contain important information regarding trading through Westpac Broking.


Up to the minute share price information at your fingertips. At just the click of a button, you can access the latest market information and: • Request an immediate share quote with up-to-the-minute prices and volumes. (Click on ‘Refresh’ to update the market information displayed.) • Get a snapshot of the market depth for a particular share. • View live company announcements as soon as they are released by the ASX. Check out market depth. Market depth is a snapshot of what is happening in the market of a particular security. You can view up to ten price points at which current buyers and sellers are prepared to trade. Free Online Research Centre. The centre allows you to access a broad range of information by entering a stock code which enables you to view key measures, a business summary and forecasts. Earnings charts can also be found in this section.

Trading over the phone. You can also call our Trading Room on 13 13 31, Monday to Friday between 7am and 7pm (AEST), to submit orders, receive quotes or if you have any questions regarding your trading account. What you can trade. You can trade in any Australian Securities Exchange (ASX) listed Financial Product including warrants, exchange traded options (ETOs), company options, unit trusts, investment companies, convertible notes, hybrids and renounceable rights. What it costs. There is no registration or ongoing subscription fee for Westpac Broking. You simply pay as you trade. Westpac Broking has two types of accounts – Integrated or Standard. Integrated accounts are those linked to an approved facility such as a specific Westpac cash account or a BT margin loan – preferential brokerage rates apply. Standard accounts allow you to settle to any bank account.


How to pay for your buy trades. You need to use the payment method selected on your application form. If you wish to change this, please call our Trading Room on 13 13 31. For your security, your Westpac Broking account must be linked to a bank account of the same name. Payments are due on settlement day. In most instances this will be three trading days after your order is executed. If you are trading ETOs, settlement is due on the next trading day after your order is executed. Your confirmation contract note will tell you on which date your trade is due to settle. If you are settling to an Integrated Westpac Cash Facility, funds from your cash account may be reserved upon order placement until settlement. Direct Debit. We will automatically direct debit your account on settlement day. On your application form, you will have nominated the account that you want these payments to be made from.

BPAY. If you selected BPAY as your preferred method of payment, your biller code is 49122. BPAY payments must be scheduled to be received by Westpac Broking at least one day prior to the settlement date. Please note that some banks’ BPAY processing times vary and your payment may not be received by Westpac Broking in time for settlement. If payment is not received by the settlement date shown on your confirmation contract note, late settlement fees will apply. If you’re already registered with Westpac Online Banking or Telephone Banking, you can use BPAY to settle Westpac Broking trades. Remember, you can change to direct debit anytime you want for a hassle-free way to pay for your trades. To arrange this, just call us on 13 13 31. BT Margin Lending. If you selected the Westpac Broking and BT Margin Lending integrated account as your settlement method, Westpac Broking will receive the funds directly from BT Margin Lending on settlement day.


What happens when shares are sold? When you sell shares, we’ll directly credit your sale funds into the bank account you nominated on your application form or into your nominated margin lending account. Offsetting buys and sells over different days (‘Contra’). This process is often referred to as ‘contra’. Westpac Broking may offset buy and sell trades made over different days of the settlement period. This generally makes it easier for you to manage the funds required to settle buy and sell trades. Application of our contra policy is dependent on your chosen method of payment. If you have chosen to settle buy trades via Direct Debit. Where buy and sell trades have the same settlement date, subject to subsequent trades being made, Westpac Broking will offset the respective amounts on the settlement date. If no trades are made in the subsequent two days, we’ll debit or credit the net amount from or into your nominated bank account on the settlement date. (You’ll find this date on your confirmation contract notes.)

If trades are made in the subsequent two days, your funds will be offset over those days as specified below: • If the net amount of your initial trades is a debit, any sell contracts that are due for settlement within the subsequent two settlement days will be offset. (To the value of the net amount.) • If the net amount of your initial trades is a credit, any buy contracts due for settlement within the subsequent two settlement days will be offset. (To the value of the net amount.) If you have chosen to settle buy trades via BPAY. Only where buy and sell trades have the same settlement date, will Westpac Broking offset the respective amounts on the settlement date. (You will find this date on your confirmation contract notes.) If the net amount of your trades is a debit, you’ll be required to BPAY us that amount by the settlement date. If the net amount is a credit, Westpac Broking will credit that amount to your nominated bank account. To view the confirmation contract notes included within a contra simply click on the contra amount within the site.


Contra examples:
If your method of payment is Direct Debit Trade day Trade day + 1 Trade day + 2 Trade day + 3 Trade day + 4 Buy $5,000 worth of stock Sell $8,000 worth of stock Buy $2,000 worth of stock Contra day (no payment) Receive $1,000 credit

Important information. Please remember that it is your responsibility to ensure that sufficient funds are available in your nominated bank account to cover any transactions that are due to settle. If payment is not received by the settlement date shown on your confirmation contract notes, late settlement fees will apply. How to contact us for assistance. For technical support when using the website and help, click ‘Contact Us’ to send an email or call 1300 139 494, Monday to Friday between 7am and 7pm (AEST). Security matters. The internet. For maximum security and privacy, every Westpac Broking online user is given a unique Customer ID – and a password which you can change online at anytime, or by contacting us on 1300 139 494, Monday to Friday between 7am and 7pm (AEST). We recommend that you change your password regularly and never share your password with anyone. To change your password online, click ‘Change Password’ under the Change User Details in the Service Centre. You’ll need your current password, your new password and verify this before you click ‘Update Password’. Your customer ID provides access to all accounts you are authorised to view.

If your method of payment is Direct Debit Trade day Trade day + 1 Trade day + 2 Trade day + 3 Receive $1,000 credit Buy $5,000 worth of stock Sell $7,000 worth of stock Buy $1,000 worth of stock

If your default method of payment is BPAY Trade day Trade day + 1 Trade day + 2 Trade day + 3 Trade day + 4 Trade day + 5 Buy $5,000 worth of stock Sell $8,000 worth of stock Buy $2,000 worth of stock $5,000 BPAY payment required Receive $8,000 credit $2,000 BPAY payment required

If your default method of payment is BPAY Trade day Trade day + 1 Trade day + 2 Trade day + 3 Trade day + 4 Receive $2,000 credit $1,000 BPAY payment required Buy $5,000 worth of stock Sell $7,000 worth of stock Buy $1,000 worth of stock


When trading, you are protected by 128-bit encryption. Online safety nets. There are checks in place to help you validate all of your trading instructions. Each time you place, amend or cancel an order, a confirmation box appears for your approval. Here’s how we make sure you do exactly what you intend to. Check 1. A preview appears on screen so you can confirm your order details. Check 2. A confirmation box appears to place the order. Check 3. There are a number of other messages and warnings that may be displayed when placing an order, it is important that you read and consider them. It is also possible that your order may be rejected at the time of placement; as such it is important to review and monitor your order after it is placed. On the phone. When trading over the phone, all your order details are confirmed while you’re on the line. You can also place a Trading Room password on your account, which can be used to access your account via the Trading Room. We will request your Trading Room password if you elected to place one on your account. Your Trading Room password can be the same as your internet password or it may differ.

Trading authorities. You may elect to authorise others to trade on your account. Trading authorities will be issued with a unique Customer ID and password for trading on the internet. Trading authorities are identified before placing an order on the phone. Trading warrants. Customers are required to read the ‘ASX Understanding Trading and Investments Warrants’ booklet and sign an accompanying form to trade warrants with Westpac Broking. This form is called an ‘ASX Warrant Client Agreement Form’ and is part of the information pack you’ll receive via your phone or email request. Please visit our online ‘Service Centre’ or call 13 13 31 to request a copy. Trading exchange traded options (ETOs). Customers are required to read the ‘ASX Understanding Options’ booklet and the ETO Product Disclosure Statement available on our website.


Buying and selling shares on the internet
It’s easy to get started. It takes only minutes to log on to Westpac Broking and it’s really easy to move around the site. Remember, you’ll need your Customer ID and password to log on. Getting around the internet site. It’s fast and easy to get around the Westpac site. There’s a menu bar on the left-hand side of each page, so you’re always just one click away from any part of the site you want. When you’re ready to make a trade, it’s one click to the ‘Place Order’ page. You’re also just one click away from Westpac Online Banking where you can check your bank account details, transfer funds, pay bills and much more. To find out more about Internet Banking, visit


Internet Trading
A step-by-step guide to trading online.
Step 1. Log on and check the market. • Sign in to the Westpac Broking private site by entering your customer ID and password. • Read the latest economic and market research news. Step 2. Review shares you’re interested in. • View your watch lists of preferred shares. • Chart the historical price performance of a particular share over time. • Find out more in the Research Centre. Step 3. Set your price. • Click ‘Get a Quote’ for an immediate price, or view other information including Market Depth, Company Profiles or Charts. • Check market depth to help you work out a price to buy or sell. (Refer to page 11 for more details)

Step 4. Place your order. • Click ‘Place Order’ from the menu bar and select ‘Buy’ or ‘Sell’. • Enter details of your order. (Refer to page 12 for more details)


Step 5. Preview your order. • Click ‘Preview Order’ to double check details of your order. • Click ‘Submit Order’ if you are satisfied all of the information you have entered is correct. • If not, make any necessary changes. Step 6. Submit your order. • Once you’re satisfied all the details are correct, click ‘Submit Order’. Step 7. Receive online order confirmation. • Your order details will be confirmed shortly after submitting your order with a receipt number. Step 8. Check your order status. • Click ‘Review Orders’ from the menu bar. • Enter your search criteria, including the date range, to refine your search. • Your order status will tell you whether your order is open, filled, partially filled or cancelled. (Refer to page 13 for more details)

Step 9. Receive contract note and holding statement. • View a summary of your contract notes and portfolio of holdings online.

See for yourself. Log on to Westpac Broking today at and take a test drive.


Up-to-the-minute price information at your fingertips
You’ve decided what you want to buy or sell. Now all you need to do is set your price. Here’s some information you can access to help you make a more informed decision. At just click of a button, you can access the latest prices and: • Request an immediate quote. • Get a snapshot of the market depth. • View up-to-the-minute prices and volumes (click on ‘Refresh’ to update the market information displayed). • View live company announcements as soon as they are released by the ASX. • Create your own watchlist to monitor your favourite securities, warrants and options. • View a price and volume chart for a particular security or warrant.


How to place an order to buy or sell
1. Click ‘Place Order’ from the main menu bar. 2. Select ‘Buy’ or ‘Sell’ and enter details for the ASX code, Quantity, Expiry Date and Amount. Then set your price by entering your ‘At Limit’ amount in the price box or select ‘At Market’. Please note that an ‘At Market’ price is a limit price equal to the best opposing price. Any quantity not satisfied at the best opposing price will remain on the market at that price until filled. If you don’t know the ASX code click ‘Search’. Once you have located your code, click it and this field will be updated. 3. Click ‘Preview Order’ to review your order details. 4. You will receive a confirmation box that shows your order details to confirm. Click ‘Submit Order’ if the order details are correct. This is your final approval to place the order.


How to check, review, amend and cancel orders
It’s easy to manage your portfolio online. You can review, amend, or cancel your unfilled orders any time before it trades. The details of your orders will be automatically updated. To review the status of your orders. 1. Select ‘Review Orders’ on the main menu bar. 2. Enter the search criteria. You can view a summary of your current unfilled orders or all orders. You can also review their status. From this screen you can choose to amend any open, unfilled or partially unfilled orders. You can only amend or cancel the unfilled portion of an order. To amend your open orders. After selecting ‘Amend’, you can increase or decrease the quantity and amend the ‘At Limit’ price and/or ‘Order Duration’ for an open order. An open order is an order that remains unfilled or partially unfilled in the market. Simply click ‘Preview Order’ when your changes are complete. To cancel an order. Select ‘Cancel’ on the ‘Review Orders’ page and then select ‘Confirm Cancellation’. You’ll then receive confirmation that your order to cancel has been submitted. When placing orders. After pressing ‘Submit Order’, there may be instances when you receive a message via the website. We may ask you to confirm that you wish to place the order or in some instances your order may not be accepted. In most instances orders that aren’t accepted have not passed the automated filters used for STP. Your order may also be referred for manual review in these circumstances.


Accessing your trading and account information
You’ll be able to log on and check your portfolio any time, day or night. Track your portfolio. Review your unrealised gains and losses, current holdings and share information. ‘My Portfolio’ gives you all these details on one page. Create and edit your personal share watch lists. Create up to four watch lists, each containing your favourite shares, warrants and options. Review your contract notes. Access a summary of your contract notes as soon as your order is filled. We’ll send your contract note via email to the email address provided by you. You can elect to have contract notes posted to you by logging on to the Broking website and selecting ‘Service Centre’ and then ‘Change User Details’. Please select each account you would like postal contract notes sent to. There is a small charge per contract note if you wish to have a copy mailed to you as opposed to sent via email. We will also post contract notes to you if you have not given us a valid email address. View your full trading history. Keep track of what you’ve bought or sold. Your ‘Trading History’ gives you a great audit trail at tax time.


Trading Funds
The elements that make up your available funds for trading are visible on the ‘Trading Funds’ page. The Trading Funds page will give you a snapshot of the amount of funds you have as well as a breakdown of how your available trading funds are calculated. Elements in the Trading Funds page will be different depending on the type of bank account you have chosen as your settlement account. If you have chosen to settle to an Integrated Westpac Cash Facility, the elements displayed will include the amount of cash in your bank account, any amount reserved for open buy orders you have placed, the value of your portfolio, any unsettled filled buy or sell trades and any open buy orders. If you have chosen to settle to any other bank account, the elements displayed will include the value of your portfolio, any unsettled filled buy or sell trades, any open buy orders and the trading limit allocated to you by Westpac Broking. The next time you are unsure about whether you have enough funds to place your buy order, or you just want a snapshot of your available funds, click on ‘Trading Centre’ and then ‘Trading Funds’ on the Broking left hand navigation menu.


Accessing Free Research
We provide access to comprehensive research, so you can keep an eye on the market and make your own informed investment decisions.
With Westpac Broking you can access a range of company information such as balance sheets, forecasts, charts and dividend history. You can also access company reports and key measures including PE ratio, market capitalisation and historical data. This information can help you put today’s price into perspective when making a decision about buying or selling shares. 1. Select ‘Company Research’ located under ‘Research’ on the main menu. 2. Enter the ‘ASX Code’ and ‘Search Selection’ then click ‘Submit’. Floats. You can also get details of upcoming floats and issues. You can check out their issue prices, amounts to be raised, underwriters and the expected close dates from the ‘Floats menu’ located under ‘Market Information’ on the main menu. Economic information. You’ll also be able to get an update on economic information compiled by Westpac’s Institutional Banking Group.


Accessing the Premium Research Centre
Premium Research is an enhancement to the Research Centre providing extended key information and new research options.
Premium Research features: • Research coverage – recommendations and research links for ASX listed companies. • Recommendations – buy, sell, hold and accumulate recommendations for a range of ASX listed companies and securities. • Value model – a tool that determines a share price value based on a number of key indicators. • Announcements – review company announcements by type and/or select a date range to refine your search. Market Sensitive announcements are indicated with a ‘!’. You can either subscribe to Premium Research by logging into Westpac Broking or qualify for access by completing a minimum number of trades.


In today’s fast moving markets Alerts can help you watch for and act on new opportunities or work as a risk management tool when the market turns. Our Alerts service can help you regardless of your trading strategy. You can create up to 25 Alerts to be notified on criteria such as when your security trades at a certain price or volume, or when the ASX releases a company announcement that may affect the price of your security. In addition, when you create an Alert it will be saved as a template which you can either activate or deactivate when the need arises. When the conditions of your Alert are met we will send you an SMS to your mobile phone or an email to your preferred email address.


Conditional Orders
Conditional orders are instructions that you give us based around a set of criteria or market conditions that must be met before your order is processed. When the market conditions meet the criteria you have nominated (i.e. the conditions are triggered) we process your order. This means once you have set up your conditional order you will have peace of mind knowing that your order will be processed should the market move in a particular way. In addition, we can keep you informed when your conditional order is triggered and/or executed by sending you a notification via SMS or email. For your convenience when you register for Conditional Orders you will also be registered for our Alerts service so that you can start receiving alerts for conditional orders immediately. Login to Westpac Broking and click on ‘Conditional Orders’ for more information.


Exchange Traded Options (ETOs)
ETOs are financial derivatives that trade on the ASX Options Market and allow investors to: • Protect their portfolio by hedging against adverse security price movements; • Generate income from premiums; • Buy shares for less than their current price by locking in a future sale or purchase price; • Make a profit from rising, falling or flat markets; • Get exposure to the underlying shares without paying the entire price for the security To learn more about options, or open an options trading account, login to Westpac Broking and click on ‘Options’ on the left hand menu. We invite you to discover the useful tools and information such as calculators and frequently asked questions in our Education section.


Integrated Westpac Cash Facility
The Integrated Westpac Cash Facility enables you to link certain Westpac cash accounts to your trading account so you can view your cash and share portfolio in one place. By linking your Westpac Broking and cash account you can take advantage of: • Preferred brokerage – trade online at a preferred brokerage rate. • Control of your portfolio – view and manage your cash and equity investments in one place. • Greater flexibility – place orders in excess of our standard limits up to the value of your cash and equity portfolio. • Competitive interest rate – earn a great return when your funds aren’t in the market while keeping full access to your cash. The Integrated Westpac Cash Facility is available with eligible Westpac cash accounts only. To find out more or to apply for a Westpac Cash Facility visit westpac. and click ‘Online Investing’.


Integrated BT Margin Lending
Westpac Broking offers an integrated online trading facility with BT Margin Lending. This function gives you a consolidated view of your portfolio and margin lending facility, which is updated as you trade. Margin Lending allows you to borrow to invest, which increases your opportunity to diversify and expand your investment portfolio. With BT Margin Lending, you’ll get: • Straight Through Processing (STP) with a BT margin loan and Westpac Broking. • Automatically assessed trades – we use your BT Margin Lending portfolio information. • 10% buffer on most shares and managed funds – twice as much as the traditional 5% buffer offered by most margin lending providers. • Competitive lending ratios of 30% to 75% for shares and 70% for most managed funds. Because processing trades with STP is extremely efficient, we can offer you preferential brokerage rates that are amongst the most competitive in the market.


Telephone Trading
A step-by-step guide.

Step 1: To place your order, call 13 13 31, Monday to Friday between 7am and 7pm (AEST). Step 2: You’ll be asked for your trading account number so your personal details can be verified. Step 3: We’ll also request your Trading Room password if you elected to place one on your account and ask for the details of your order. Step 4: Once the details of your order have been confirmed, we’ll endeavour to place it in the market. Step 5: A contract note will be sent to you on the day your order trades. This will include information such as the settlement date and your method of payment.


Trading Rules
Westpac Broking provides a trading service to its registered customers. All instructions via this trading service must comply with the applicable rules set out below.
These rules supplement the terms and conditions signed by all customers, and apply to all dealings between customers and Westpac Broking. To the extent of any inconsistency between the terms and conditions and this Trading Guide, the Trading Guide will prevail. Trading rules. These Trading rules apply to all trades effected through Westpac Broking. Financial Products available. 1. Westpac Broking offers a trading service in the following Financial Products: • All ASX-listed securities. • All warrants listed on the ASX. • Exchange traded options. • Listed company-issued options. • Listed unit trusts. • Listed convertible notes. • Renounceable rights. • Listed fixed interest securities. • If your shares are sponsored by another broker, you must transfer those shares to Westpac Broking before placing a sell order.

Warrants. 2. Customers may only trade warrants after reading the ASX’s explanatory booklet and after Westpac Broking receives a signed original copy of the Client Warrant Agreement Form. Placing orders. 3. You can place ‘At Limit’ or ‘At Market’ orders with Westpac Broking via the internet or over the phone. 4. ‘At Market’ orders can only be placed with Westpac Broking during market hours. This excludes instances where the market or security are in the ‘pre-open’ phase. 5. Orders with a ‘Specified Order Duration’ are valid for the specified duration of up to 21 days, if not cancelled earlier. 6. ‘At Market’ orders can only be placed from market open until market close on any trading day. ‘At Limit’ orders placed after market close will be dated and processed the following trading day.

7. ‘At Market’ orders that remain unfilled due to insufficient volume will remain in the market for their specified order duration. Amending and cancelling orders. 8. Subject to the Internet Rules set out below, you can instruct Westpac Broking to cancel or amend the unfilled portion of orders. Unfilled ‘Today Only’ orders can be amended or cancelled until Market Close on that day. Orders with a specified order duration may be amended or cancelled at any time before the end of trading on their expiry date. 9. Westpac Broking try to process your instructions as soon as possible. However, your initial orders may be executed before your subsequent instructions to cancel or amend an order can be implemented. This is particularly relevant for ‘At Market’ orders. Westpac Broking accepts no liability in these cases. 10. If an amendment request is rejected by Westpac Broking, the original order will remain in the market under the initial instruction.

11. Westpac Broking may cancel or reject orders. Customers are responsible for monitoring the status of their order by contacting the Westpac Broking Trading Room or via the ‘Review Orders’ section on the website. 12. In some instances, your order may be referred for manual review. While these orders are being reviewed by an operator, you’ll be unable to amend or cancel the order. Price increments. 13. Financial products and warrants listed on the ASX may only be traded in specified price increments. All orders submitted to Westpac Broking can only be above or below current market price in multiples of the price increments set out on the following page. All orders must comply with these price increments.
Price increments above share price or below current market price

Current Price

0.1c to 9.9c 10c to $1.995 $2.00 to $998.99 $999 or more

0.1c 0.5c 1c $1.00

*Subject to change by the ASX. 25

14. Orders and amendments are not processed 24 hrs a day. If an unprocessed amendment exists and you wish to cancel the order you must first cancel the amendment, then the order Minimum purchases. 15. All purchase orders must result in a purchase value of at least $500, excluding brokerage and GST unless you have a registered holding in the security with Westpac Broking. There is no minimum limit for sales. Limitations on placing orders. 16. We reserve the right to not accept additional orders or instructions from a customer where there are unresolved cases of the customer failing settlement. Similarly we may cancel any open orders. 17. We reserve the right to refuse any order that we believe is too far away or overlaps the market price for that security. 18. We will only accept sell orders if the customer holds the necessary stock when making the order, therefore:

• If the shares are CHESSsponsored by Westpac Broking, you must hold sufficient financial products in the relevant account to settle the order. • If your shares are Issuer Sponsored, orders must be placed by phone. You must quote your Shareholder Reference Number (SRN) when placing the order over the phone. • If your shares are sponsored by another broker, you must transfer those shares to Westpac Broking before placing a sell order and; • If your shares are certificated, you must send your certificates to Westpac Broking before the order will be accepted. 19. We reserve the right to require a deposit or full consideration before accepting an order. You’ll be advised of this requirement before the order is placed in the market. 20. We reserve the right to refuse any orders that do not comply with these Trading Rules or under the terms and conditions.


Internet Rules
In addition to the Trading rules, the following Internet rules also apply to trading via the internet: 21. Customers accept personal responsibility for transactions conducted on behalf of any of their account(s) once they have logged on. Customers should sign out of every browser session they have opened when leaving a terminal unattended to avoid unauthorised access. Customers are encouraged to change passwords frequently. 22. After sending an order, customers must ensure they receive a message on their screen that Westpac Broking has received the order. At this stage, the order has not yet been placed in the market. If no such message appears, the customer should contact Westpac Broking. 23. Customers must not sell Issuer Sponsored Securities via the internet. Orders for the sale of Issuer Sponsored Securities must be placed over the phone, in which case the relevant telephone brokerage rates will apply. Customers may transfer their Issuer Sponsored Securities to Westpac and financial products that are sponsored by Westpac Broking may, subject to the above rules, be traded via the internet. 24. Before placing such a telephone order, customers should ensure they have the relevant SRN for Issuer Sponsored Securities. 25. Customers must place all orders relating to Renounceable Rights and Certificated Securities via the phone, in which case the relevant telephone brokerage rates apply. General. 26. Westpac Broking is not liable for any order submitted or executed outside these Trading Rules. 27. Westpac Broking may vary this Trading Guide at any time. Notifications of variations to this Trading Guide will be made available via the Westpac Broking internet site. For those customers who do not have internet access, notification of such variations will be sent to your nominated contact address. Amendments will be effective from the date indicated.


ASX information
ASX trading times. The Australian Securities Exchange (ASX) has set the following opening times, but reserves the right to vary these times:
Shares starting with A–B C–F G–M N–R S–Z Opening time (AEST) 10:00:00am 10:02:15am 10:04:30am 10:06:45am 10:09:00am

Instead of receiving physical share certificates, you’re provided with easy to-read statements, similar to bank statements, with details of your CHESS shareholdings. As a customer of Westpac Broking, you have agreed to be sponsored by us into CHESS. You may have Issuer Sponsored holdings that you wish to transfer to Westpac Broking. We can only transfer if the registered owners name matches the Westpac Broking account name. Many foreign financial products listed on the ASX are non-CHESS approved financial products. Orders to buy and sell non-CHESS approved financial products must be placed over the phone, in which case the relevant telephone brokerage rates will apply. ASX purge. Sometimes the ASX deletes orders from the market. This is called a purge and it may occur in a number of situations such as where the basis of quotation of a share changes (e.g. a cum dividend share goes ex-dividend), or where the market has moved and orders are too far from the current bid or offer. In such cases, Westpac Broking will endeavour to update the site by the next trading day. However, you will be responsible for checking the status of your order and, if required, reinstating your order.

The market generally closes at 4.00pm (AEST). In some circumstances trading may continue after this time. The ASX holds a Closing Single Price Auction (CSPA) that occurs at 4.10pm (AEST) after the market has closed. Overlapping orders are matched at a single price determined by an algorithm set by the ASX. Market trading hours for both exchange traded options and index options are from 10am to 4.20pm (AEST) What is CHESS? The Clearing House Electronic Subregister System (CHESS) is the settlement system operated by ASX Settlement and Transfer Corporation Pty Ltd (ASTC) and Australian Clearing House Pty Limited (ACH).


Other important things you should know
Straight Through Processing. Westpac Broking’s order handling system uses a series of automated filters. Orders that pass all of these filters are sent straight to the market with no human intervention. As a client of Westpac Broking, you have access to STP when you place orders for ASX-listed financial products online or via the Trading Room. Orders that do not pass all of the filters are reviewed by Westpac Broking staff and subsequently placed on the market or rejected. Type of orders you can place. You can place orders in the market for a specified period of up to 21 days or for ‘Today Only’. You can also select a price at which you wish to buy and sell or place your order at the prevailing market price. At Limit. ‘At Limit’ orders place a limit on either the highest price you will pay or the lowest price you will accept. You can place an ‘At Limit’ order when the market is closed and it will be queued ready for processing before the market opens. This means that you can place an order online any time. At Market. An order to buy or sell shares at the market price at the time the order is placed and executed in the market. It’s not guaranteed that the quoted price will be achieved, as the price of an ‘At Market’ order, when executed may be different from the price quoted when the order was submitted. Your order will be placed in the market against the first ‘and highest’ bid (if selling) or first ‘and lowest’ offer (if buying) price. In the absence of sufficient buyers or sellers at any price, any unfilled part of your order will remain open in the market at the price where the previous part of the order was filled. You can amend or cancel the remaining part of the order. ‘At Market’ orders can only be placed during market hours. Market hours are usually 10am to 4pm AEST.


Today Only. A ‘Today Only’ order is valid only for the trading day on which it is placed and expires at the end of this day. Specifying the order duration. An order can remain open for up to 21 days or until it’s filled or cancelled. You’ll need to specify a date when placing your order. An order may be partially filled over a number of days within this period. If this occurs, a separate contract note will be issued for each part of the order filled. If the order is unfilled after this period, it’ll be cancelled automatically at market close on expiry date. Amending an order You can amend the expiry date, limit price and volume of an unfilled or part filled order anytime while it is open. Conditional Orders. Due to certain market conditions there may be times when your conditional order needs to be reviewed further. This may result in a small delay in placing the order on market. In some circumstances it may mean the order does not trade.

Trading limits. Trading limits apply for each order and each account. These are set at account establishment and may be changed at any time. They are advised on the Westpac Broking website, or upon a telephone inquiry. They are applied at the time the order is submitted. For the purposes of order placement, shares are valued at the prior days closing bid price and may be reduced in value by a factor at our discretion. When not to trade. You must stop trading and notify us when: 1. You don’t receive an order number for an order that you have just placed or anything else that is inconsistent with this Trading Guide. 2. You receive confirmation of an order that you haven’t placed. 3. You receive an inaccurate confirmation of an order or its execution. 4. You suspect security breaches or are aware of an unauthorised person accessing your records. 5. You discover your password or Customer ID is no longer confidential.


Margin Lending. All orders on a margin lending facility are confirmed with the lender prior to being placed in the market. Where the lender is BT Margin Lending, orders can be placed via phone or internet. If using a non-BT Margin Lending margin loan all orders must be placed by phone. Standard telephone brokerage rates will apply. Trading Renounceable Rights. If you purchase rights, the contract note we send you will request payment of the cost of the rights purchased together with the application money. If you don’t intend to exercise your rights you must advise us in writing before settlement day. If you elect to not exercise your rights and have paid us the application money, you must advise us by fax or in writing at least five business days prior to expiry and we’ll credit your account with the exercise amount. If you fail to advise us, we will proceed to exercise your rights and you will be issued with the relevant shares. We can only exercise your rights where you have provided us with exercise funds.

Feedback. Westpac Broking is committed to continually improving the service we provide to customers. If you have any feedback, questions or problems, email us at, call 13 13 31, Monday to Friday between 7am and 7pm AEST, or write to us at Westpac Broking, Reply Paid 7777, Cloisters Square, Perth, WA 6850.


ACH. Australian Clearing House Pty Ltd. Alerts. Alerts are messages that you request us to send you either by SMS on your mobile phone or to your email address when certain market conditions that you have specified are met. All Ordinaries Share Price Index. Measures the level of share prices at any given time for a major sample of companies listed on the ASX to determine the overall performance of the Australian sharemarket. Stock exchanges in other countries have similar indices e.g. Dow Jones Industrial Average (New York), FTSE (London) and Nikkei Dow (Tokyo). ASIC. Australian Securities and Investments Commission. The government body responsible under the Corporations Act for regulating companies, the issue and sale of shares and trust units, company borrowings, and investment advisers and dealers. ASTC. ASX Settlement and Transfer Corporation Pty Ltd. ASX. Australian Securities Exchange. At Limit. An order that places a limit on either the highest price you will pay or the lowest price you will accept. At Market. An order to buy or sell shares at the market price at the time the order is placed. BPAY. BPAY is an Australia-wide bill payment service that provides billers (such as electricity suppliers, stockbrokers and others) with the ability to receive payments from their customers electronically via major financial institutions. Through BPAY, customers pay their bills and transfer funds via any participating financial institution’s telephone banking system or internet facility where available. Bid. The price at which someone is prepared to buy shares. Bonus issue. An issue of new shares to a company’s shareholders without charge. Like a rights issue, it is made on a pre-determined ratio e.g. one for two. (One new share for every two already held.) CHESS. ASX Clearing House Electronic Subregister System. CHESS provides electronic transfer of share ownership. Contract Note. A confirmation sent by a stockbroker to a client confirming a purchase or sale, showing details of the transaction, price, brokerage and other charges involved.


Company Issued Options. Option to subscribe for shares at a prescribed price from the issuer at or before a prescribed future date (expiry date). Option holders are not considered shareholders until a conversion has taken place. Conditional Orders. Conditional orders are instructions that you give us based around a set of criteria or market conditions that must be met before your order is processed. Convertible Notes. Note holders are usually paid a prescribed interest payment over a prescribed term. The terms may allow note holders to redeem the notes or convert to ordinary shares, at either prescribed times or any time during the term of the note’s issue, or at the expiry of the note issue. Cum dividend. Cum means ‘with’. Shares quoted cum dividend entitle the buyer to the current dividend. The price of the shares will usually reflect the amount of the dividend. Dividend. Distribution of part of a company’s net profit to shareholders as a reward for investing in the company. Usually expressed as a percentage of par value or as cents per share.

Exchange Traded Options (ETOs). A contract between two parties giving the buyer the right, but not the obligation to buy or sell a parcel of shares at a set price, on or before a predetermined date. Ex dividend. Shares sold ex dividend entitle the seller to retain the current dividend. Shares are quoted ex dividend five business days before a company’s books close to determine shareholders entitled to the dividend. HIN. A Holder Identification Number. Similar to a bank account number, a HIN is allocated to anyone with shares on the CHESS subregister. Each broker has a unique HIN for each client. IPO. Initial Public Offering. A first offering to the public of a company’s shares. Integrated Accounts. Receive preferential brokerage by ensuring your settlement account is linked to your trading account via an eligible Westpac cash account or a BT margin loan. Listed Company. A company that has agreed to abide by ASX listing rules so that its shares can be bought and sold on the ASX. Minimum Parcel. The minimum number of shares necessary for an initial purchase of a particular share. Once the first purchase has been made, shares may be bought and sold in any quantity.

Market Price. The prevailing price of shares traded on the ASX. NASDAQ. National Association of Securities Dealers Automated Quotation. NYSE. New York Stock Exchange. Offer. The price at which someone is prepared to sell shares. Open order. An order that remains unfilled or partially unfilled in the market. Ordinary shares. A class of shares that have no preferential rights. They are the most commonly traded security in Australia. Holders of ordinary shares are part owners of a company and may receive dividends if the company is profitable and declares a dividend. Preference shares. Rank above ordinary shares for claims on assets, earnings and dividends but rank below creditors and debenture holders. These shares usually have a fixed dividend rate. Quote. A live market quote will show the best bid (buy order) and the best offer (sale order) in the market at that moment. A previous day’s quote will show the best bid and offer as at the close of the market.

Renounceable rights. Renounceable rights issues are usually a form of capital raising. Existing shareholders are given the right to buy more financial products. (Usually below the prevailing market price.) This right is usually offered at a ratio to their current shareholding (e.g. one right for every ten shares currently held.) Shareholders can either accept the offer by paying ‘application money’ directly to the company or sell their rights on the market. A rights holder is not considered a shareholder until acceptance documents have been lodged with the company along with payment of the application money. Rights issue. A privilege granted to shareholders to buy new shares in the same company, usually below the prevailing market price. Standard Accounts. Pay standard brokerage and settle to any bank account. Straight Through Processing (STP). The process by which the ASX trading system accepts orders electronically without being keyed or re-keyed by an operator. SRN. Shareholder Reference Number. (SRN can also refer to a security reference number.) Today Only. An order which is valid only for the current trading day, from 10am to close of trading, and expires at the end of the day.


Frequently Asked Questions
What can I trade? All ASX-listed shares, warrants and options listed on the ASX, listed company-issued options, listed unit trusts and listed convertible notes renounceable rights. How can I place an order? Call us on 3 13 31, Monday to Friday between 7am and 7pm (AEST) or place an order via our website at www. How can I contact Westpac Broking? You can call 3 13 31, Monday to Friday between 7am and 7pm (AEST). Or send us an email at broking@ Can I place an order when the market is closed? Yes. ‘At Limit’ orders with an order duration greater than ‘Today Only’ can be placed through the Westpac Broking website at any time or by phone between 7am and 7pm AEST, weekdays. ‘At Market’ orders can only be placed during market hours. Can I track my open orders? Yes. Click ‘Review Orders’, select your ‘Search Criteria’ and a list of orders and their status will appear. Is my portfolio automatically updated? Yes. After your order is executed, you’ll find your holdings are updated in your ‘Client Portfolio’. The transaction is recorded in ‘Trading History’ and you can view a summary of your ‘Contract Note’ details online. What happens if I type in or select something incorrectly? With Westpac Broking, you’re able to verify all of your on-screen selections. Any time you place, amend or cancel an order you are asked to review and confirm your action. If you send an order with similar details, a ‘Duplicate Order’ page will appear to confirm you’re placing a new order. How will I know my order has been received? You’ll know your order has been received when the online confirmation page, ‘Order Details’ appears. If your system crashes or your connection is cut in the middle of a trade, the ‘Order Details’ confirmation page will not appear, indicating that your trade has not been received. You can log back on and click ‘Review Orders’ to see whether your order has been placed or not. If your order doesn’t appear then it hasn’t been received and you should call Westpac Broking on 13 13 31.


How can I pay for my share purchases? You can choose to BPAY funds to Westpac Broking. We must receive this payment by the day of settlement. You can also arrange for us to direct debit your nominated bank account. Please check with your Financial Institution for BPAY cut off times. If paying from a Westpac account, the BPAY transaction should be completed by 6pm for receipt the following business day. Can I authorise someone else to operate my account? Yes. You can authorise another person to operate your account by electing that person on your application form. Or you can complete an ‘Authority Form’ – you can get one online and also by calling our Trading Room. This Trading Authority will receive a separate Customer ID and Password to access your account. Do I need special software? No special software is required to access Westpac Broking – just a compatible browser.

What’s the difference between your Integrated Accounts and your Standard Accounts? Integrated accounts are Broking accounts that settle through a Westpac Cash Facility or a BT Margin Loan. These accounts are charged a preferential brokerage rate. For accounts linked to a Westpac Cash Facility, trades can be placed to the portfolio value plus the bank account cash account balance. Funds from your cash account can be reserved until settlement as part of this facility. How do I qualify for Conditional Orders? To qualify for conditional orders you need to complete the registration and online quiz. To assist you we have provided information on our website about each of the order types and some strategies than can help you to place the right type of conditional order for your needs. How can I start receiving Alerts? To start receiving alerts simply click on the Alerts tab on the left hand menu and accept the terms and conditions. You will need to request the particular Alerts you wish to receive.


How do Alerts work with Conditional Orders? When you register for conditional orders you also register for alerts. If you have chosen to be notified by SMS or email you will automatically receive a notification when your conditional order is sent to market, on the first partial fill and when your order is completed. How do I qualify for Premium Research? You are provided free access to Westpac Broking Premium Research by completing a minimum number of trades or you can subscribe online. For details of the exact number of trades you need to complete please refer to our website or call us on 13 13 31.

How can I start trading options? You will need to first open an options account. All the forms you need are available on our website. Simply click on the ‘Place Order’ link from the options menu. Our online account opening process will take you through the completion of each form. Please allow five to seven working days from the day you sent us your completed forms for your account to be activated.


Things you should know: Westpac Securities Limited (ABN 39 087 924 221), trading as Westpac Broking, is a licensed securities dealer and a Participant of the Australian Stock Exchange Limited (ASX) Group. Westpac Broking is a separate company within the Westpac Group. The repayment of capital or performance of investments is not guaranteed by any member companies of the Westpac Group.
WFS301 (6/07) W001372 © 2007 Westpac Banking Corporation.