Shares
Trader Dealer enables clients to execute share and warrant orders on the ASX using true "straight through processing" technology. For a fixed cost of $33 per confirmation (GST inc), the Trader Dealer trading platform allows the investor to access market data, charting technology and ultimately execute their own orders into the market. The speed at which orders are transacted gives you the ability to compete on a level playing field with stockbrokers themselves!
Getting Started
Once your application has been approved and you have transferred your CHESS holdings or cleared funds in your nominated Cash Management Trust account, placing an order to buy or sell shares is easy.
Within Trader Dealer’s trading platform it is a straightforward process to create and execute a new order.
A BUY order can be made only when you have sufficient cleared funds in your nominated Cash Management Trust account. Similarly, a SELL order can only be made for stock that you currently hold on CHESS. The process by which these details are checked is known as order vetting and is automatically performed by the Trader Dealer trading platform. Trader Dealer also contains other filters which protect you from placing incorrect orders, for example entering the wrong share price in the order.
Once the order passes through these filters, it is placed directly into the ASX's Integrated Trading System (ITS). This occurs in real time and without manual intervention by Trader Dealer. Of course, orders can later be amended or removed at your discretion.
On completion of ASX trading, your trades in each stock will be aggregated and booked at an average price. You will receive notification of trades via an electronic confirmation which will be emailed to you. The confirmation will detail the costs, type and quantity of shares traded (brokerage charges will apply per confirmation, not per order). The confirmation serves as your official trade record.
From here the trade is settled (generally on the basis of the trade date plus three business days) and official adjustments to your holdings or funds are made.
