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My understanding is that when you buy a share T+3 applies.
When you sell a share T+5 applies.
This way Comsec can have your money for the longest period of time - they take it early and give it back late.
T+ 3 traders is another term, those that trade without funds to finance their purchase. So quick buy and sell and pocket the difference (or pay the difference) instead of the whole purchase price. AKA day traders, though not necessarily buy and sell within a day. I have got away with it myself a few times and only got nailed once for a penalty fee.
T+3
- Thread starter coppo
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prawn_86
Mod: Call me Dendrobranchiata
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Re: T3
I thought it stood for Telstra 3
I thought it stood for Telstra 3
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Re: T3
T = Trade
+3 = 3 days after date of trade.
Meaning you will get paid/need to pay for your trade 3 days after buying/selling
T = Trade
+3 = 3 days after date of trade.
Meaning you will get paid/need to pay for your trade 3 days after buying/selling
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I have edited the thread title to read T+3 rather than T3 as it could lead to some confusion with Telstra.
Here is the explanation from the ASX: http://www.asx.com.au/about/shareholder/media_releases/MR270199_AS3.htm
Here is the explanation from the ASX: http://www.asx.com.au/about/shareholder/media_releases/MR270199_AS3.htm
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hi,
Just some clarification on that?
Trade plus 3 days....
ie... Monday (sell a stock), wait Tuesday and Wednesday then Thursday the funds will be available?
I (use to) trade through Comsec and sometimes it takes 4-5 days too see the funds?!! It can be frustrating when I need the funds to do something.
Just some clarification on that?
Trade plus 3 days....
ie... Monday (sell a stock), wait Tuesday and Wednesday then Thursday the funds will be available?
I (use to) trade through Comsec and sometimes it takes 4-5 days too see the funds?!! It can be frustrating when I need the funds to do something.
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My understanding is that when you buy a share T+3 applies.
When you sell a share T+5 applies.
This way Comsec can have your money for the longest period of time - they take it early and give it back late.
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It's always T + 3 regardless of buy or sell.
Just remember that the 3 days have to be ASX business days which exclude national public holdays, state based public holidays for NSW (maybe VIC too) and of course weekends + any bank holidays which is usually August 1 or Monday after Aug 1
Just remember that the 3 days have to be ASX business days which exclude national public holdays, state based public holidays for NSW (maybe VIC too) and of course weekends + any bank holidays which is usually August 1 or Monday after Aug 1
T+ 3 traders is another term, those that trade without funds to finance their purchase. So quick buy and sell and pocket the difference (or pay the difference) instead of the whole purchase price. AKA day traders, though not necessarily buy and sell within a day. I have got away with it myself a few times and only got nailed once for a penalty fee.
Hi all.
Say for example i have a few shares with etrade but no funds in the etrade account. I deceide to sell one of my shares and with that money i want to buy some other shares straight away. Will etrade let me do that or do i have to wait T+3.
Thanks.
Say for example i have a few shares with etrade but no funds in the etrade account. I deceide to sell one of my shares and with that money i want to buy some other shares straight away. Will etrade let me do that or do i have to wait T+3.
Thanks.