Broker participant requirements
Broker participants are required to trade using the NSX Electronic
Trading System (NETS) terminal or an alternative approved by NSX. NSX does not enter trades
on behalf of broker participants. Nor can NSX enter orders direct
from investors as this would conflict with NSX's regulation of the
market. NSX has the power to request
cancellation of trades in order to maintain an orderly market.
The NSX operates its own trader workstation terminal as well as
electronic feeds for those wishing to use their own terminals or for
information vendors. The service is called NETS (NSX Electronic
Trading System) and is based on one of the most
technologically advanced trading platforms in the world. NSX sources its
technology from OMX.
NETS compares buying and selling orders entered into the system and
automatically executes trades in strict time/price priority whenever two
orders match.
Orders, are entered on NETS trader workstations in stockbrokers'
offices which may be located anywhere, and are then routed to network
processors in the NSX's datacentre.
Trading hours are between 10.00am and 4.15pm Australian Eastern
Standard Time ("AEST"), Monday
to Friday.
Fees
NSX charges AUD $5.50 per buy or sell irrespective of the value of
the trade. If trades fail to settle on a T+3 basis a fail fee of
$50 per trade per day may be levied.
For those using NSX's settlement service (optional) there is an
additional fee of AUD $1.10 per buy or sell.
All fees include GST.
Trademark acknowledgements:
(**) CHESS is a registered trade mark of ASX Settlement and Transfer
Corporation Pty Ltd ("ASX Settlement").
|
