Technology system upgrade

No, there are no actions required from your side. This upgrade is part of our ongoing efforts to enhance our internal systems and ensure we continue to provide you with the best service possible. You can continue to use our services as usual.

A Participant Identification Number (PID) is a unique number that identifies an organisation that is authorised to trade on the Australian Securities Exchange (ASX) or to settle and clear trades. PIDs are associated with shares that are sponsored by a broker or custodian.

As a result of the technology system upgrade, your broker PID will be changing from 6381 to 6382. No action from you is required.

Please note there may be delays in opening your account during the technology upgrade period.

Yes, however processing times may be slightly delayed.

All open orders placed on ASX and Cboe, via the Westpac Share Trading website, mobile app or IRESS ViewPoint, will be cancelled if they are not executed prior to the close of market on Friday 28 March. This applies to trades placed for Australian shares and ETFs.

ETO and Warrant trades expire as "good for day," meaning if they do not execute by the end of the trading day on which they were placed, they will be cancelled. Therefore, the usual trading practices remain in place for ETOs and Warrants.

Please refer to the ASX cash market trading hours page for a breakdown for the phases.

To view your outstanding orders, navigate to Trading > Share Orders > Manage Orders , select your account and choose ‘Outstanding Orders’ from the drop-down menu. You will need to do this for each account. Should you wish to do so, cancelled orders will need to be replaced at your desired price limit from Monday 31 March. Please note, Conditional orders are not impacted.

No, you will not be charged brokerage for unexecuted or cancelled orders. However, if the order has been partially executed, you will receive a Confirmation detailing the brokerage charged for the executed portion of the trade. Should you wish to do so, cancelled orders will need to be replaced at your desired price limit from Monday 31 March. This will be considered a new trade, and brokerage will be charged accordingly.

No, you will need to place a new order at your desired price limit from Monday 31 March.

You’ll continue to receive the same Confirmations and reports as you do today with a new and enhanced look and feel. You may also notice the Confirmation reference will increase from 9 to 16 alphanumeric characters.

There will be a change to the breakdown of GST on fees between Brokerage and Admin/Miscellaneous fees/charges. There will be minor rounding differences as GST will now be calculated based on individual components rather than a consolidated line item. This adjustment will be reflected in the Confirmations and the Online Confirmed Trades file.

Following the technology upgrade, the ‘Trading’ and ‘Position & Financial’ statements will be consolidated into a single ‘Daily Trading Statement’, replacing the need to download dual statements. The content and frequency of the statements will remain the same.

There will be a minor change to the website location under Trade > Options > Options statements to accommodate the consolidated daily trading statement.

We are aligning our contract registration fees with those charged by the Australian Securities Exchange (ASX). This means we will adopt their tiered fee structure.

ASX Clear charges a registration fee of $0.06 - $0.31* plus GST per listed single stock Option contract depending on the Tiered Fee category of the stock. The ASX allocates each Single Stock Option into one of five Tiered Fee Categories. The current list of stock tiers can be found at: ASX Schedule of Fees – Costs of Trading Options. The ASX reviews the allocation of stock tiers approximately every 6 months.

*Per contract fee of $0.00 applies if premium is $0.01 or lower.

If you exercise an equity option, ASX Clear will charge an exercise fee of $0.05 plus GST per contract. If you are assigned on an Options position, ASX Clear will charge a fee of $0.05 plus GST per contract.

In the case of index options, there will be no change. ASX Clear will charge a registration fee of $0.45 plus GST per contract for ETOs and an exercise fee of $0.35 plus GST per contract.

Cheque settlements will be discontinued. Therefore, all trading accounts require a bank account linked for settlement from Monday 31 March. If no account is linked, a restriction will be placed on the trading account until a Westpac bank account is linked.

To add or change your settlement account, please complete the Change of Payment Options and Direct Debit/Direct Credit Request form available on our website.

Renounceable rights can still be traded on market, where available. However, due to the low demand for the collection of application monies on the exercise of renounceable rights, we will discontinue that service. If you wish to exercise your rights during a renounceable rights offer, you will need to contact the applicable share registry.

Yes, account holders who wish to exercise renounceable rights after Monday 31 March 2025, must contact the applicable share registry directly to pay the application monies.