Changes to the US Exchange Traded Options Product Disclosure Statement (US ETO PDS) effective 17 November 2026.

Effective 17 November 2026, the following changes will be made to the US Exchange Traded Options Product Disclosure Statement (US ETO PDS):

Section/Clause Current New
Effective date: 14 July 2025 17 November 2026
The issuer Important Information
References to Cboe Australia Pty Ltd (Cboe) References updated to TMX Australia Exchange Pty Limited (TMX Australia Exchange)
Trading US Options with us
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International Markets Terms and Conditions
Section/Clause Current New
References to Cboe Australia Pty Ltd (Cboe) References updated to TMX Australia Exchange Pty Limited (TMX Australia Exchange)
The Westpac Share Trading International Markets service ('International Markets') is an international share trading, nominee and custody service provided by AUSIEX ('We, Us, Our') ABN 71 076 515 930, AFSL 241400, a wholly owned subsidiary of NRI. The Westpac Share Trading International Markets service (International Markets or International Trading) is an international share trading, nominee and custody service provided by AUSIEX (We, Us, Our).
https://www.westpac.com.au/personal-banking/share-trading/support/privacy/ westpac.com.au/personal-banking/share-trading/support/privacy/
DEFINITIONS
New Definition No definition 1.9 Extended Hours Trading means trading in International Securities outside the Regular Market Session of an Available Exchange, including pre-market, post-market and Overnight Trading Sessions.
New Definition No definition 1.19 Overnight Trading Session means an Extended Hours Trading session operating outside the primary trading hours of the relevant exchange.
New Definition No definition 1.27 Regular Market Session means the primary trading session designated by the relevant exchange for normal market activity and price discovery.
Clause 2.1(c) It is not compulsory for You to tell Us your Tax File Number, exemption code, or company number (if you have one). It is not compulsory for You to tell Us your Tax File Number (TFN), exemption code, or company number (if you have one).
New Subclause - 4.7a No clause Certain order types available during a Regular Market Session may not be available during Extended Hours Trading. The order types available during Extended Hours Trading are determined by the relevant exchange, market operator, Service Provider, International Custodian or Agent and may change without notice.
New Subclause - 4.7b No clause Orders that remain unexecuted at the conclusion of an Extended Hours Trading session may be cancelled by the relevant exchange, market operator, Service Provider, International Custodian, Agent or by Us. Any such order may require resubmission by You before it can be executed.
Clause 4.10(a) If market orders are submitted outside of exchange market hours, You acknowledge that there are risks involved that are not usually incurred when trading during regular market hours, including; lower liquidity, higher volatility, changing prices, wider price spreads, and timings associated with Your transaction date and Corporate Action and News Announcement Events. You agree that where You use these features that You accept the associated risks. Where an order is submitted outside exchange market hours, including during Extended Hours Trading or an Overnight Trading Session, additional risks may arise which do not ordinarily apply during a Regular Market Session, including: (i) lower levels of market liquidity; (ii) increased price volatility; (iii) wider bid and offer spreads; (iv) reduced market depth; (v) limited or delayed market data; (vi) reduced price transparency; (vii) delays in order execution; (viii) partial execution or non-execution of orders; (ix) exchange-imposed trading restrictions or trading halts; (x) Corporate Actions and news announcement impacts; and (xi) differences in trade date allocation and settlement processing.
New Clause 4.10(d) No clause Prices available during Extended Hours Trading may differ materially from prices available during a Regular Market Session and may not reflect the price at which the relevant International Security subsequently trades when the primary market is open.
New Clause 4.10(e) No clause Market data, pricing information and market depth information made available during Extended Hours Trading may be delayed, incomplete, unavailable or otherwise differ from information available during a Regular Market Session.
New Clause 4.10(f) No clause Transactions executed during an Overnight Trading Session may be allocated a trade date that differs from the calendar date on which the order was submitted. Settlement obligations will be determined in accordance with the rules and procedures of the relevant exchange, clearing facility or market operator.
New Clause 5.6(a) No clause Delays in the transmission, acceptance, processing or execution of orders may be more likely during Extended Hours Trading and/or Overnight Trading Session due to reduced market participation, lower liquidity, exchange maintenance periods, technology limitations, third-party dependencies or other market conditions outside of a Regular Market Session.
Clause 8.1(b) Notwithstanding sub-clause 8.1(a), We will be liable to You if You suffer loss in respect of Your International Securities due to a failure by Our Agents or International Custodian to comply with its legal duties under these Terms and Conditions and any other agreement relating to the holding of Your International Securities or to observe reasonable standards generally applied by providers of custodial or depository services for holding property such as International Securities. Despite clause 8.1(a) and any other exclusion or limitation of liability in these Terms and Conditions, We are liable to You for loss caused by Our failure, or the failure of any Agent or International Custodian engaged by Us to hold Your assets, to comply with its duties under the applicable custody arrangement or to observe reasonable standards generally applied by providers of custodial or depository services, subject to clause 8.1(c).
New Clause 13.3 No clause Without limiting any other provision of these Terms and Conditions and to the maximum extent permitted by law, neither We nor any Agent, Service Provider, International Custodian, market operator or exchange shall be liable for any loss, damage, liability, cost or expense arising directly or indirectly from: (a) participation in Extended Hours Trading; (b) reduced liquidity; (c) increased market volatility; (d) wider bid and offer spreads; (e) delayed, incomplete or unavailable market data; (f) exchange-imposed trading restrictions or market halts; (g) Corporate Actions processed during Extended Hours Trading; (h) cancellation, expiry or rejection of orders; or (i) the allocation of a different trade date by the relevant exchange or market operator.
Clause 15.2(d) No clause We will notify You as soon as reasonably practicable, unless prohibited by law. Any exclusion of liability under this clause does not extend to loss caused or contributed to by Our negligence, fraud, dishonesty, wilful misconduct or breach of these Terms and Conditions.
New Clause 19.4 No clause Not all Available Exchanges, markets or International Securities will support Extended Hours Trading. The availability of Extended Hours Trading may vary by exchange, security, jurisdiction, service provider or market conditions and may be amended or withdrawn by the relevant exchange, market operator, broker, custodian, Service Provider or by Us at any time without notice.
New Clause 19.5 No clause Trading hours applicable to any International Security are determined by the relevant exchange and may be amended by that exchange from time to time without prior notice.
Clause 21.1(f) We will advise You in writing with 14 day's in advance, if there are any changes to the Direct Debit arrangements. We will advise You in writing at least 14 days in advance, if there are any changes to the Direct Debit arrangements.
Clause 24.3 URL https://sharetrading.westpac.com.au/media/209031/wst1122-international-markets-payto-service-agreement.pdf sharetrading.westpac.com.au/media/209031/wst1122-international-markets-payto-service-agreement.pdf
Clause 25.2 URL https://www.westpac.com.au/personal-banking/share-trading/support/privacy/ westpac.com.au/personal-banking/share-trading/support/privacy/
Clause 25.2 third party service provider's collection, use or disclosure of Personal Information third party service providers' collection, use or disclosure of Personal Information

Westpac Securities Limited ABN 39 087 924 221, AFSL 233723 (‘Westpac Securities’) (trading as ‘Westpac Share Trading’) provides the opportunity to trade listed financial products through our arrangement with Australian Investment Exchange Limited ABN 71 076 515 930, AFSL 241400 (‘AUSIEX’), a wholly owned subsidiary of Nomura Research Institute, Ltd. (‘NRI’). AUSIEX is a Market Participant of ASX Limited (‘ASX’) and Cboe Australia Pty Ltd (‘Cboe’), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Neither AUSIEX nor Westpac Securities are representatives of each other. Westpac Securities is not a related party of AUSIEX, NRI, ASX or Cboe. Under this arrangement, all trading, clearing, settlement and stock sponsorship arrangements are directly with AUSIEX. AUSIEX is not authorised to carry on business in any jurisdiction other than Australia.

The Westpac Share Trading International Markets service (‘International Markets’) is an international share trading, nominee and custody service provided by Australian Investment Exchange Limited (‘AUSIEX, We, Us, Our’) ABN 71 076 515 930, AFSL 241400, a wholly owned subsidiary of Nomura Research Institute, Ltd. (‘NRI’). AUSIEX has appointed Saxo Bank A/S Company Reg. No: 15731249 as its International Custodian. For full details, please refer to the International Markets Terms and Conditions. You can either request us to mail one to you, or alternatively, call one of our Trading Representatives on 13 13 31 between 8am and 7pm (Sydney time), Monday to Friday.

Westpac Securities Limited (Westpac Securities trading as Westpac Share Trading) (ABN 39 087 924 221, AFSL 233723), provides the opportunity to trade listed financial products through our arrangement with Australian Investment Exchange Limited (AUSIEX) (ABN 71 076 515 930, AFSL 241400), a wholly owned subsidiary of Nomura Research Institute, Ltd. (NRI). AUSIEX is a Market Participant of ASX Limited (ASX) and TMX Australia Exchange Pty Limited (TMX), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Neither AUSIEX nor Westpac Securities are representatives of each other. Westpac Securities is not a related party of AUSIEX, NRI, ASX or TMX. Under this arrangement, all trading, clearing, settlement and stock sponsorship arrangements are directly with AUSIEX. AUSIEX is not authorised to carry on business in any jurisdiction other than Australia.

The Westpac Share Trading International Markets service (International Markets or International Trading) is an international share trading, nominee and custody service provided by AUSIEX. AUSIEX has appointed Saxo Bank A/S Company Reg. No: 15731249 as its International Custodian. For full details, please refer to the International Markets Terms and Conditions. You can either request us to mail one to you, or alternatively, call one of our Trading Representatives on 13 13 31 between 8am and 7pm (Sydney time), Monday to Friday.
International Markets Risk Disclosure Statement
Section/Clause Current New
References to Cboe Australia Pty Ltd (Cboe) References updated to TMX Australia Exchange Pty Limited (TMX)
Extended Hours and Overnight Trading Risk
No wording currently exists. Extended Hours and Overnight Trading Risk
Some International Securities may be available for trading outside the regular trading session of the relevant overseas exchange, including pre-market, post-market and overnight trading sessions ('Extended Hours Trading'). Extended Hours Trading involves additional risks that may not arise during regular market hours. These risks include, but are not limited to: a. Reduced Liquidity Risk There may be fewer market participants during Extended Hours Trading which can result in lower trading volumes and reduced liquidity. As a result, orders may only be partially executed, may not be executed at all, or may be executed at prices that differ materially from those available during regular market hours. b. Increased Price Volatility Prices may move more rapidly or fluctuate more significantly during Extended Hours Trading due to lower levels of market participation and liquidity. Price movements may occur in response to company announcements, economic data releases, geopolitical events or other information released outside regular market hours. c. Wider Bid and Offer Spreads The difference between the buying price and selling price of an International Security may be substantially wider during Extended Hours Trading than during regular market hours. This may increase the cost of transacting and adversely affect execution outcomes. d. Price Discovery Risk Regular market hours remain the primary source of price discovery for many international markets. Prices established during Extended Hours Trading may not accurately reflect the price at which the security subsequently trades when the primary market opens. e. Order Handling Risk Certain instruments and order types may not be available during Extended Hours Trading and some orders may be cancelled automatically at the conclusion of an overnight or extended trading session. Only specified order types such as Limit orders may be available during Extended Hours Trading. f. Market Data Risk Market data made available during Extended Hours Trading may differ from data available during regular market hours. Market depth, liquidity information and pricing information may be limited, delayed or unavailable. g. Trade Date and Settlement Risk Trades executed during Extended Hours Trading may be assigned a market trade date that differs from the calendar date on which the order is submitted. Settlement cycles may be calculated by reference to the applicable market trade date. h. Corporate Action and Trading Halt Risk Extended Hours Trading may be subject to exchange-imposed trading halts, corporate action processing windows, regulatory restrictions and market intervention measures. These events may prevent trading or affect the execution of orders.
Foreign Currency Risk
Your International Securities will be denominated in a currency other than Australian dollars. Your International Securities will be denominated in a currency other than Australian dollars (AUD).
  • You buy 100 shares at US$50 per share for a total value of US$5,000.
  • You purchase US$5,000 at the rate of A$/US$0.60 and your initial investment cost is A$8,333.33.
  • If the A$/US$ strengthens to the rate of A$/US$0.70, the value of your investment falls to A$7,142.86 assuming no change in the price of the shares.
  • If the A$/US$ weakens to the rate of A$/US$0.50, the value of your investment rises to A$10,000 assuming no change in the price of the shares.
You can see from this example that as the A$ strengthens against US$, the A$ value of your US shares will fall. Of course, the reverse applies – as the A$ weakens against US$, the A$ value of your US shares will rise.
  • You buy 100 shares at USD50 per share for a total value of USD5,000.
  • You purchase USD5,000 at the rate of AUD/USD0.60 and your initial investment cost is AUD8,333.33.
  • If the AUD/USD strengthens to the rate of AUD/USD0.70, the value of your investment falls to AUD7,142.86 assuming no change in the price of the shares.
  • If the AUD/USD weakens to the rate of AUD/USD0.50, the value of your investment rises to AUD10,000 assuming no change in the price of the shares.
You can see from this example that as the AUD strengthens against USD, the AUD value of your USD shares will fall. Of course, the reverse applies – as the AUD weakens against USD, the AUD value of your USD shares will rise.
In Summary Clause
a(v) Clause does not currently exist. (v) trading during Extended Hours Trading, including overnight trading sessions, may expose investors to lower liquidity, increased volatility, wider bid and offer spreads, limited instruments, limited order functionality, market data limitations and trade date variations;
a(vi) Clause does not currently exist. (vi) orders placed during Extended Hours Trading may not be executed, may only be partially executed, or may be cancelled by an exchange, service provider or market operator.
Disclosure
a(v)

Westpac Securities Limited ABN 39 087 924 221, AFSL 233723 (‘Westpac Securities’) (trading as ‘Westpac Share Trading’) provides the opportunity to trade listed financial products through our arrangement with Australian Investment Exchange Limited ABN 71 076 515 930, AFSL 241400 (‘AUSIEX’), a wholly owned subsidiary of Nomura Research Institute, Ltd. (‘NRI’). AUSIEX is a Market Participant of ASX Limited (‘ASX’) and Cboe Australia Pty Ltd (‘Cboe’), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Neither AUSIEX nor Westpac Securities are representatives of each other. Westpac Securities is not a related party of AUSIEX, NRI, ASX or Cboe. Under this arrangement, all trading, clearing, settlement and stock sponsorship arrangements are directly with AUSIEX. AUSIEX is not authorised to carry on business in any jurisdiction other than Australia.

The Westpac Share Trading International Markets service (‘International Markets’) is an international share trading, nominee and custody service provided by Australian Investment Exchange Limited (‘AUSIEX, We, Us, Our’) ABN 71 076 515 930, AFSL 241400, a wholly owned subsidiary of Nomura Research Institute, Ltd. (‘NRI’). AUSIEX has appointed Saxo Bank A/S Company Reg. No: 15731249 as its International Custodian. For full details, please refer to the International Markets Terms and Conditions. You can either request us to mail one to you, or alternatively, call one of our Trading Representatives on 13 13 31 between 8am and 7pm (Sydney time), Monday to Friday.

Westpac Securities Limited (Westpac Securities trading as Westpac Share Trading) (ABN 39 087 924 221, AFSL 233723), provides the opportunity to trade listed financial products through our arrangement with Australian Investment Exchange Limited (AUSIEX) (ABN 71 076 515 930, AFSL 241400), a wholly owned subsidiary of Nomura Research Institute, Ltd. (NRI). AUSIEX is a Market Participant of ASX Limited (ASX) and TMX Australia Exchange Pty Limited (TMX), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Neither AUSIEX nor Westpac Securities are representatives of each other. Westpac Securities is not a related party of AUSIEX, NRI, ASX or TMX. Under this arrangement, all trading, clearing, settlement and stock sponsorship arrangements are directly with AUSIEX. AUSIEX is not authorised to carry on business in any jurisdiction other than Australia.

The Westpac Share Trading International Markets service (International Markets or International Trading) is an international share trading, nominee and custody service provided by AUSIEX. AUSIEX has appointed Saxo Bank A/S Company Reg. No: 15731249 as its International Custodian. For full details, please refer to the International Markets Terms and Conditions. You can either request us to mail one to you, or alternatively, call one of our Trading Representatives on 13 13 31 between 8am and 7pm (Sydney time), Monday to Friday.
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Things you should know disclosure Moved under Important Information

The updated US Exchange Traded Options Product Disclosure Statement (US ETO PDS) will be available to download from 17 November 2026.

Published: 10 November 2026

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