You can buy, sell and manage assets for your clients through Adviser Online. You can also check the status of existing and previous transactions. Transactions can also be placed via the portfolio transacting functionality in Adviser Online.
You can buy, sell and manage assets for your clients through Adviser Online. You can also check the status of existing and previous transactions. Transactions can also be placed via the portfolio transacting functionality in Adviser Online.
*Please note: When purchasing a new managed investment or Separately Managed Account (SMA) for a retail client, you'll be required to answer questions relating to our regulatory obligations. You’ll also need to confirm whether personal advice has been provided before recommending that the account holder(s) proceed with this transaction. If personal advice hasn't been provided, you’ll need to confirm that the distribution conduct is consistent with the product’s Target Market Determination(s) (TMDs). Where personal advice hasn't been provided and the distribution conduct isn't within the TMD, the transaction won't be able to proceed on a retail account.
If you’d like to place buy orders that will use available cash rather than using the funds from a sell down, please place the buy and sell orders in two different transactions. This involves placing either the buy or sell, authorising the transaction, and then placing the other buy or sell in the following transaction.
Where you’re placing a partial sale that is greater than 94% of the current value of that holding you may be required to either increase the sale to a full redemption or reduce the sale to less than 94% of the current value.
You can place a buy for a managed investment using the proceeds of a sale of another managed investment (daily priced funds and non-daily priced funds which accept daily instructions). The system will automatically create a switch order in which the buy will go to market once the proceeds of the sale are received.
For non-daily priced funds that don't accept daily instructions:
For more information about non-daily priced funds, please review the relevant register:
Please note, non-daily priced funds that accept daily instructions may be subject to longer settlement periods.
Read the sections below to learn more about the different ways to trade in Adviser Online.
Market to limit and limit orders are two different ordering methods for trading securities. The terms relate to the ways in which orders are placed. By knowing how the two order types differ, you can work out which option is best suited to you and your client.
A Market to Limit order is a combination of both types. Like a market order, it’s a request to buy or sell assets at the current market price. If the entire order can’t be filled, then the remaining units retain their current market position as a Limit order. The Limit order’s price is set to the same that the market portion was executed.
Market to Limit orders function as a Market order first. That means that you won’t be able to place the order outside of market opening times.
Market to Limit orders are available on the transaction page under the “execute at” dropdown menu.
If your Market to Limit order didn’t fill, it could have been due to the number of shares being unable to be filled.
A Market to Limit order places a Limit order at the next bid (for sells) or next ask (for buys). If the market price moves away from the set limit price after the order partially fills, it’s possible that the residual units of the trade will not fill if the market price does not come back to the limit price.
You can update the limit price for outstanding Market to Limit trades in Adviser Online.
While you can place Limit orders outside of the markets trading times, you can’t place Market to Limit ones. This is because Market to Limit orders function as a Market order first. This means that you can only place an order while the market is open.
Once the market opens, you’ll be able to place a Market to Limit order.
Trades for Australian listed securities placed online will be executed on the Australian Stock Exchange (ASX) or Cboe Australia in line with the Macquarie Equities Limited (MEL) best execution policy.
Limit orders enable you to set a minimum sell price and a maximum buy price for your securities. Once the market reaches your limit price, it will purchase or sell as many available units as per your request. If the market doesn’t reach your price the order won’t be filled.
You can place a Limit order whenever you want (including outside of market hours). If no trades can be performed at that time, your Limit order will enter the queue to be processed as soon as the market reopens.
You can set the duration of Limit order for one day only or until filled. Please note:
Limit orders are also available as an option on the transaction page in Adviser Online. To place a limit order, click on the ‘execute at’ on the drop-down menu from this page.
A market order is simply an order to buy or sell securities at the best available current market price. Please note the price and the success of the order isn’t guaranteed. It largely depends on the market conditions and the security being traded.
Please note we don’t accept market orders outside of trading hours or for suspended and halted securities.
You can easily check the status of your trades through Adviser Online. As an adviser you’ll be able to see both your client’s outstanding and filled trades.
You can choose to search for a trade by its status. In addition to searching for All trades, you can view transactions that are:
Orders that have successfully completed are generally removed from the work in progress screen. For some orders, it can take up to three weeks for orders to be removed from this screen. You can see all successful order details via the online reports page in Adviser Online.
To view contract note details for the recent five investment transactions in Adviser Online:
A popup will then display the confirmation summary, showing the contract note details for the transaction.
Please note, the confirmation link will only be visible for buy and sell transactions relating to Australian listed securities.
Australian listed securities orders will expire after 22 days. This means the trade will be cancelled if the order isn’t filled before this date. The Work in Progress screen will reflect this change in status.
The ASX may also delete orders from the market at their discretion to ensure market integrity is maintained in various scenarios.
In both situations, you’ll need to create a new order.
The offline contra trading facility is an automated process that allows buy trades to be funded by a combination of sell trades and available cash. The sale proceeds are used to fund the buy order.
No, the platform doesn’t support contra trading. You can place a contra trade order off platform via a nominated external broker for IDPS. Please note you can’t do this for superannuation and/or pension accounts due to pooling time frames.
Please ensure you’ve loaded an external broker against your client’s account before actioning a trade. For more information please refer to Trade using an external broker.
If you have any feedback on this article or need
additional support, please contact us via live chat
or email service@wrapinvest.com.au.