Trade using an external broker

To successfully trade on a client’s account, the external broker will need to be nominated prior to submitting the trade request with the broker (see below).

To trade on a client’s account using an external broker, the broker must have their systems set up to settle with us. The broker notification form is designed to help the broker set up this arrangement at their end. 

Once the broker has confirmed the client’s broking account is set up, contact can be made with the nominated external broker to place the authorised trade. 

Once the trade is executed by the external broker, they will send a trade file to us to settle the trade. The client must hold sufficient cash (buy) or shares (sell) for the trade to settle. Minimum cash balances must be considered in determining whether an account has sufficient cash. 

It’s important to allow a buffer to account for market movement where trading at market and any brokerage the broker may apply. If the trade won’t be able to settle, we’ll follow up with the adviser regarding the failing trade.

Macquarie Equities Limited will be loaded as the authorised broker upon account opening. Loading this is a requirement to trade Australian listed securities. However, an external broker can be loaded on accounts to allow trades in Australian listed securities on the account where the trade instruction isn’t entered into the platform directly. 

To load an external broker on a client’s new account we require:

• The external broker nominated during the application process.

To load an external broker on a client's existing account we require: 

• An external broker nomination form signed by the client. This can be found by searching External broker nomination form on Adviser Tools.

This form can be signed by the client either with a wet signature or with an e-signature.  

Please note:

• The broker must be available on the external broker nomination form
• Once nominated, external brokers do not obtain online access on the account and do not receive information on the account
• A broker notification form can be sent to the broker to help provide instruction on how to settle trades to the client’s account. This is a one-off process and doesn’t need to be undertaken for each trade.

1. Log in to Adviser Online
2. Search for the account by either account name or number in the global account search bar
3. Select Reporting
4. Select the appropriate date range
5. Select the tick box next to Account Details
6. Click Generate. A new window with the account details report will open.
7. If your client has an authorised broker, they will be shown on the report under Share Trading Details.

Can’t see the report? 
 
If you’re having trouble seeing the account details report, make sure that you’re clicking continue and not return. 

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