What's daily order processing?
This means orders will be batched into processing at 12.05 pm on business days, depending on when they were placed. The exception being New Zealand national public holidays, in which case orders are processed the next business day.
More frequent updates
Portfolio valuations, graphs and platform numbers will be updated more frequently. With daily order processing comes more frequent unit pricing, which means your Kernel dashboard will be updated more frequently.
How long will the orders take to process?
Order settlement is moving to the industry-standard T+2. This simply means your order will be settled within two business days from the time (T) it is processed.
Here's an example:
If you place an order on Monday at 11 am, this order will start processing at 12 pm.
It will show in your transaction history as processing, whilst settlement completes within two business days.
Sometime around Wednesday midday, you'll see this order as complete, with unit pricing and details of the order showing on your dashboard.
The valuation and order will be reflected as Monday's date.
What if my order is showing as 'awaiting payment?'
This is a buy order that has been placed without having funds available in your wallet.
This order will show as “awaiting payment” until the total amount of the order is available in your wallet.
Each business day at 10 am, our system will check your wallet balance. If there is enough money in the wallet to cover the total order amount, your order will be automatically placed and processed as usual.
If there are multiple orders awaiting payment, they will be processed in the order placed, regardless of value.
Here's an example:
If you place an order that is awaiting payment for $200 on Monday, then on Tuesday place a second order for $100. Then deposit $100 to your wallet. Neither of the orders will be processed.
As the first order of $200 needs to be processed before the second $100 order can be processed.
Want to change or cancel the order?
You may cancel your order at any time before it is accepted and processed. You can find how to cancel orders here.
What happens to my order if I place it after 12 pm?
If you place an order after 12 pm on a business day, it will remain pending until 12 pm on the next trading day. For example, if you place an order on Friday at 4 pm, your order will begin processing on Monday at 12 pm (assuming Monday isn’t a public holiday).
What does this mean for sell orders?
Once you place a sell order, it will be processed on the next business day at 12 pm. Your money will then become available in your Kernel wallet two business days after the processing time.
What does this mean for my auto-invest?
Your auto-invest will continue exactly as it did before. But with the bonus of being traded daily. You can set your Auto-invest to be any day of the week.