Companies and ETFs

If you place a buy or sell order for a company or ETF (exchange-traded fund), these process as soon as they are filled during the market’s open hours (between 10am and 4.45pm Monday to Friday). This can often be instantly!

If the market isn’t open, or there is a partial order, these orders will show as ‘pending’.

With companies that are not traded as frequently, they can remain pending, or unfilled for some time. Orders can sit for up to 30 days on the market unfilled before they are cancelled. 

Managed funds

With managed funds, we send the buy and sell orders off to the fund managers at 12.30pm each working day. The managed funds are not traded on market, and they follow the global T+2 settlement time. The Smartshares managed NZ Core Fund is slightly different to the other managed funds available, and follows a T+1 settlement time.

You can read more about our order process on our settlement blog here.
You can read more about partial and unfilled orders here.

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