Companies and ETFs

These can take anytime from immediately up to 30 days (or not go through at all!). If you place a buy or sell Market 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. 

If you place a buy or sell Limit order for a company or ETF, these wait on-market for up to 30 days for the limit price to be reached. If the limit price isn’t met within 30 days, the Limit order is cancelled. 

Managed funds

NZ Core Fund (Smartshares):
Follows a T+1 settlement time. Which means that the buy and sell orders for this fund are confirmed one trading day after the order is off.

Global Water, Global Property, Global Responsibility (Pathfinder):
Follow a T+2 settlement time. The price for these orders gets confirmed two trading days after we send the order off.

NZ Responsible, Global Shares Index (AMP Capital):

Follow a T+2 settlement time. The price for these orders gets confirmed two trading days after we send the order off.

Australasian Dividend Fund, Global Climate Friendly Fund (Pie Funds) take much longer to settle:

Buying:
Australasian Dividend Fund: T+3 trading days to settle
Global Climate Friendly Fund: T+3 trading days to settle

Selling:
Australasian Dividend Fund: T+23 trading days to settle
Global Climate Friendly Fund: T+5 trading days to settle

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

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