AUSIEX prepares November rules for overnight US trading and broader cash instructions

AUSIEX’s November contract changes will alter how advisers handle US orders outside regular exchange hours and instruct payments from client cash accounts. The international notice, published on 9 October, sets a 9 November effective date for terms supporting 23/5 US trading. It does not establish that this service was already operating on 20 October.[1]

The order rules make the session boundary consequential. Some order types may be unavailable, and unexecuted orders may be cancelled at the end of an extended session, requiring resubmission. Overnight trades may also receive a different trade date. Prices, market depth and data can differ from the regular session. Advisers therefore need to know both when an instruction expires and which trade date governs its settlement.[1]

The domestic share-trading amendments, announced on 8 October and effective on 7 November, expand the description of an authorised operator’s permitted actions. These can include trading, payments and updates to personal details, within the client’s granted authority. The new designated-account framework can allow withdrawals to an account belonging to another person or entity.[2]

That authority has conditions. Adviser-fee deductions require valid consent and a payment direction. AUSIEX adds multifactor authentication and can require documentation, delay or refuse payments for security and compliance checks. The designated withdrawal account is also distinct from the nominated bank account in the client’s name used for deposits and debits.[2]

International Markets Funding Account withdrawals retain a separate restriction: they must be in Australian dollars to the linked nominated bank account. The new cash-account permissions should therefore not be applied indiscriminately across every account component.[1]

The distinction also matters for interest. The share-trading notice permits AUSIEX to retain interest on settlement trust balances; it specifically separates those balances from the AUSIEX Cash Account.[2]

The cash product pays client interest calculated daily and credited monthly. AUSIEX may earn the difference between its return on those funds and the client rate. For an adviser, identifying where money sits determines both the available payment authority and the relevant interest treatment.[3]

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