News

Date Issued:

10 August 2024

16 June 2026

1.6 International Custodian means Saxo Capital Markets (Australia) Limited (ABN 32 110 128 286 AFSL No. 280372 or any other person We select to hold Your International Securities in accordance with these Terms and Conditions;

1.14 International Custodian means Saxo Bank A/S Company Reg. No: 15731249; their sub-custodian or any other person We select to hold Your International Securities in accordance with these Terms and Conditions;

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2.12 You authorise Us to accept instructions on Your behalf from Your authorised representative(s) and You confirm that Your authorised representative (s) has/have the power to do the following in Your name and on Your behalf from time to time to:
a. give instructions to Us on Your behalf; and
b. access the Trading Site and use the Services.

3.0 YOUR FUNDING ACCOUNT (old)

PART 3 - YOUR FUNDING ACCOUNT (new)

3.1 We or Our Agent may deposit in one or more Funding Accounts, all monies received on Your behalf relating to the Portfolio. A Funding Account may be held in Our name, or that of the Agent (as We consider Our Agent to be advisable as required for legitimate business purposes) or You. Any such Funding Account may be a multi-currency account and may be on the Terms and Conditions imposed by any Agent of ours who holds a Funding Account on Your behalf. You agree to pay Us or Our Agent, all fees and charges and indemnify Us for any liabilities arising from the operation of cash accounts by either Us or Our Agent on Your behalf.

3.2 An Australian Dollar (AUD) denominated Funding Account will be made available to You. You may choose to elect for a multi-currency funding structure where You will be allocated one or more foreign currency Funding Accounts.

3.1 We or Our Agent may deposit in one or more Funding Accounts, all monies received on Your behalf relating to the Portfolio. A Funding Account may be held in Our name, or that of the Agent (as We consider Our Agent to be advisable as required for legitimate business purposes) or You. Any such Funding Account may be a multi-currency account and may be on the Terms and Conditions imposed by any Agent of ours who holds a Funding Account on Your behalf. You agree to pay Us or Our Agent, all fees and charges and indemnify Us for any liabilities arising from the operation of cash accounts by either Us or Our Agent on Your behalf. We will retain any interest that may be earned on this account.

3.2 An Australian Dollar (AUD) denominated Funding Account will be made available to You. You may choose to elect for a multi-currency funding structure where You will be allocated one or more foreign currency Funding Accounts. You acknowledge that we may retain any interest earned on monies held in any foreign currency wallet.

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5.5 Before placing a buy order, You must transfer Australian dollars into Your International Markets AUD Wallet from Your nominated Cash Account or YOUR AUSIEX Cash Account. The funds in Your International Markets AUD Wallet, held in the Funding Account, must be sufficient to cover the obligations of any resulting transaction. This includes accounting for the prevailing foreign exchange rate, a buffer for potential currency fluctuations, and any other associated costs.

5.10 a) If market orders are submitted outside of Exchange market hours, You acknowledge that there are risks involved that are not usually incurred when trading during regular market hours, including but not limited to, by; lower liquidity, higher volatility, changing prices, wider price spreads, and timings associated with your transaction date and Corporate Action and News Announcement Events. You agree that where You use these features or trading outside regular Exchange market hours that You accept the associated risks.
b) When You place a buy order outside of Exchange market hours, We may withhold an amount greater than the estimated transaction cost to cover potential fluctuations or transaction fees.
c) Further, there are significant risks in placing market orders or leaving an unexecuted order open at the close of the trading session, including but not limited to, significant price shifts from the market prices prevailing at the time the order was placed.

10.0 FEES AND CHARGES AND SET OFF (old)

PART 11 - FEES AND CHARGES AND SET OFF (new)

10.2 You agree that if You fail to pay any amount due and payable under these Terms and Conditions, We or Our Agent may apply any cash held by Us, Our Agents or You and may sell or dispose of any International Securities under Our control or the control of Our Agents or any other securities of yours under Our control, and apply the proceeds in satisfaction of the monies owing by You and in payment of any reasonable additional charges incurred by Us. You will be liable to Us for any shortfall or entitled to any surplus proceeds and You agree to bear the foreign exchange risk associated with any such application of cash. We are not responsible for any tax implications, losses or gains.

10.3 Without limiting any other rights We have under these Terms and Conditions, We are entitled to, set off amounts due to Us against amounts We hold for You in any account or via direct debit, including but not limited to Your cash accounts. Where We’ve incurred additional costs, We’ll either set off or direct debit funds from Your account or payment from You, either verbally or in writing.

10.4 In limited circumstances, We may combine or set off the whole or any part of Your cash account to pay any outstanding debt You may have with Us, such as a debit balance in another account You hold with Us. If We have a legitimate business requirement to do this, We’ll immediately notify You after doing so. This includes combining any of Your bank accounts held with Us, and applies whether or not the account is subject to notice, or whether the account has matured or the amount is due.

11.2 You agree that if You fail to pay any amount due and payable under these Terms and Conditions, We or Our Agent may apply any cash held by Us, Our Agents or You and may sell or dispose of any International Securities under Our control or the control of Our Agents or any other securities of yours under Our control, and apply the proceeds in satisfaction of the monies owing by You and in payment of any reasonable additional charges incurred by Us. You will be liable to Us for any shortfall or entitled to any surplus proceeds and You agree to bear the foreign exchange risk associated with any such application of cash. We also reserve the right to convert available funds in any of Your Accounts into the necessary currency to cover any shortfall, without prior notice. Any required foreign currency conversion will be executed immediately. We are not responsible for any tax implications, losses or gains.

11.3 Without limiting any other rights We have under these Terms and Conditions, We are entitled to, set off amounts due to Us against amounts We hold for You in any account or via direct debit, including but not limited to Your cash accounts. Where We’ve incurred additional costs, We’ll either set off or direct debit funds from Your account or payment from You, either verbally or in writing. In the event that Your Account holds a negative balance in any currency (i.e., where you owe an amount in a particular currency but do not hold sufficient funds in that currency in your Account)
a. interest will be applied on the negative balance.
b. without limiting any other rights We have under these Terms and Conditions, We are entitled to, set off amounts due to Us against amounts We hold for You in any account or via direct debit, including but not limited to Your Cash Account, Your AUSIEX Cash Account or linked Australian bank account.

11.4 In limited circumstances, We may combine or set off the whole or any part of Your cash account to pay any outstanding debt You may have with Us, such as a debit balance in another account You hold with Us. If We have a legitimate business requirement to do this, We’ll immediately notify You after doing so. This includes combining any of Your bank accounts held with Us, and applies whether or not the account is subject to notice, or whether the account has matured or the amount is due.

18.0 TAXATION (old)

PART 19 - TAXATION (new)

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19.8 Before establishing your account with Us, You must complete and submit a valid W-8 form (ie W-8BEN or W-8BEN-E), as required by the United States Internal Revenue Service (IRS) through Our account setup process.
19.9 You are fully responsible for the accuracy and completeness of the information provided on the W-8 form. Any consequences resulting from the submission of false, misleading, or fraudulent information will be Your sole responsibility.
19.20 Should there be any changes in circumstances, expiry, or updates to the tax form requirements set by the United States IRS You may be required to submit an updated W-8 tax form.
19.21 Failure to maintain a valid and current W-8 may result in a restriction of Your Account at our discretion for legitimate business requirements and/or regulatory reasons.
19.22 AUSIEX is authorised under the Income Tax Assessment Act 1936 (Cth) to ask for your Tax File Number (TFN). If you provide your TFN, Exemption Code or company number, they will apply to all Your Accounts and You authorise disclosure of Your TFN, Exemption Code or company number to third parties, where doing so, is in accordance with applicable taxation law. However, if You don’t provide us with these details, we may be required to deduct withholding tax at the maximum marginal tax rate (plus the Medicare levy) from any investment income You earn on Your Accounts.
19.23 It is not compulsory for You to tell us your TFN, exemption code or company number (if you have one). However, if You do not provide us with those details, we will not be able to activate Your International Markets trading account.