Australian (ASX) Stock Market Forum

Settlement dates

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takestock

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6 February 2008
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Hi

I've been trading off and on for the past few years -after a few false starts I'm regularly trading -just shares.I'm sure that I'll read a great deal of information on these forums.
I suppose my query is directed to people that use Commsec.In the past I had been with Sanford-obviously they were taken over by Commsec.
Intially Commsec seemed to be ok-however,my last trade was in CBA shares.I sold all the CBA shares on MON 3rd ,made a quick and tidy gain :) I was told that the settlement date would be 7th FRI.
I'm wondering doesn't that seem a bit too long?-I realise it was Melbourne Cup week(I live in Vic)but there is approximately $70,000 in limbo:mad:
Am I being too anxious or should I be more wary of trading the day before a holiday?
Any replies -much appreciated.
 
takestock said:
Hi

I've been trading off and on for the past few years -after a few false starts I'm regularly trading -just shares.I'm sure that I'll read a great deal of information on these forums.
I suppose my query is directed to people that use Commsec.In the past I had been with Sanford-obviously they were taken over by Commsec.
Intially Commsec seemed to be ok-however,my last trade was in CBA shares.I sold all the CBA shares on MON 3rd ,made a quick and tidy gain :) I was told that the settlement date would be 7th FRI.
I'm wondering doesn't that seem a bit too long?-I realise it was Melbourne Cup week(I live in Vic)but there is approximately $70,000 in limbo:mad:
Am I being too anxious or should I be more wary of trading the day before a holiday?
Any replies -much appreciated.
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it was forewarned as a non settlement date , unfortunate it caught you
 
Re: Settlement dates-

commsec are T+3 settlement and thats three business days so weekends and holidays are taken out of the equation
 
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