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GST will be charged on all mentioned commissions, subscriptions and any other charges debited to your account.
If you are an overseas resident, GST is not applicable on your commissions, subscriptions and any other charges debited to your account.
WebIRESS is available FREE of charge if a minimum number of trades (as per the Financial Services Guide) are done in a month. If less than that minimum number of trades are done in a month, you will be charged as per the schedule of fees, for the monthly subscription for WebIRESS. HTMLIRESS is available FREE of charge if a minimum balance of $5000 is maintained in the trading account.
You will be contacted by us to top up your balance to continue using the HTMLIRESS trading platform.
No you will be given an opportunity to top up your account or have your access to the HTMLIRESS platform turned off.
To set up access to WebIRESS a deposit of the subscription fee is required to be made to your account. If the required number of trades (as per our Financial Services Guide), to gain free access to the platform have not been achieved in that calendar month, the fee will be debited from your account (or at our discretion invoiced to you) in arrears on the last day of the calendar month.
Please note WebIRESS will be charged at a whole month’s rate regardless of how many days in that calendar month it is available.
Yes you can do this, however please be advised that WebIRESS charges will be applied in full per calendar month. Cancellations or changes to/from WebIRESS mid month will still be charged the full monthly fee unless the required amount of trades as per our Financial Services Guide have been completed to gain free access.
Yes, the charges will still be applied regardless of having logged in or not. If you do not want to be charged you may request us in writing to cancel or suspend your access before the month has started.
These charges are only applicable to clients trading online through our trading platform. For a full description of the charges, please see our Commission Structure
To have your account set up as a Day Trader account you will have to apply for a new account once the account has been set up and you receive your welcome letter, send us a request in writing to have it activated as a Day Trader account. For a full description of the charges, please see our Commission Structure
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You can open your account by using the Join Now link. Alternatively you can download and complete the application form and post that in to us with the required supporting documents. You can also contact us if you wish to request an application form or any other documents you may require.
You can call our office on 1300 886 010 * between 8:30 am and 5.30 pm AEST on weekdays
You have the choice between an Individual; Joint; Company; Sole Trader; Trust; or an Association Accounts.
You should receive your new account details in between 1-3 business days, of receiving your successfully completed application. You will be notified as soon as the account is open.
Yes, you must complete the Authorised Agent details in the client application form to nominate someone else to operate your account.
After receiving your account details you can transfer money or stock into your account. Once the cleared funds or stock have been received in your account, you will be able to start trading.
If you have chosen to trade online, a login and password will be emailed to you to access the trading platform.
With the introduction of the Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Act 2006 we are required by law to identify all applicants. You must provide at least 2 valid forms of identification to verify your identity.
(Note: Your identification MUST EXACTLY MATCH the name you use on your application)
No, you do not have to provide your Tax File Number or an Exemption Code when you apply for an account.
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No. It is absolutely FREE to join Morrison Securities.
No Minimum Balance is required to open a trading account, although if you are trading online via HTMLIRESS, a minimum balance of $5,000 is needed to gain access to the trading platform.
For equities and options trading accounts, you may electronically transfer money into our trust account (the details of which are below). Clearly reference it with the trading account number that has been assigned to you by Morrison Securities. If you haven't been issued a trading account number as yet, please reference the transfer with your full name.
Account Name: Morrison Securities Pty Ltd - Trust A/C
Bank: Commonwealth Bank of Australia
BSB: 062-000
Account: 1265 6396
If you are trading SFE Futures, you may electronically transfer money into the Client Segregated Account (the details of which are below), clearly referencing it with the trading account number that has been assigned to you by Morrison Securities. If you haven't been issued a trading account number as yet, please reference the transfer with your full name.
Account Name: Morrison Securities Pty Ltd – Client Segregated Account
Bank: Commonwealth Bank of Australia
BSB: 062 000
Account: 1231 8880
Alternately, you may also use BPAY
The Biller Code for Morrison Securities for Equities and Derivatives Accounts is 018218.
The Biller Code for Morrison Securities for Futures and ASX CFD Accounts is 313296.
Please click here to receive your unique BPAY Reference Number.
Please contact our office and inform us of the details of your transfer which would be looked into and verified and if found correct, would be credited to your account. The whole process will be charged as per the schedule of fees applicable at that period of time.
Your funds will be held in our Trust Account or our Client Segregated Account (for SFE Futures). Cheque deposits normally take 5 business days before the funds are available for trading, electronic transfers such as internet transfers are cleared quicker, and usually take 2 business days. You will be able to trade once the funds have been cleared.
Please send us an email (morrison.admin@morrisonsecurities.com) or fax (+61 2 9033 8300) providing us with instructions to transfer the relevant amount to your bank account, along with the details of your account (bank name, BSB, account name and account number). All requests received by 10:00 am would be processed on the same day, subject to availability of cleared funds in your trading account.
No. A new instruction has to be made.
BPAY funds normally clear after 1-2 business days.
You can use your funds to purchase stocks as soon as the sale has been executed.
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Cash Market (Equities)
Orders can only be placed during trading hours. Orders placed via the phone outside trading hours will be queued to be entered in the market during the next trading session.
Options
Orders can be placed only during trading hours. Please note that Option orders are day-only orders.
SFE Futures
For details of SFE Futures trading hours, please click on
http://www.asx.com.au/products/trading-hours-asx24.htm#Equity_Index_Futures_and_Options
No. Morrison Securities does not accept email orders.
If you have traded with us, a Contract Note will be sent to you, giving you the details of the trade (price, quantity, etc).
We normally send out the confirmations by email. However, if you would like a copy of the contract note by mail, an extra fee (as per the schedule of fees) will be charged per contract note.
Please go through the tutorial / help menu provided (as you log in to your WebIRESS / HTMLIRESS account, click on the help menu, select the index tab, and look up “Creating Buy Order” or “Creating Sell Order”) for all the required training.
We will accept buy orders for any volume of stock as long as market rules permit and you have the corresponding cash to pay for the trade.
Placing a sell order over the internet is only allowed for Stocks / Exchange Traded Options that you currently hold on CHESS. You must place any issuer sponsored shares sale orders over the phone. There are no short selling facilities and your order will be denied if you place a short selling order.
You can sell to close Exchange Traded Option positions online but selling to open an Option positions must be placed over the phone.
You may exercise all American Options on or prior to the expiry date. Please contact us by email or fax (+61 2 9033 8300) for the same before 2.30pm.
Please note that the Options will be exercised only if you have the corresponding cash / holdings to support the trade. On expiry, all "in-the-money" Options will automatically be exercised.
Normal phone equities commissions will apply. Please refer to the Commission structure for details
Yes you can amend the price of your order as many times as you like. You can also reduce the quantity of your order; however you will not be able to increase the quantity of your order.
You can amend your order multiple times to execute the remainder of the trade until the order expires.
Keep in mind brokerage is charged per order per day when trades are placed online.
This may be because you have cancelled orders that have been placed on more than 3 occasions, the system will lock you out. Please contact us on 1300 886 010 to have this checked and reset. To avoid this please amend your orders instead of cancelling and replacing them.
We generally request 2 times the ASX Clear margin, however we do reserve the right to change this based on a case by case basis.
For information regarding Short Selling please contact us.
- You can buy to open and / or close a position
- You can sell to close a position.
To sell to open a position or to trade combinations, please phone in these orders.
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Contingent Orders are orders that facilitate the automatic generation of a market order when pre-defined and specific market conditions are met. For example, we can have a Contingent Order specifying that a market order to sell 500 XYZ @ 200 should be created if XYZ trades at 201.
Please note that once the trade is executed (be it fully or partially traded), it will cease to be visible in the Contingent Orders command.
All Contingent Orders expire at close of business on the 28th of every month.
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Under the Forms section on our website, you will find a form to transfer your holdings / positions to Morrison Securities. Once we receive the completed form, we will contact your current broker and get your holdings / positions transferred. Alternatively, you can also instruct your current broker to transfer your holdings / positions over to Morrison Securities.
If you just transfer your holdings / positions individually, you will receive a new HIN number. But if you choose to transfer the entire HIN (with all your holdings) across, your HIN number will remain the same.
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Yes. Please contact us on 1300 886 010 for further information
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When filling the application form, please indicate the desired trading platform you wish to use. As soon as the application has been processed and cleared funds have been received, we will provide you with username and password to access the platform and trade online.
To login, simply type your user ID and password in the respective fields provided on the Morrison Securities homepage. Please make sure that there are no spaces between each character and that the "Caps Lock" light is off (input is case sensitive).
Yes, both our trading platforms (WebIRESS and HTMLIRESS) are real time. The main difference is that the quotes in the WebIRESS system refresh automatically, whereas in the HTMLIRESS version, the quotes will need to be refreshed.
STP is a system for automatic processing of client orders into ASX TRADE. When you have confirmed your order through the Internet trading platform, it will be automatically submitted to the market (ASX TRADE) provided it passes validation criteria. These criteria are based on the ASX Business and Dealing Rules, ASIC Regulations and Morrison's own business rules. If any of one of these criteria does not pass, the order will not be entered into the market and will be rejected back to you. Please contact us on 1300 886 010 for assistance in this event.
Yes. You can currently link your Macquarie Bank CMA account or Adelaide Bank CMA account and trade over the Internet. Please contact us on 1300 886 010 for further information.
Yes. You can access our web site from wherever you want. However online trading access will not be provided for overseas residents.
WebIRESS is available FREE of charge if a minimum number of trades (as per the Financial Services Guide) are done in a month. If less than that minimum number of trades are done in a month, you will be charged as per the schedule of fees, for the monthly subscription for WebIRESS. HTMLIRESS is available FREE of charge if a minimum balance of $5000 is maintained in the trading account.
You will be contacted by us to top up your balance to continue using the HTMLIRESS trading platform.
No you will be given an opportunity to top up your account or have your access to the HTMLIRESS platform turned off.
To set up access to WebIRESS a deposit of the subscription fee is required to be made to your account. If the required number of trades (as per our Financial Services Guide), to gain free access to the platform have not been achieved in that calendar month, the fee will be debited from your account (or at our discretion invoiced to you) in arrears on the last day of the calendar month.
Please also note WebIRESS will be charged at a whole month's rate regardless of how many days in that calendar month it is available.
Yes you can do this, however please be advised that WebIRESS charges will be applied in full per calendar month. So cancellations or changes to or from, WebIRESS mid month will still be charged the full monthly fee or must have completed the required amount of trades as per our Financial Services Guide to get free access.
Yes, the charges will still be applied regardless of having logged in or not. If you do not want to be charged you may request us in writing to cancel or suspend your access before the month has started.
Yes, as long as you are the authorised operator on all accounts. Just send us a signed request from each account holder giving you access to link their account to your login.
These charges are only applicable to clients trading online through our trading platform. For a full description of the charges, please see our Commission Structure
- You can buy to open and / or close a position
- You can sell to close a position.
To sell to open a position or to trade combinations, please phone in these orders.
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Yes you can so long as you have the correct java installed.
Sun Java 1.6.0_11 or above (To download, click here)
Note: For Firefox browser users, a minimum version of Firefox 3 is required to successfully run Sun Java 1.6.0_10 or above
Yes. A proprietary format is used which is unreadable to anything besides IRESS applications.
You may need to clear out your Java Cache, to do this close down Iress.
Then go to My Computer click on the Java icon, under the general tab click settings. Then click Delete Files. Make sure both boxes are ticked and click OK.
Then open a new Web Browser, in the General Tab of the Tools menu, and under Browsing History click Delete. Then click Delete All.
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The most common reasons are:
(a) Your Caps Lock key might be ON - please turn it OFF and try again.
(b) You have already logged in before (possibly on some other computer). If this is the case, you will get a message saying "Login Licence limit exceeded.”
Your orders might not have met the necessary validation criteria. Please make sure that you have sufficient funds in your trading account (if you have a buy position) and / or you have the holdings of the shares / options that you want to sell. If the problem still persists, please call us on 1300 886 010.
You may need to clear out your Java Cache, to do this close down Iress.
Then go to My Computer click on the Java icon, under the general tab click settings. Then click Delete Files. Make sure both boxes are ticked and click OK.
Then open a new Web Browser, in the General Tab of the Tools menu, and under Browsing History click Delete. Then click Delete All.
This may be because you have cancelled orders that have been placed on more than 3 occasions; the system will lock you out. Please contact us on 1300 886 010 to have this checked and reset. To avoid this please amend your orders instead of cancelling and replacing them.
You can change your details by completing the change of details form and returning it back to us by fax, email or post. Alternatively you can change your details on the website once you login.
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A futures contract is a legally binding agreement made between two parties to buy or sell a commodity or financial instrument at an agreed price, on a specified date in the future. With futures contracts, the details of the underlying commodity are specified and the future delivery date is fixed. The price is the only variable and is determined through the interaction of buyers and sellers at the time when the contract is first opened.
Yes, you can sell futures contracts without buying it first, which means taking short positions or commonly referred to as shorting the market.
You can trade all the financial products listed with SFE, of which some key products are SFE SPI 200™ Index Futures, Individual share futures, SFE 3 Year Bond Futures, SFE 10 Year Bond Futures, SFE 90 Day Bank Bill Futures and Exchange traded futures options.
SFE SPI 200™ Index Futures are the benchmark derivative products for investors trading and hedging in the Australian equity index market. SFE SPI 200™ Index Futures enable you to trade movements in the S&P/ASX 200 Index in a single transaction, thereby allowing exposure to Australia's top 200 companies without having to buy or sell shares in every company in the index.
On the SFE several option contracts are traded over futures contracts (commonly known as futures options). For the buyer a future option is the right, not the obligation, to enter into a futures contract at the exercise price of the futures option granted in return for a premium. Looked at from the seller's viewpoint the seller has no right as such (other than a right to the premium). The seller will be under an obligation to enter into a futures contract at the exercise price of the futures option if the option is validly exercised. Like futures contracts options are standardised so that having bought an option it is possible to sell it later to a third party and vice versa.
The minimum allowable price move in a futures contract is called a 'tick.' For example, the minimum 'tick' move in the SPI contract is 1 index point, which currently has a value of A$25.
If you are trading SFE Futures, you may electronically transfer money into the Client Segregated Account (the details of which are below), clearly referencing it with the trading account number that has been assigned to you by Morrison Securities. If you haven't been issued a trading account number as yet, please reference the transfer with your full name.
Account Name: Morrison Securities Pty Ltd – Client Segregated Account
Bank: Commonwealth Bank of Australia
BSB: 062 000
Account: 1231 8880
Alternately, you may also use BPAY (SFE Futures Accounts only). The Biller Code for Morrison Securities is 313296. Please click here to receive your unique BPAY Reference Number.
Contract unit refers to the quantity of the underlying instrument/commodity that the futures contract is based upon. For example, in case of Share Price Index (SPI(R)) futures, the contract value is currently fixed at A$25 x All Ordinaries Index.
As futures contracts essentially represent agreements to buy or sell in the future, investors are able to trade in many different delivery months, e.g. in April you could trade SPI contracts for June, September, December, and in March the following year, and so on. The contract that is closest to maturity (in this example the June contract) is known as the spot month. The other months listed are called forward months.
Futures contracts can be settled either by the exchange or delivery of the underlying commodity or else in cash. In cash settled contract, the holder of the futures contract either receives or pays the difference in cash value between the traded price and the closing futures price. In a deliverable Contract however, the actual transfer of the underlying commodity, takes place between the buyer and seller.
All trading in expiring contracts ceases at 12.00pm on the Third Thursday of the settlement month, unless specified otherwise. Non-expiring contracts will continue to trade as per the stated trading hours.
Yes, future contracts can be bought/sold before expiry. For example, Although the futures contracts purchased were due to expire at the end of June there was no requirement for the trader to hold the contracts until this time. Once opened, a futures contract can be liquidated by the trader at any time (i.e., weeks, days or even minutes after it is first opened). To do this, the trader would simply sell June SPI futures back into the market to offset those originally purchased.
The initial margin is the amount of money that is deposited on each futures contract held as security against adverse price moves in the market.
You need to deposit minimum $15000 as initial margin with Morrison Securities.
Variation or settlement margins, as they are otherwise known, are payments that must be made to cover price movements that occur in the market once a position has already been established. For example, a client would have to pay a variation margin on a bought futures position in the event that the market price for that commodity fell after the position was first established. Alternatively, if the market price rose, the client would receive a variation margin payment with the proceeds being credited to the account
Variation margins must be paid and received on a daily basis. During times of extreme volatility, it is even possible for these margins to be called on an intra-day basis.
If an Investor not been able to meet his variation margin requirements, a broker may liquidate the client's position. The money owed will then be deducted from the initial margin monies that are refunded to the investor.
For a full description of the charges, please see our Commission Structure
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