Our trading services are designed to maximise liquidity in the stocks traded on them whilst maintaining the integrity of a fair and orderly market place.
Click on either options below to find easy to follow instructions on how to trade SIM VSE stocks.
Order Entry
Broker participants are required to trade using the NETS direct market interface, which is installed directly on to the trader's computer. NETS compares buying and selling orders entered into the system and automatically executes trades in strict time/price priority whenever two orders match.
An alternative market interface may be used is approved by SIM VSE.
SIM VSE does not enter trades on behalf of broker participants. Nor can SIM VSE enter orders direct from investors as this would conflict with SIM VSE's regulation of the market. SIM VSE has the power to request cancellation of trades in order to maintain an orderly market.
Market data is available from a number of sources in addition to the direct market access page.
Exchange trading hours are Monday to Friday between 10am and 4.15pm Australian Eastern Standard Time.
Clearing and Settlement
All companies who apply to be listed on SIM VSE are required to be registered for CHESS Settlement. As such, it is a requirement that a broker participant settle trades via CHESS**. The settlement of transactions on SIM VSE occur using CHESS.
Settlement can be arranged by direct participation in CHESS, however there are circumstances where trades may be settled via an alternative agent approved by SIM VSE.
SIM VSE allocated a unique CHESS PID to each broker participant which is used to settle trades on that broker's behalf.
Settlement fees are determined by CHESS and directly passed through by SIM VSE.
Broker Supervision
SIM VSE is a regulated exchange. One of the responsibilities of the exchange under the requirements of its market licence is to monitor broker participants. This is achieved by:
- Receipt of a monthly surplus liquid funds report
- Analysis of an annual assessment
- Site visits by the SIM VSE Compliance Officer
- SIM VSE has signed an information sharing MOU with ASX which encompasses common brokers
- SIM VSE business rules allow a range of disciplinary action to be undertaken depending on the severity of a breach.
Surplus liquid funds
SIM VSE monitors the capital adequacy of each of its brokers by receiving a monthly report detailing the capital reserves of the broker. This report is analysed by the Exchange Accountant.
For Individuals
For investors, trading on SIM VSE is a matter of contacting a SIM VSE broker. In some cases, if your broker is not a SIM SVE broker, they may accept orders and pass these onto SIM VSE brokers. Once trades have been executed, then settlement is on a T+3 or trade today and settle in three business days hence.
As all companies listed on the exchange are registered with ASTC CHESS, investors trading in these stocks receive holding statement reports. Find out more about ASTC CHESS.
Orders can be placed with brokers during normal office hours, but that execution of trades takes place between 10.00am and 4.15pm Monday to Friday. National public holidays are non-business days. Settlement days follow the ASTC CHESS Calendar.
If your broker is not a broker of SIM VSE, ask them to contact us and we will work with your broker to find a solution. Alternatively, you may choose to contact an existing SIM VSE Broker.
Market Phase
| Market Phase | Time | Description | |
|---|---|---|---|
| Start of Day Enquiry | eng | 02:30-03:00 | Market is visible for viewing access only. Enquiry mode. |
| Pre-Open | pre | 03:00-10:00 | Orders may be entered, amended or withdrawn during this period but no matching takes place. Overnight crossings must be reported. |
| Normal | nml | 10:00-16:00 | Trading commences. Orders may be entered, amended or withdrawn during this period. Orders are matched on entry. |
| Pre-Open prior to Closing | cls | 16:00-16:04 | The market is placed in Pre-open again. Orders can still be entered, amended and withdrawn but no matching takes place. |
| Closing Single Price Auction | nml | 16:04-16:05 | Orders may be entered, amended and withdrawn but will now be automatically matched prior to closing. |
| Closing | cls | 16:05-16:10 | This session is for market adjustment after trading ends. Orders can still be entered, amended or withdrawn however no matching occurs. Crossings must be reported. |
| After Hours Adjust | aha | 16:10-16:15 | Orders can no longer be entered, however they can still be withdrawn and amended (but only to reduce quantity). Crossings must be reported. |
| End of Day Enquiry | enq | 16:15-23:00 | Market is visible for viewing access only. |
| Shutdown | 23:00-02:30 | System is not accessible. System Maintenance. |
