ASX Limited operates a trade date plus three Business Days (T+3) settlement discipline for securities transactions. The seller therefore has an obligation to deliver "sold" securities on the third Business Day after the transaction, and the buyer has an obligation to pay for those securities on that same day.
The term "Business Day" means a day other than:
- a Saturday, Sunday, New Year's Day, Good Friday, Easter Monday, Christmas Day, Boxing Day; and
- any other day which ASTC notifies Facility Users is not a Business Day.
Settlement in securities does not take place on Non-Business Days, nor is a Non-Business Day counted when calculating the relevant settlement day for securities transactions effected on prior days.
Non-Business Days are currently:
- New Years Day
- Australia Day
- Good Friday
- Easter Monday
- Queens Birthday
- Labour Day (VIC)
- Labour Day (NSW)
- Bank Holiday (NSW)
- Melbourne Cup (VIC)
- Christmas Day
- Boxing Day
Data relating to settlement will subsequently not be reported on these days.