DJ Carmichael has strong international broking connections. We have arrangements in place to deal into the United Kingdom, all European markets, Northern America (USA and Canada) and the Asian markets of Hong Kong and Singapore.
Because we have been executing orders into our dealer network since early 2000, our business has a strong focus on tailored execution and service. Where possible, we have always made the effort to report back to our clients on all order execution in a timely and efficient manner.
How do we do it?
We have in place several procedures for international dealing. Our primary requisite is to have all client orders for the international market on our order book by 3pm WST. Our dealing team will pass on all order instructions with regard to price and volume to our counterparties.
What do you need to do?
International clients are required to complete:
- International Account Opening Forms
- Identification Documentation (Anti Money Laundering Requirements)
- W8BEN Forms
What other services are there for an International client?
Our International Trading Service is conducted on an "execution only" basis and no personal advice is given. We have an extensive network of research houses in Australia. Through this major network we can provide our clients with up to the minute research on most Australian stocks.
S 708 investors have the opportunity to participate in capital raisings.
How do you cover the currency exposure?
Once we have executed the trade as per our clients’ instruction, settlement date and foreign currency exchange rate is locked in. Most UK trades by way of example are settled T+2 and settlement dates for any market in which you transact will be specified on your confirmation. Once executed, your trade is booked for settlement in Australian dollars, so you have certainty regarding the settlement amount.
Certificated Paper versus the CREST system, what are they and how do you settle overseas trades?
Most markets around the world have done away with paper share certificates. There are exceptions around the world. Where there are certificated holdings we generally require shareholders to sign additional documentation to release those shares for settlement prior to trading. Please note this can delay a transaction for a prolonged period of time (up to 20 working days in some instances), so we encourage clients to act early so as to avoid the situation where they cant sell a shareholding (with an unwanted falling share price) through that administration period. In the United Kingdom they have CREST which is a system similar to the Australian CHESS system. Certificated holdings can be converted onto the CREST system within 24 hours (once the paperwork is with our overseas brokers). This will enable our clients to settle their trades within the generally accepted settlement period.
Do you provide a nominee service for overseas markets?
We use Pershing Securities Australia Pty Ltd for transactions in international markets. The client enters into an agreement with Pershing Securities Australia Pty Ltd and they arrange to enter into transactions with an international broker on the client's behalf, in the name of Pershing Nominees.
The overseas markets are trading throughout the Australian evening (UK market) and following morning (US market), how do I know what happens with an order for the US market for example?
You will receive a trade confirmation after your order has been executed.
With world stock markets at such a critical juncture, can DJ Carmichael recommend a portfolio of overseas shares to me?
Unfortunately, we cannot recommend a portfolio of overseas shares to you. Our service is an "execution only" service with no personal advice provided on international shares.
What happens if I want to place a trade when the international market is not open?
Where permitted, your order will be placed on the relevant market for execution during normal trading hours. International time differences may lead to delays in the receipt of instructions and execution of the order.
The International Team
Senior Investment Adviser
Toby has been in the finance service industry for more than 10 years joining DJ Carmichael in 2004. During this time he has worked with retail, corporate and institutional clients with his services incorporating investment and superannuation portfolio management, wealth creation strategies, strategic investment and asset allocation advice. With his extensive experience and expertise, Toby researches and pursues excellent investment opportunities across a broad spectrum of investments and global markets.
Toby is RG146 compliant and is licensed by DJ Carmichael to offer the following financial services:
- Managed Funds
- Margin Lending
- International Equities
Zac commenced at DJ Carmichael as an intern in 2013, while completing his Bachelor of Commerce. After completing his degree (majoring in Finance), Zac began full time employment with DJ Carmichael as a Dealers Assistant before being promoted to an Investment Adviser.
Zac is RG146 accredited in cash and deposit products, securities and managed investments. He has a strong focus on customer service and strives on building lasting relationships with his clients in order to achieve their financial objectives.