Codes used in trading

A company has declared that existing shareholders will receive a bonus in the form of additional securities. For example, a company may declare a 1 for 1 bonus issue. This means that for every one security held by a shareholder they will receive one additional security. If the bonus issue is a 1 for 5 bonus, then shareholders will receive 1 additional security for every 5 securities held. Those holders on the company's register at the record date will be entitled to receive the additional securities. The purchaser of securities cum bonus is entitled to the additional securities. Securities are traded cum bonus until the ex bonus date. Trading in the actual bonus issue begins on the morning of the ex bonus date and ends at the close of trading on the business day the securities are despatched.

A company has declared an amount per security which will be returned to shareholders. The capital return may be in the form of cash or securities. If the capital return is in the form of securities it is treated as a bonus issue in ASX systems. Those holders on the register at the record date will be entitled to receive the distribution. The purchaser of securities cum capital return is entitled to the return of capital. Securities are traded cum capital return until the ex return of capital date.

A company has declared an amount per security which will be provided to shareholders in the form of a dividend. Securities trade on the basis that the securities carry an entitlement to the next dividend payable by the Issuer. The purchaser of securities cum dividend is entitled to the dividend. Securities are traded on a cum dividend basis until the ex dividend date.

A company has declared an entitlement issue. In most instances the issues are non-renounceable issues. The purchaser of securities cum entitlement is allowed to receive the entitlement. Securities are traded on a cum entitlement basis until the ex entitlement date.

During a proportional takeover offer, ASX will establish special trading arrangements while the offer is open in order to comply with the Corporations Act.  ASX will establish market quotations in the securities of the offeree from the commencement of trading on the first trading day after the making of the original offer is advised to the market announcements office.

CF will apply in respect of shares capable of acceptance of the offer.  The 'Cum Offer' market is available for those shares for which the offer may be accepted.

Applies to interest rate securities only. Securities trade on the basis that the securities carry an entitlement to the next interest payment. The purchaser of securities cum interest is entitled to the next interest payment. Securities are traded on a cum interest basis until the Ex Interest date.

This status note is not used on ASX Trade.  However where this flag is disseminated through an ASX signal it indicates that a call is due on the security.

CP displays for one day, on the day the call is due and payable. Generally when a security commences trading on a Call Paid basis, a new trading code is established. In the instance when a new trading code is not established, all orders are purged at the end of the trading day prior to the security being quoted on an CP basis.

Applies to Equal Access Buy Backs. An Equal Access Buy Back (also referred to as an equal access scheme) is an off-market buy back. An equal access scheme is a scheme that satisfies all the following conditions:

a) the offers under the scheme relate only to ordinary shares
b) the offers are to be made to every person who holds ordinary shares to buy back the same percentage of their ordinary shares
c) all of those persons have a reasonable opportunity to accept the offers made to them
d) buy back agreements are not entered into until a specified time for acceptances of offers has closed
e) the terms of all the offers are the same.

The issuer sends notices to every shareholder on the company's register at the record date offering to purchase a percentage of each shareholder's holding. If the shareholder agrees to sell their shares to the issuer, they simply complete and return the form to the issuer. The purchaser of securities cum equal Access Buy Back is entitled to receive the buy back offer. Securities are traded cum equal Access Buy Back until the Ex Equal Access Buy Back date.

Applies to renounceable Rights Issues. The Rights issue may be the right to any tradeable product. The purchaser of securities cum rights is entitled to receive and trade the Rights securities. Securities are traded cum rights until the Ex Rights date. Trading in the Rights securities begins on the morning of the Ex Rights date and ends at the close of business on the Rights Trade Cease date. The renounceable Rights are traded on a deferred settlement basis until the day after the Rights securities are despatched to clients. On the Business day following the despatch date of the Rights, the Rights commence trading on a T+2 settlement basis.

The security is trading on a conditional basis pursuant to ASX Business Rule 2.12.2. Participating Organisations are notified by circular whenever a security is to commence trading on a conditional basis. Details included in the circular cover the conditions which have not been met and the period of conditional trading. If the conditions are not fulfilled by the close of the conditional trading period (specified in the Circular), shares will not be issued or transferred and conditional trades which have occurred since the commencement of the conditional trading period will be cancelled.

Existing shareholders of a listed company (for example, ABC Ltd) will receive "priority" when applying for shares in a company seeking quotation of its securities (for example, XYZ Ltd). As a result, if applications to purchase securities in XYZ Ltd is oversubscribed then existing shareholders of ABC Ltd have priority over other applicants for securities in XYZ Ltd. The purchaser of securities cum priority has preference over other applicants when applying for securities in a specified company. Securities are traded on a cum priority basis until the Ex Priority date.

Applies to Interest Rate Market securities. It indicates that the purchaser of the securities via the prospectus has the right to the first interest payment even if they subsequently sell the securities prior to the Ex Interest date. The purchaser of securities on a New Ex Interest basis is not entitled to the first interest payment. Securities are traded on a New Ex Interest basis from the security's first day of quotation until the first interest payment has been paid.

Protection available may be applied to Company Options when the underlying security goes ex entitlement, ex bonus, Ex Rights or Ex Priority. It indicates that the investor is guaranteed to participate in an entitlement it they exercise their option on that day. The purchaser of securities trading on a Protection Available basis is guaranteed of participating in the entitlement issue. Securities are traded on a Protection Available basis until the Protection Unavailable date.

PU is displayed for a security when the underlying security commences trading on an Ex basis of quotation and remains until the close of business on the applications close date. Protection Unavailable is a warning to Optionholders that if they exercise their option during the underlying security's Ex period they will not receive the entitlement associated with the underlying security. All orders are purged at the end of the trading day prior to the security being quoted on a PU basis.

The reconstruction flag 'RE' is applied from the day the security commences trading on a reconstructed basis and remains for 12 months.

A reconstruction may be a consolidation (reduction in the number of shares on issue) or a share split (increase in the number of shares on issue). So, for example, if there is a 3:1 consolidation then the number of shares are divided by three, i.e. there is now one share for every three (previous) shares. This type of change will usually result in the share price being increased threefold.  Alternatively if there is a 4:1 split, there are now four shares for every one (previous) share, the share price is usually reduced accordingly i.e. divided by four in this case.

All orders are purged at the end of the trading day prior to the security being quoted on an RE basis. A RD status note is also applied to the reconstructed instrument during the period of deferred settlement trading.

XB displays for a security from the morning of the ex bonus date (generally one business day before the record date) and remains until the close of trading on the bonus issue date. Trading in a security displaying XB on ASX Trade does not carry the right to receive the bonus issue. For more information refer to the description of cum bonus. All orders are purged at the end of the trading day prior to the security being quoted on an XB basis.

XC first displays for a security from the morning of the Ex Capital Return date (generally one business day before the record date) and remains until the close of trading on the payment date. Trading in securities displaying XC on ASX Trade does not carry the entitlement to the Return of Capital payment. For more information refer to the description of cum capital return. All orders are purged at the end of the trading day prior to the security being quoted on an XC basis.

XD first displays for a security from the morning of the ex-dividend date (generally one business day before the record date) and remains until the close of trading on the date payable. Trading in securities displaying XD on ASX Trade does not carry the entitlement to the dividend payment. For more information refer to the description of cum dividend. All orders are purged at the end of the trading day prior to the security being quoted on an XD basis.

XE first displays for a security from the morning of the Ex Entitlement date (generally one business day before the record date) and remains until the close of business on application's close date. Trading in securities displaying XE on ASX Trade does not carry the right to securities in the entitlement issue. For more information refer to the description of cum entitlement. All orders are purged at the end of the trading day prior to the security being quoted on an XE basis.

XF first displays for a security not capable of acceptance under a proportional takeover offer.  The ex takeover offer market is available for the retained shares of persons who have accepted the offer (i.e. the shares for which the offer cannot be accepted.  For more information refer to the description of cum takeover offer.

XQ first displays for a security from the morning of the Ex Equal Access Buy Back date (generally one business day before the record date) and remains until the close of business on the day the offer is closed. Trading in securities displaying XQ on ASX Trade does not carry the right to participate in the current buy back. For more information refer to the description of cum equal Access Buy Back. All orders are purged at the end of the trading day prior to the security being quoted on an XQ basis.

XR first displays for a security from the morning of the Ex Rights date (generally one business day before the record date) and remains until the close of business on the application's close date. Trading in securities displaying XR on ASX Trade does not entitle the holder to receive securities in the Rights Issue. For more information refer to the description of cum rights. All orders are purged at the end of the trading day prior to the security being quoted on an XR basis.

XZ first displays for a security from the morning of the Ex Priority date (generally one business day before the record date) and remains until the close of business on the application's close date. Trading in securities displaying XZ on ASX Trade does not entitle the holder to any priority to subscribe to a new issue or float. For more information refer to the description of cum priority. All orders are purged at the end of the trading day prior to the security being quoted on an XZ basis.

Used for Wholesale Interest Rate and Government Loan instruments to indicate that order entry is via the Bulletin Board only as an interest only order.

If a company announcement is disseminated after 4:00 pm, NL appears on the instrument the following trading day and displays for a maximum of one day. If a new company announcement is received on the following trading day, the NL is replaced by NR.

Indicates a company announcement message has been disseminated during the current trading day. Remains for that day only.

Applies to companies that have filed for bankruptcy.

Alerts users that the reset date for a Rolling Instalment Warrant has occurred. A Rolling Instalment Warrant is a long dated instalment warrant. Each year the exercise price may be reset by the issuer. The date the exercise price is reset is referred to as the Reset Date. RC (Rollover Complete) will be applied on the ex-Reset (ex-reconstruction) date. A 'RE' tag will also be applied to the security on this date.

Alerts users that this instrument is currently under reconstruction. When the status note is displayed it is highlighted in red.

Alerts users that the reset date for a Rolling Instalment Warrant is approaching. A Rolling Instalment Warrant is a long dated instalment warrant. Each year the exercise price may be reset by the issuer. The date the exercise price is reset is referred to as the reset date. RP (rollover pending) will be applied to a security to indicate that the reset date is approaching. This status note will be applied to the security from the announcement date (date issuer announces the amended terms of the warrant), which is approximately four weeks prior to the reset date.

Indicates an instrument that trades at 1 tenth of a price step for all price levels.

Indicates an Approved Security for short selling.

Indicates an instrument is in a trading halt. Remains until close of business on following day (unless lifted beforehand).

Indicates that the equity derivative series is associated with an underlying security of an issuer that has declared a change to its ordinary share capital structure which is effective prior to the recommencement of trading in those securities on that day. Trades entered into the associated derivatives series will be on an adjusted basis with the extent of the adjustment published by ASX after trading closes on that date.