How to sell your Issuer Sponsored shares (SRN sale)

Placing an Issuer Sponsored sell order on your Westpac Share Trading account is quick and simple. Follow the below steps to place an order with us today.

Before proceeding, please ensure the following criteria has been satisfied:

  • Confirm with the share registry you have a valid Shareholder Reference Number (SRN) for the shares you wish to sell
  • You own tradeable units
  • The shares you wish to sell must be registered in the same name and address as reflected on your Westpac Share Trading account.
Settlement Overdue Illustration

How to place an online SRN sale order

To view the order pad, select Trading > Share Orders > Place Order.

The order pad will launch and require the fields marked with an asterisk to be filled. For example:

SRN Order Pad
  1. Select the trading account that matches the name of the Issuer shares you are selling.
  2. Select SELL as the Order Type
  3. Enter the security code or company name for the shares you wish to sell.
  4. Enter the quantity of shares or the maximum dollar value you wish to sell. If you enter a dollar value, we will calculate the maximum number of shares that will result in your order not exceeding the amount you have entered.
  5. Specify the Price Limit per share at which you would like to sell (this is the minimum amount you are willing to sell each unit for). Alternatively, select At Market if you wish to trade when the market is open, at the current prevailing market price.
  6. Select your order expiry date (up to 21 calendar days) or select Good for Day, this means if your order is not executed (filled) by the end of the trading day, it will automatically be cancelled.

  7. Select settlement type. To place an SRN sale, click Issuer Sponsored SRN. Enter your SRN starting with ‘I’ or ‘C’.

    Important: ensure that the SRN provided is accurate and valid, as it cannot be amended after the order is placed. To avoid any delays or errors, double-check the SRN with the share registry.

  8. Click on Proceed to review your order before submitting to market*.

*The order may undergo a brief review process after submission, and once it is approved, it will follow the same settlement process as a normal sale order.

Important to Note:

  • ‘At Market’ orders can only be placed during market hours (10:00am to 4:00pm, Sydney time (AEST) on ASX trading days).
  • SRN sale orders that are completed will incur an additional cost per SRN sale, in addition to the brokerage amount. Please refer to our FSG for more detail.
  • Some orders may be reviewed by our trading desk after being submitted into the system to ensure all pre-determined requirements are met. As a result, your order may temporarily remain in an outstanding status. This review process is typically completed promptly once an order is received.

This information is intended to provide information for educational purposes only and is subject to change at anytime without notice.