International listed securities

Perpetual supports a choice of stock exchanges. Generally, assets in the Primary Index will meet our approval criteria for a specific investment to be approved. 

The brokerage on international securities is 0.15% of the purchase amount, plus a flat broker fee of $50. This is only for international securities purchased through Perpetual Private Wrap. 

No. Only common stock subject to both market cap and trading volumes are considered. Please note the criteria for international securities to be considered:

• They must be common stock or fully paid ordinary stock;
• They must meet the minimum market capitalisation of AU$500m; and
• They must have daily pricing.

Some Exchange Traded Funds on some markets and American depositary receipts are also available subject to internal reviews and approval.

Before trading in global markets, your clients are required to register for the service by completing the International listed securities registration form. 
 
You can download this form at Adviser Tools by searching for 'International listed securities registration'.

International listed security trading is an additional service that your client can opt into. If your client registers for the service, they’re required to:

• agree to the additional fees associated with investing in and holding international listed securities
• understand the offering by acknowledging the terms and conditions of the service, and
• provide consent for you to trade on their behalf.

 You can commence trading for your client on the day after the registration form has been processed. 

There are specific terms the client must agree to on this form. We recommend reviewing these prior to discussing or recommending international trading with your client.

You can place both Market to Limit and Limit orders when the foreign exchange is closed. These will be queued until the market opens except during the respective Closing Auction phase. This is usually one hour after the exchange is closed (or two hours for the Tokyo Stock Exchange). 

If you place an order during these closed market windows, the order won’t be visible on the Work in Progress screen for that window and the native exchange will reject the order.  

You’ll be notified of this rejection by email.

International listed security prices quoted will be the closing market price for the latest available date with the foreign exchange rate being the closing London 4pm mid spot rate. All reports will quote the value of the security in Australian dollars (A$).

Orders to buy and sell international listed securities can be entered for a given quantity or for a trade value in either Australian dollars (AUD) or in the local currency of the security.

The trade value is an estimated value of units x market price (or limit price if entered). The trade value is quoted in both AUD and local currency and is based on the closing market price for the latest available date, with the foreign exchange rate being the closing London 4pm mid-spot rate. When entering orders with a trade value, trades will be placed on market for the equivalent number of units and may be subject to movement in the market price that will impact the final trade value.

The limit price specified for an order will be denominated in the relevant local currency. You will be required to settle the value of executed orders in Australian dollars and you may be subject to foreign currency movements that may impact the required settlement amount.

Your client can generally retain their listed securities if they close their account. At the client’s request, we’ll transfer in specie these investments to the client where possible. 

To transfer international securities off Perpetual Private Wrap, please contact the Asset Services team: asset.inbox@perpetual.com.au.