When a trade is placed on platform, it will show on the transactions list and this will have the status of Pending, which means the order has been routed to market and is awaiting execution i.e. at the next dealing point.

Where you are conducting a switch between two funds or a rebalance, the linked trades i.e. the buys, will generate with a ‘waiting’ status.

We operate contractual settlement, which means the system will match the settlement date of the buys and sells to minimize the client’s time out of the market. Traditionally, for a switch or rebalance, you would have to wait for all of the sales to settle before the buys can commence. On our platform, once we have the contract notes back from the fund manager for the sales, we can trigger the buys before we have received the sale proceeds. Dependent on the funds, we would expect a buy or a sell to take approximately 4/5 working days, and a switch or a rebalance to take approximately 5/6 working days.