Settlements & Clearing

Southern Cross Equities partners with Berndale Securities for superior third party clearing and custody services across the domestic and international markets. Berndale is the leading provider of Third Party Clearing and Custody services to the Australian marketplace, and is a wholly owned subsidiary company of the Merrill Lynch Australia Group.

Berndale is separately managed with independent internal reporting lines to assure Southern Cross Equities' clients of upmost confidentiality.

Berndale has one of the most robust and efficient processing systems with a superior technology platform. Our clients benefit from Berndale's global custody and clearing network as well as value added securities lending services.

The strategic relationship between Southern Cross Equities and Berndale supports the trading of ASX equities and derivatives.

Third party clearing has been developed by the ASX as its mechanism to enable clients to be assured that their clearing and settlement counterparty has the prudential capital resources to support institutional trading. Third party clearing is akin to 'Prime Brokerage', the difference being that the clearing and settlement obligation is borne by Berndale rather than Southern Cross Equities. More information on Berndale can be obtained by visiting Berndale's web site at www.berndale.com.au or Contact Us.

Equity Market Settlement Instructions

When instructing your settlement agent/custodian to settle equity trades, the following information should be supplied:

Settlement Clearer: Berndale Securities Limited Swift BIC: BESEAU3MXXX CHESS PID: DVP vs. PID 01113

For more information on settlement instructions Contact Us at Administration.