Jurisdiction
These terms and conditions are exclusively governed by and construed in accordance with the laws of the Republic of South Africa
and are subject to the jurisdiction of the courts of the Republic of South Africa.
Important notice:
The investment services and information available on this website are not targeted at residents outside of the
Republic of South Africa. In particular, nothing on this website should be interpreted as targeting persons or entities in
the United States of America, Canada, the United Kingdom, Australia and Hong Kong.
Commencement, duration, termination and suspension
These terms and conditions shall commence and be effective from the date of acceptance thereof by the client and shall continue
indefinitely, provided that the client may terminate the agreement with immediate effect by selecting the "Cancel Registration"
option located under the Account Maintenance section on the website, whereafter the services provided to the client by
Absa Stockbrokers will immediately be terminated.
Absa Stockbrokers shall be entitled to terminate this agreement on 30 (thirty) days' written notice to the client.
Absa Stockbrokers may give the termination notice to the client by publication on the website, or by email or any other
communication tool.
Absa Stockbrokers may temporarily suspend the use of this website to repair, maintain, upgrade, replace or improve any
information or services contained within the website.
Where circumstances permit, Absa Stockbrokers shall use its best endeavours to provide prior notice of any such suspension to
the client. Absa Stockbrokers shall restore the use of this website as soon as reasonably practicable after any such
temporary suspension.
The system
The website displays all open orders as well as the last 20 completed, expired or cancelled orders.
JSE™ prices are supplied by the JSE™. The Absa Stockbrokers Online Share Trading service gives you access to
JSE™ prices on a 15-minute delayed basis and live prices when placing an order.
Conversion of accounts and splitting of portfolios
Existing clients of Absa Stockbrokers who have portfolio or normal telephonic trading accounts may want to convert their
accounts to online accounts. The online registration process must be followed and all relevant documentation, including a letter
instructing us to transfer all the shares and cash balances from the existing account. Please state the account number.
The new online account will be activated within 48 hours (during a business week) of the original instruction letter being received.
Clients who want to split their existing portfolio should complete the registration process; including signing the mandate and
enclosing all the relevant documentation, including a letter to Absa Stockbrokers instructing us as to which shares should be
transferred.
Non-resident investors
It is important that non-resident accountholders declare this fact when they complete the mandate. Failure to do so could be deemed
to be a contravention of foreign exchange regulations.
South African non-residents will need to contact us for our non-resident trust account details when transferring funds.
Placing orders
This service is only available to accounts registered to trade shares online.
Orders placed in the Online Trading System will only be entered into the JSE™ Trading System once the market opens.
The JSE™ is open for trading from 09:00 to 17:00 (GMT+2), Monday to Friday, excluding Christmas Eve and New Year's Eve where,
if applicable, the market closes at 12:00. The JSE™ is closed on South African public holidays.
For any order to be executed, there needs to be a corresponding counterparty, thus for "buy" orders, a corresponding offer
is required and for "sell" orders, a corresponding bid needs to be available. All orders are matched on price only, therefore if
insufficient shares are available to match an order completely, then the order may be only partially executed.
Orders placed "At Market" will be executed immediately, in part or in full, at the best price, assuming there is a counterparty
available. If there is no bid or offer available, orders will be placed at the ruling price. It is therefore strongly recommended
that for illiquid stocks and in particular warrants, orders are placed "At Limit".
An "At Limit" order determines the maximum price (buy) or minimum price (sell) at which the share is to be traded. If, however,
the order can be executed at a better price at that point in time, the client will benefit. An "At Limit" order will be queued in
time and price priority and will only be executed once all orders ahead of it in the queue have been executed.
Once an order has been submitted, the order will appear under the "Today's Order Book" schedule until such time as the order is
executed, cancelled or it expires. Email confirmation will be sent to the client when:
- an order is placed on the Online Trading System
- an order is entered into the JSE™ Trading System
- an order is executed or partially executed
- an order is cancelled or it expires
Customer communications
An email message will be deemed to be sent by:
- The client, at the time at which Absa Stockbrokers is capable of accessing such message;
- Absa Stockbrokers, at the time shown on the message as having been sent, or if not so shown, at the time shown on
Absa Stockbrokers' computer system as having been sent.
An email message is deemed to be received by:
- The client, once it becomes capable of being retrieved by the client;
- Absa Stockbrokers, once we have confirmed receipt thereof to the client or responded thereto, whichever is the earlier.
An email message shall be attributed to:
- The client, if it purports to have originated from the client, irrespective of the fact that someone else may have
impersonated the client or whether the message sent to Absa Stockbrokers resulted from an error or malfunction in the
communication system;
- Absa Stockbrokers, if it has been sent by a duly authorised representative and such representative acted within the scope
of such authority or by an automated system programmed by Absa Stockbrokers and such system operated without error or malfunction.
Unauthorised use of access codes
The client must keep his/her password secret. The client must not disclose this password, thereby giving access to any
unauthorised person. The client must take all reasonable precautions to prevent unauthorised use of the services provided via the
website including unauthorised access to the Absa Stockbrokers Online Share Trading service. If the client suspects that any
person has obtained unauthorised access to their account, the client must immediately notify Absa Stockbrokers on 011 647 0888
during office hours and immediately change the password. If a client elects to ordinarily change their password, this may be
done via the website.
If any unauthorised person obtains the password in any manner whatsoever, such a person will be regarded as the client's
duly authorised agent with full authority to access the website and use the services provided on the client's behalf, unless
the client is able to prove that the person has obtained the password due to Absa Stockbrokers' negligence or due to internal
fraud in Absa Stockbrokers. Absa Stockbrokers shall not be liable for any and all claims, losses and / or damages
whether direct, indirect, special or consequential and / or any expense of any nature whatsoever which may be
incurred by the client in the event of any unauthorised person using the Absa Stockbrokers website as the client except
where any unauthorised person obtained the clients password due to Absa Stockbrokers' negligence, or due to internal fraud in
Absa Stockbrokers.
Statements
Absa Stockbrokers will upon the client's request forward to the client monthly statements and contract notes via email.
The client must register for this service, under the "Secure Email Password" link located under the maintaining my account
section of the website. The email forwarded to the client will be encrypted. It is the client's responsibility to ensure that
the email address provided is correct and functional. Absa Stockbrokers will not be responsible if the client fails to receive
their statement by virtue of the client providing an incorrect email address or one which is inoperative.
Disclaimer
Absa Stockbrokers, McGregor BFA, Business Genetics, MCI, the JSE™ and any other third-party supplier who Absa Stockbrokers
relies on for providing information and/or support services in respect of the website (collectively referred to
as "Responsible Parties"), cannot be held liable for information and/or services contained on the website which is beyond their
control. Although care and skill is exercised by the Responsible Parties in the provision of the information and/or services,
they do not warrant the truth, accuracy or completeness of the information and/or services provided and disclaim all liability for
any and all claims, losses and/or damages whether direct, indirect, special or consequential and/or any expense of any nature
whatsoever which may be incurred by the client by relying on and/or using any information and/or service contained within the website.
As stipulated above, although care is taken by Absa Stockbrokers to ensure the accuracy and integrity of the information
and / or services provided on the website, such information and / or services are provided "as is".
Absa Stockbrokers makes no representations or warranties, express or implied, with respect to the accuracy of the information
and / or services contained within the website. Absa Stockbrokers, its employees, as well as any of its affiliated
companies, disclaims liability for any and all claims, losses and / or damages whether direct, indirect, special or
consequential and / or any expense of any nature whatsoever which may be incurred by the client by relying on
and / or using any information and / or service contained within the website. All copyright and database
rights in the website belong to Absa Stockbrokers except for the JSE™-related information as stipulated below.
The information and services provided on this website should not be treated as professional or investment advice. The client
should consult with a professional adviser before relying on any information and / or service on this website.
Absa Stockbrokers is licensed by the JSE™ to publish JSE™-related information. The JSE™ shall not be
responsible for any error or omission in such published JSE™ information. All copyright and database rights in the
JSE™ information belong to the JSE™. Redistribution of the data comprising the JSE™ information is not
permitted without the express prior written consent of the JSE™. You agree to acquaint yourself with and comply
with any restrictions or conditions imposed upon the use, access or storage of the JSE™ information as may be
required by the JSE™. You further agree to acquaint yourself with the relevant JSE™ Rules and Directives.
