The value date is a future date at which a transaction becomes effective.
Value date for trades
For most security transactions, a two-day settlement date applies, commonly referred to as T+2. Other abbreviations would include T+1, T+2, and T+3. To elaborate, if you were to make a trade, for example, a purchase of 100 shares, the transaction date would be today, when the actual trade occurs. The value date represents the time at which ownership of your shares would be transferred. For shares many would be T+2 or T+1, however, it is important to note that the value date varies depending on the type of security/asset class.
Value date for bank transfers
For bank transfers, the value date represents the date at which the funds are released.
If you make a withdrawal on 14 May and see the value date shows 15 May, in general the funds will be released on 15 May.
Can I withdraw before the value date?
If you sell a position and request to withdraw all of the proceeds from that sale before the trade’s value date, the withdrawal will only be processed after the value date of the trade.
For example, if you have 1,000 USD in cash in your account, sell shares for another 1,000 USD, and then request to withdraw 2,000 USD, the earliest this withdrawal can be processed is the value date of the share sale.
Sub-account transfer
Sometimes you transfer money to, for example, your SGD account and then want to transfer those SGD to your USD sub-account in order to trade. In most cases, you will be able to do this immediately on the same day.
However, if the transfer is made later in the day, or in other special circumstances (e.g. bank cut-off times, public holidays, or additional compliance checks), and the value date for crediting the SGD is the next business day, you will need to wait until that value date before you can make the sub-account transfer.
Before the money is booked or released on value date, it will appear at Transactions not booked under Cash.
Where to see Value date?
When a trade or transfer on platform is executed, you will see a platform notification right away that contains the value date.
If you are uncertain about the value date of the trade you have made, you can find it in multiple places on the platform.
Order Blotter - It locates beside the Positions and Orders tab.
Account statement - You can find it under Account reports
Portfolio > Transactions > Choose the (cash or trade) transaction and click More
| Important: settlement occurs only during working days, so a value date on a weekend/holiday is not possible. |