Selling shares

[fid]

A quickie...

If shares are held in a nominee account, settlement takes place within 3 days...so, at what point is the price decided? Is it the time at which you instruct the sale, the exact time at which the sale takes place within the 3 days, or some other time inbetween?

Cheers

[vixpy1]

it is decided at the time the sale is made, and settlement time does not start until the sale has been made.

[munky]

Charlie is right.

If you're selling UK shares, your broker should be able to tell you the exact price you'll get. Mine is all online, and displays a price for 60 seconds during which I have the choice of accepting or aborting. For Nasdaq shares I get an indicative price, and I find out the actual price a few seconds after confirming the trade (pretty close to the indicative price, and often better)

[mcflurry]

For equities (shares) it is at the point of sale, for unit trusts and other wrapped products it may be the next trading session.

[fid]

Excellent, thanks chaps!