What is a ‘value date’, and can I use my funds before this date?

What Is ‘Value Date’? (AUD)

The value date is the future date when a financial transaction becomes effective. This applies to both trades and bank transfers.

Value Date for Trades

For most security transactions, settlement occurs two days after the trade date (T+2). Other abbreviations such as T+1, T+2, and T+3 refer to the number of days between the trade date and settlement.

For example, if you buy 1,000 shares in XYZ Inc., and the closing price is AUD 25.00, your trade occurs today, but the ownership transfer (value date) happens T+2 days later. However, different asset classes may have varying value dates.

To check the value date of your trade, go to Position Details and click the ‘i’ icon at the bottom of the platform view.

Important: Settlements occur only on business days, meaning a weekend or holiday cannot be a value date.

Value Date for Bank Transfers

In banking, the value date refers to when funds are released.

If you sell a position and withdraw the proceeds before the trade’s value date, the withdrawal will only be processed after the value date has passed.

For example:

You have 1,000 AUD in your account and sell shares for another 1,000 AUD.

You request to withdraw 2,000 AUD.

The withdrawal will not be processed immediately—it will be completed on the value date of the trade.

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