What is DvP?

Delivery versus payment (DvP) is a securities industry settlement method that guarantees the transfer of securities at the time of payment. Settlement is conducted electronically via CHESS (ASX’s settlement system) and instructions are submitted by participant brokers on behalf of their client.  

Funds are deducted automatically by the broker from the client cash account and the securities are simultaneously transferred to the buyer.

OnMarket will use DvP for various placements on our platform.  When DvP is used on a placement, no other payment options will be accepted.

DvP settled offers are open to those investors who qualify as a sophisticated or professional investor.

Can I participate in DvP placements?

To participate in placements using DvP, you must have a Holder Identification Number (HIN). This is provided by your full service or online broker.  The HIN must be entered into your OnMarket investment profile and you must also select the Broker that your HIN is held with. All details within your investment profile must match your CHESS registration.

Please note, applications using investment profiles that have not been verified or are missing a HIN will not receive an allocation. 

Where a placement is to be settled via DvP, the process will be as follows:

• An eligible investor will apply for the offer
• Post offer close, we will advise investors of their final allocation under the offer
• You will need to ensure that there are sufficient funds are held within your broker trading account (associated with the HIN that you provide to OnMarket)
• Funds will be automatically deducted from this account at settlement.   

By submitting an application in the offer, you warrant that there are sufficient funds in your broker linked bank account.