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What is Settled and Unsettled Cash on SatrixNOW?

What is Settled Cash? 

Settled Cash is the term given to the proceeds of the sale of an investment on the platform that has gone through the 5 business (working) day settlement period and is therefore available for withdrawal.

What is Unsettled Cash?

Unsettled Cash is the cash from the sale of an instrument / product on the platform, that has not yet cleared as part of the settlement process and so cannot be withdrawn.

When a SatrixNOW Investor sells an Investment on the platform, it takes a period of 5 business days (the "Settlement period") for the cash proceeds of that sale to be settled and to show in the Investors account as "withdrawable funds".

This is in line with JSE’s Equities Rules (which dictates a T+3 settlement period) and our SatrixNOW Terms and Conditions which make provision for a maximum of 5 business days for settlement.

Only after those funds have been settled, can the SatrixNOW Investor issue a withdrawal instruction to move those funds from his / her SatrixNOW account to their personal bank account.


For instructions on how to withdraw funds that have settled, please visit this Withdrawals FAQ article for detailed instructions on how to do it.

PLEASE NOTE: 
The settlement period is 5 business (working) days. Saturdays, Sundays and public holidays are not considered business (working) days


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Satrix Managers (RF) (Pty) Ltd (Satrix) a registered and approved Manager in Collective Investment Schemes in Securities and an authorised financial services provider in terms of the FAIS. Collective investment schemes are generally medium- to long-term investments. Unit Trusts and ETFs the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of an ETF, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange.

ETFs are index tracking funds, registered as a Collective Investment and can be traded by any stockbroker on the stock exchange or via Investment Plans and online trading platforms. ETFs may incur additional costs due to it being listed on the JSE. Past performance is not necessarily a guide to future performance and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions are available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF Minimum Disclosure Document. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF Minimum Disclosure Document and or on the Satrix website.

Performance is based on NAV to NAV calculations of the portfolio. Individual performance may differ to that of the portfolio as a result of initial fees, actual investment date, dividend withholding tax and income reinvestment date. The reinvestment of income is calculated based on actual distributed amount and factors such as payment date and reinvestment date must be considered.

*Note exchange prices are delayed in accordance with regional exchange rules.South African prices are delayed by 15 minutes; North American prices are delayed by 15 minutes.