Investing Process and Timing
UNDERWRITING
- Fill and sign the underwriting form and pay the selected amount via bank transfer or check.
- Subsequently underwriting is possible only via bank transfer.
- Shares underwriting can be arranged through PAC or pic.
Settlements:
Day T | Collection of client’s information by the credit agency and submission to Etica SGR |
Day T+1 | - value date set as T+1 by the broker - settlement date set as value date +1 so T+2 for orders received by 4,00pm |
Day T+2 | The investment manager sets the share amount based on the previous day market price and sends the info to Etica SGR. Etica SGR registers all the deals with settlement date T+2, assigning the corresponding shares to the paid amount. Etica SGR submit the details to the depository bank and brokers, for their database update and sets up information mail to be sent via Etica SGR’s mail system |
Refunds
- Fill and sign the refund form. The amount will be received by bank transfer or money check.
- Subsequently underwriting is possible only via bank transfer.
- Shares underwriting can be arranged through CAP o CIP.
Settlements:
Day T | Collection of client’s information by the credit agency and submission to Etica SGR |
Day T + 1 | - Settlement date – set as receipt date +1 so T+2. Refunds received by 4,00pm are considered and processed within the day following the previous rule. The share value for the refund is set as the previous day share value - Value date – set as settlement date +3 by Etica SGR, so T+5. |
Day T + 2 | The investment manager sets the share amount based on the previous day market price and sends the info to Etica SGR. Etica SGR registers all the deals with settlement date T+2, assigning the corresponding shares to the paid amount. Etica SGR submits the details to the depository bank and brokers, for their database update and sets up information mail to be sent via Etica SGR’s mail system. |
SWITCH:
- Fill and sign the refund/switch form.
Settlements:
Day T | Collection of client’s information by the credit agency and submission to Etica SGR |
Day T + 1 | - Value date – set as receipt date (T+1). - Settlement date – set as receipt date +1 (T+2). A switch received by 4,00pm is considered and processed within the day (and set the share amount of the destination fund). |
Day T + 2 | The investment manager sets the share amount based on the previous day market price and sends the info to Etica SGR. Etica SGR registers all the deals with settlement date T+2. Etica SGR submits the details to the depository bank and brokers, for their database update and sets up information mail to be sent via Etica SGR’s mail system. |
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