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Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
Share trading   How technology provides certainty to share plan participants
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Share trading How technology provides certainty to share plan participants

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  • 1. Share Trading – How Technology ProvidesCertainty to Share Plan ParticipantsAnna Macfarlane, Head of Dealing at ComputershareDominic Newby, Client Relationship Director at Computershareifs ProShare Employee Share Plans Conference 201210th October 2012
  • 2. Agenda › The old world of employee plan trading › What’s causing the change? › Benefits of technology › The challenges › To summarise › What the future may hold?2
  • 3. Once upon a time...3
  • 4. I wonder if my trade was placed?4
  • 5. Old Trading Timescales› -2 days Sale / exercise form put in post› Trade Date Shares sold›T+2 Contract note / confirmation letter sent by post›T+3 Employee received confirmation of trade›T+5 Administrator receives sale proceeds›T+5 Sale proceeds released to employee by cheque›T+7 Employee receives cheque› T + 10 Employee manages to get to bank› T + 13 Proceeds clear into employees personal account
  • 6. Current Trading Timescales› Trade Date Employee initiates sale instruction online› Trade Date Shares sold› Trade Date Employee e-mailed confirmation of trade going to market› Trade Date Employee e-mailed confirmation of trade fill› T+1 Contract note available online› T+1 BACS / International payment initiated› T+3 Administrator receives sale proceeds› T+3 Sale proceeds received by employee (UK and most international jurisdictions)
  • 7. Vote NowHow regularly do you undertake transactions online(banking, shopping etc)?1. Daily 25%2. Weekly 25%3. Monthly 25%4. Never 25%
  • 8. Vote NowWhen did you start to regularly use the internet tobank, shop etc?1. In the last two years 20%2. In the last two to five years 20%3. In the last five to ten years 20%4. More than ten years 20%5. Never 20%
  • 9. Changing Attitudes to the Internet9
  • 10. Benefits to Share Plan Participants› Control› Certainty› Flexibility› Transparency
  • 11. Vote NowWhat % of trades received in real time are limitorders?1. Up to 10% 25%2. 10% to 25% 25%3. 25% to 50% 25%4. 50%+ 25%
  • 12. Vote NowSpeed of trade fulfilment - How long typicallybetween trade receipt and fill?1. Under five seconds 25%2. Five to ten seconds 25%3. Ten to twenty seconds 25%4. Over twenty seconds 25%
  • 13. Benefits to Employers and Administrators› Reduced Processing Risk› Reduced HR/Co Sec Resource Requirement› Certainty› Transparency› Efficient and Accurate Tax Calculations
  • 14. Challenges for Administrators› Technology Investment› Global Payments› Resources/Timezones› Regulation
  • 15. Regulatory Environment
  • 16. To Summarise › Choice of when to trade › Choice to choose their acceptable price › Comfort that price is checked vs. market › Confirmation of trade placed into market and when filled › Quick access to proceeds to their personal account either in UK or internationally › Access to required contract notes from trades for past 10 years16
  • 17. What the future may hold › Dematerialisation › Shorter settlement › More regulation › An App › Tax withholding accuracy17

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