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Placeholder ticker
What is a placeholder ticker and why is it in my account?
That ‘weird ticker’ showing up in your portfolio is likely a placeholder ticker – a temporary, non-tradable symbol used to track your holdings during a corporate action.
It often appears when your original shares have been removed from trading, but the final outcome – whether cash or new shares (known as consideration) – hasn’t yet settled.
Why do I see a placeholder ticker?
Placeholder tickers help document your ownership while the final asset is being processed or held. This can happen in situations where shares are:
Awaiting regulatory or shareholder approval
Temporarily locked in escrow
Pending the completion of a merger, consolidation or restructuring
The role of escrow
Escrow is a common reason for placeholder tickers. It refers to when a neutral third party holds funds or shares until certain conditions are met, for example during an M&A or IPO.
Common placeholder ticker formats
Exchange |
Ticker appearance |
Common use case |
|---|---|---|
Wall St (U.S.) |
Ends in |
When-issued or when-distributed rights before the deal officially settles |
Wall St (U.S.) |
Original ticker + |
Indicates a company under bankruptcy or delisted from a major exchange |
ASX |
Ticker with extra letters (e.g. XYZDB, XYZXE) |
Often used in deferred settlement periods or post-split scenarios |
Both |
Randomised string (e.g. CUSIP or internal code) |
Used when a cash settlement is pending or when a Contingent Value Right (CVR) is issued |
What happens next?
Placeholder tickers are non-tradable and require no action on your part.
Trade rejection: These tickers don’t represent an active market asset, so sell orders will be rejected.
Wait for conversion: We will automatically convert the placeholder into the final asset once the action is complete.
Here’s what to expect:
If you're due cash: The placeholder will disappear, and the funds will appear in your Stake settlement account.
If you're due new shares: The placeholder will be replaced by the new security with its official ticker.
To track timelines and next steps, check the official corporate action notice from your broker or announcements on the ASX or SEC’s EDGAR database.
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