PEXA On-Time Settlement Performance Report March 2023

This document is a report detailing the on-time settlement performance of lenders in Australia for the March 2023 quarter, utilizing a metric called Settled First Date (SFD). The SFD metric assesses the percentage of total sale settlements that successfully occurred on the scheduled date through the PEXA Exchange. The report outlines that 92.4% of total sale settlements lodged in the PEXA Exchange over the 15-month period qualified for SFD calculation. It provides specific performance statistics for various lender segments, including Foreign ADIs, Customer-owned banks, and Major banks, highlighting their respective SFD averages. The report also notes improvements and trends in performance over time, with Foreign ADIs achieving the highest average SFD of 91.6%. Additionally, it discusses the influence of other stakeholders in the settlement process, including practitioners and consumers, on the overall outcomes. The report concludes with a summary of key findings and performance metrics across different states.