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Standard Chartered Equities Trading: Why You Might Lose Everything!

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Old 22-01-2015, 07:19 AM   #46
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wa, this kind of rubbish also can reach 3 pages?

it's from a blog run by a group of ginna pi.

what did u guys expect?
waiting for those kids to be sued by SCB
lol
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Old 22-01-2015, 08:56 AM   #47
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Wah where you get this post sia, seems like it's deleted
Still there when I scroll down, maybe got so many threads already you need to click 'view more'


Anyways, seems like people have posted the link on SC's FB page. So there may be a reaction soon.

Sadly, all this tells you one thing, there is no such thing as bad publicity.... which explains why 'analysts' on the TV financial news can be wrong so often and still get invited back to make more wrong predictions. Being wrong is ok. But being boring is not ok
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Old 22-01-2015, 09:03 AM   #48
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Anyway, KE cash upfront I think is called trade prefunded.
Poems is Phillip Cash Prepaid Account
UOB someone else say got liao... next time do your homework first can? I thought Sinkie anyhow bomb that picture I ask you all to refer to.
thanks for taking the effort to reply but you do know you have the right not to...appreciate the spoon feed anyway.
the only cash upfront which are not stored by custodian are cimb and vickers so this is all i need to know.
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Old 22-01-2015, 10:49 AM   #49
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SCB custodian seems to be a bit different from other brokerages custodian accounts which use the CDP sub-account (at least for local shares). Not sure if risk is different too?
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Old 22-01-2015, 10:53 AM   #50
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thanks for taking the effort to reply but you do know you have the right not to...appreciate the spoon feed anyway.
the only cash upfront which are not stored by custodian are cimb and vickers so this is all i need to know.
I think I was damn du lan with my phone unable to post replies, don't mind the harsh tone. peace.
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Old 22-01-2015, 10:55 AM   #51
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SCB custodian seems to be a bit different from other brokerages custodian accounts which use the CDP sub-account (at least for local shares). Not sure if risk is different too?
Think some of the cash upfront account is held under custodian accounts yo...
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Old 22-01-2015, 11:25 AM   #52
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Think some of the cash upfront account is held under custodian accounts yo...
a local brokerage account can either be linked to a cdp or a sub-cdp for sgx shares, then their foreign share are kept in a custody account which is maintained by the foreign counterparty that the local brokerage firm engaged to execute the foreign orders.

so in this case, if i am not wrong, for scb, they dont really execute these orders, they basically send the orders as the nominee account name (raffles nominee?) to a counterparty (could be morgan? goldman? credit suisse ie) which will execute them and then the shares will be settled or deliver in the nominee account under that counterparty

i could be wrong though.
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Old 22-01-2015, 11:41 AM   #53
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I do think that the subject header is harsh.
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Old 22-01-2015, 02:04 PM   #54
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a local brokerage account can either be linked to a cdp or a sub-cdp for sgx shares, then their foreign share are kept in a custody account which is maintained by the foreign counterparty that the local brokerage firm engaged to execute the foreign orders.

i could be wrong though.
Not necessarily. The executing broker and the custodian don't have to be the same; you could (say) execute through UBS and custody at JPM, or execute your own orders directly through Bloomberg Tradebook and custody at Citi, or whatever.

Also, obligatory note: the article is complete crap and the author should be ashamed of themselves.
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Last edited by Shiny Things; 22-01-2015 at 02:06 PM..
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Old 22-01-2015, 02:08 PM   #55
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Not necessarily. The executing broker and the custodian don't have to be the same; you could (say) execute through UBS and custody at JPM, or execute your own orders directly through Bloomberg Tradebook and custody at Citi, or whatever.

Also, obligatory note: the article is complete crap and the author should be ashamed of themselves.
If such arrangement, all the shares delivery will be manual le right?
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Old 22-01-2015, 03:09 PM   #56
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If such arrangement, all the shares delivery will be manual le right?
Not really sure - I've never actually done this myself - but I'd think the only manual step would be telling the executing broker that you want the shares to go to your account with XYZ bank, and most of the time that'd be a set-and-forget default setting anyway. This is a pretty bog-standard prime-brokerage arrangement, now that I think of it.

Last edited by Shiny Things; 22-01-2015 at 03:16 PM..
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Old 23-01-2015, 12:33 PM   #57
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I do think that the subject header is harsh.
not juicy, who will read?
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Old 23-01-2015, 09:30 PM   #58
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LOL, taken down liao, after Many people(including me) shoot until they buay tahan I think... Too bad, don't have screengrab pic. Dunno who break their limit, maybe SCB?

Here is the official statement of apology from them
http://dollarsandsense.sg/apology-and-undertaking/
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Old 23-01-2015, 09:54 PM   #59
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LOL, taken down liao, after Many people(including me) shoot until they buay tahan I think... Too bad, don't have screengrab pic. Dunno who break their limit, maybe SCB?

Here is the official statement of apology from them
APOLOGY AND UNDERTAKING
Probably SCB shot him a legal letter. The writer, Marcus Chua, knows he has no case, so decided to apologize. If you go to their website and look at their replies to the comments before that post was taken down, they weren't repentant at all. Sometimes, you need a lawyer letter to get people to admit their mistakes. In this case, it was very clear-cut they were wrong because facts are facts.

Last edited by klarklar; 23-01-2015 at 10:02 PM..
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