Question on Stock Trade Settlement day T + 3

[peppermint7]

Im on giro with DBS. Let's say I buy a share today (Monday). Am i right to say i have to make sure my $ is in the designated account on Thursday before 9am? When will the amount be deducted exactly? Not Thursday 12 midnight I suppose?

 

[lockks]

Definitely not thursday before 9am.
Could be friday.

 

[peppermint7]

Definitely not thursday before 9am.
Could be friday.

Just managed to get hold of my broker. Just now ask the CS who answered my call but she has no idea.

My broker says $ has to be in by Thursday 12 midnight for deduction

 

[seannyboiboi]

If you buying singapore shares, I think now sgx is t+2 already......

https://www.businesstimes.com.sg/co...2-securities-settlement-cycle-starting-dec-10

 

[peppermint7]

If you buying singapore shares, I think now sgx is t+2 already......

https://www.businesstimes.com.sg/co...2-securities-settlement-cycle-starting-dec-10

Thanks for the info indeed

 

[peppermint7]

Just an update. Monday my trade day. Today (Friday between 1am to 8am) amount is deducted from my bank acc. Just fyi

❣ Update: Just to add. Mayb because I purchase bonds (DBS Bk 4.7% NCPS) that's why is T+4 ? Will test out on normal shares and update here if I ever try

Definitely not thursday before 9am.
Could be friday.

Lockks is right

If you buying singapore shares, I think now sgx is t+2 already......

https://www.businesstimes.com.sg/co...2-securities-settlement-cycle-starting-dec-10

Not sure why they didn't practice this

But when i do contra, amount comes in T+2 as usual

 

[raychoy]

But If you buy for SRS account ,the money need to be in SRS account by the same or next day.
Wonder why they dont practice t+2 ?