eh... i'm just following one of da GOLDEN RULES hereits funny you dont believe what i told you.
eh... i'm just following one of da GOLDEN RULES hereits funny you dont believe what i told you.
i just got my trading account activated. FYI there is a stop loss order feature in this account.
although u had "bought" the shares, the shares will be credited/ delivered to SCB instead of CDP.
this means SCB is the custodian of the shares. usually shares bought on SGX are kept in CDP. shares bought from other markets are kept by the brokerage as custodian
you will not be involved with CDP.. all transactions only between u n SCB
now only wondering if the "shares" exists physically or its merely an open position
still don't understand your first point.. do it mean when I sell, the potential buyers must be users of that bank, thus a much smaller market, than the entire market of CDP?
I only use one bank to buy and sell.. my portfolio is small..
so if company offer dividends, is go to SCB or to us?
I know I'm going to sound terribly xenophobia but I dun trust foreign banks.
When I first graduated, my first credit card was actually with SCB. There customer service was quite terrible and they were very sticky on charges like late charge, interest charge, annual fee.
So in the end, I severed my relationship with them and never looked back. More or less same experience with Citibank. Bank of China was not a bad experience.
These was in the past and I'm sure their customer service has improved. But there is nothing that these foreign banks can offered me that the big 3 does not. And this will probably be through even when I become a HNWI.
So thanks but no thanks. Once bittern twice shy.
Hi i wanne ask in a layman term. if our shares bought from SCB , and SCB hold custody to it. So if SCB goes down under or bust, our stock will be gone too ?
Yes, that is if it goes bust suddenly..
no. the stock still belong to u even the SCB bust cos it is under SCB custody and not SCB.
same go for citibank custody, kim eng custody, etc etc
all singapore brokerage coy if u buy foreign market shares it is under custody too...
SCB cannot sell current holding held by CDP rite?
Anyone know what's the cost of transferring it from CDP to SCB?
though cheap, i must say the interface is not user-friendly.
it is unlike platforms like POEMS which allows you to see live prices at a glance.
maybe monitor from platforms like POEMS, and only buy from SCB when required?