[for_friend]

eveee99 wrote:

The last I check, you pay $10.70 to transfer every 1000 shares to CDP.

If they close, there should not be any charges to transfer out .. on good will basis.

[eveee99]

for_friend wrote:

If they close, there should not be any charges to transfer out .. on good will basis.

Hopefully, better check with scb direct

[Geeezz]

so soon cannot buy/sell shares using scb alrdy?

[platopus]

Last night I just bought lol

[Sinkie]

eveee99 wrote:

The last I check, you pay $10.70 to transfer every 1000 shares to CDP.

it depends how much scb charges

[addict951]

EH HOW??

[Asphodeli]

for_friend wrote:

If they close, there should not be any charges to transfer out .. on good will basis.

waiting for StanChart to see if they want to spin it off to any other firm...

[yaucs]

Let's hope for good will in transferring out if scb closes stocking Broking biz. We can only hope, if charges per lot basis. Some people will have pain... The no min charges, system maint and handling of stock dividend, rights and call back may results in high cost not factored in previously.

[EvilPaladin]

just when i was about to open an account... will this really be affected?

[felixleong]

Standard Chartered Said to Shut Global Equities Business
2015-01-08 02:23:46.641 GMT


By Joyce Koh and Fox Hu
(Bloomberg) -- Standard Chartered Plc is closing its global
equities business, according to people with knowledge of the
matter.
Operations to be shut include cash equities, equity capital
markets and equity research, said the people, who asked not to
be identified discussing a private matter. The London-based
company will keep its convertible bonds and equity derivatives
businesses, said one of the people.
The closures will affect more than 200 people in Asia,
another person said. Piers Townsend, a spokesman for the company
in Singapore, declined to comment.
Chief Executive Officer Peter Sands is targeting about $400
million of cost savings this year as he tries to reverse profit
declines. The bank posted a 16 percent drop in third-quarter
pretax profit to $1.53 billion from a year earlier as
impairments for bad loans almost doubled and regulatory and
compliance costs increased.
Shares of the U.K. bank rose as much as 2.2 percent in Hong
Kong, the biggest gain in almost three weeks, and traded at
HK$113.40 at 10:12 a.m. local time.
Separately, Standard Chartered will this quarter reduce its
headcount in Malaysia by 11 percent, according to a memo
obtained by Bloomberg News.

For Related News and Information:
Standard Chartered Plans to Cut 11% of Malaysia Jobs, Memo Shows
Aberdeen CEO Sees ‘Nothing Fundamentally Wrong’ With StanChart
StanChart’s Rating Cut by S&P for First Time in 20 Years
Top banking stories: FTOP <GO>
Standard Chartered financials STAN LN Equity FA <GO>

--With assistance from Darren Boey and Philip Lagerkranser in
Hong Kong.

To contact the reporters on this story:
Joyce Koh in Singapore at +65-6311-2485 or
jkoh38@bloomberg.net;
Fox Hu in Hong Kong at +852-2977-6631 or
fhu7@bloomberg.net
To contact the editors responsible for this story:
Paul Panckhurst at +852-2977-6603 or
ppanckhurst@bloomberg.net;
Philip Lagerkranser at +852-2977-6626 or
lagerkranser@bloomberg.net

[felixleong]

STAN:London Stock Quote - Standard Chartered PLC - Bloomberg

u see stand chart the stock price dropped so much over the year or so

now PE 8, 0.7 book with 6% dividend yield also not much people dare to buy as investors fear of it being insolvent (bankrupt)

[Perisher]

Will this affect their brokerage account here?

[toiletduckie]

Most absolutely, will just have to wait and see

[felixleong]

Perisher wrote:

Will this affect their brokerage account here?

Operations to be shut include cash equities, equity capital
markets and equity research, said the people, who asked not to
be identified discussing a private matter.


they do until so cheap, no min comm, no custodian fees etc...
cheap but don't make $$ also not realistic ba

like imagine people buy 100 shares of a $1.00 stock... $100 the commission 20 cents nia.. how to survive? Brokerage house the back office a lot of cost one... compliance, operations, nominees, customer service, IT... etc

discount brokering only works unless u have a very big market share in countries such as US (example E-Trade http://en.wikipedia.org/wiki/E-Trade) to be a successful discounter, most important is economies of scale.. probably in revenues of hundreds of millions.. or like E-Trade over the billion dollar mark, if every year do billions of trade, each make few cents or dollars still can be very profitable. Like for E-Trade total rev is 1.7bil but net profits 80mil nia, stand chart probably was bleeding $$ just to capture market share, rest in peace man

heng I using local brokerage house nia, so not affected

those having all your assets in SCB please be careful

cheers

[lalalalalala]

If I got LSE shares can transfer to where ah?