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Standard Chartered - Only Online Trading in town with no minimum commission

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Old 10-01-2015, 09:59 AM   #3061
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It's very normal for people to panic due to insufficient information given to them during a incident. Some of them could have quite a big portfolio with them and therefore afraid that their hard earned money suddenly just disappeared.
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Old 10-01-2015, 09:59 AM   #3062
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theres also always a chance that SGX will close down
True.

There's also a chance that all the banks here could close one day.
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Old 10-01-2015, 10:05 AM   #3063
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Alright, so in summary the official stand for now is scb online trading remains as it is.
Under the table, anything can happen.
All those who are still invested and do not intend to bail, you have been warned.

My overall amount of shares in scb is under 50k so far. Wait for feb, see if any bank comes out with better offer to take advantage of the 100 shares thing.
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Old 10-01-2015, 10:09 AM   #3064
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This is not human behavior.

This is instinct.

Act cool all u want, one day when they close their trading platform overnight or freeze everyone's portfolio we will see desperation, anger and helplessness all at once.

There are some people who experienced this when their shares got CLOBbered.

The question one should ask is whether you think that SCB is actually making money with its online trading platform. Lets say you buy 100 shares of a penny stock once 19 Jan comes, you pay a few cents commission. SCB must print, and mail a contract note to you. The cost of envelope and local post already exceeds the commission, not to mention the fee they must pay to SGX for the trade and other admin costs.

If you feel that SCB is losing money in online trading platform, then 2 things can happen, either it raises minimum commission or shut down.

I am sticking with SCB because I believe that they have put so much sunk costs into the software and infrastructure of the trading platform, that it will be silly to shut down. Instead, I believe that they will raise minimum commission first and see what happen. If, after raising charges, customers all leave, and no customers=losing money, then maybe SCB will consider shutting down.
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Old 10-01-2015, 10:18 AM   #3065
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Yesterday sold all my counters at nett gain anyway. In 3 days I will receive my balance and will transfer all out to other banks.

Will trade with scb again once this fiasco is over.

U can say i over reacting but if a bank in trouble they are usually the first to say everything is all right but behind the scenes leave u to die first. Happen so many times before liao.
Not trying to criticize ( in fact I have thought of doing what you have done once I have heard the news), but I think you acted a bit irrationally...

Here are a few points why SCB should be safe:

1. Our shares are in a custodian account. I.e. It doesnt even appear in the balance sheet of standard chartered. Unless there is fraudulent activities going on, our shares are safe, even if standard chartered bank goes belly up. We own the shares, not them

2. It is not uncommon that banks sell/buy part of their businesses. Surely we have all read news about how the Asian banks have been aggressively buying US/European banks private banking business? Part and parcel of streamlining business

3. Temasek is a major shareholder. If the SCB has any cashflow problem, Temasek would probably come in guns blazing to the rescue (look at what happened to Olam lol). I also believe that with Temasek on board, there is probably less chance of any fraudulence activities going on, even after they screw up big time with China Aviation Oil haha. Also if SCB retail equity really cheats us Singaporeans of our money, Temasek/MAS will have to find some way to assure and recover all the money for us or else PAP will sure lose a lot of votes in the next election. Remember our claim to SCB assets are before Temasek's claim as a shareholder.

Our assets are really safe inside IMO. But if you feel better thinking that this is a start of a fiasco then go ahead. Please let us know if you have any other analysis/ insider info on why you think SCB is going down. There might be some of us who are still thinking whether we should get out like you!
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Old 10-01-2015, 10:22 AM   #3066
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Alright, so in summary the official stand for now is scb online trading remains as it is.
Under the table, anything can happen.
All those who are still invested and do not intend to bail, you have been warned.

My overall amount of shares in scb is under 50k so far. Wait for feb, see if any bank comes out with better offer to take advantage of the 100 shares thing.
I dont think the 50k SDIC covers shares in a custodian account.

https://www.sdic.org.sg/di_scope_of_coverage.php
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Old 10-01-2015, 10:38 AM   #3067
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I dont think the 50k SDIC covers shares in a custodian account.

https://www.sdic.org.sg/di_scope_of_coverage.php
One less reason to feel safe then.
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Old 10-01-2015, 10:46 AM   #3068
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It's not about the money for me - it's about another more subtle thing:



Always remember what is the most fundamental relationship between a customer and a bank...
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Old 10-01-2015, 10:54 AM   #3069
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It's not about the money for me - it's about another more subtle thing:



Always remember what is the most fundamental relationship between a customer and a bank...
conflict of interest how to trust!
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Old 10-01-2015, 10:54 AM   #3070
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It's not about the money for me - it's about another more subtle thing:



Always remember what is the most fundamental relationship between a customer and a bank...
That's the image banks try to project, but when shXt hits the fan, anything goes. It's afterall a business to them.
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Old 10-01-2015, 11:12 AM   #3071
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Not trying to criticize ( in fact I have thought of doing what you have done once I have heard the news), but I think you acted a bit irrationally...

Here are a few points why SCB should be safe:

1. Our shares are in a custodian account. I.e. It doesnt even appear in the balance sheet of standard chartered. Unless there is fraudulent activities going on, our shares are safe, even if standard chartered bank goes belly up. We own the shares, not them

2. It is not uncommon that banks sell/buy part of their businesses. Surely we have all read news about how the Asian banks have been aggressively buying US/European banks private banking business? Part and parcel of streamlining business

3. Temasek is a major shareholder. If the SCB has any cashflow problem, Temasek would probably come in guns blazing to the rescue (look at what happened to Olam lol). I also believe that with Temasek on board, there is probably less chance of any fraudulence activities going on, even after they screw up big time with China Aviation Oil haha. Also if SCB retail equity really cheats us Singaporeans of our money, Temasek/MAS will have to find some way to assure and recover all the money for us or else PAP will sure lose a lot of votes in the next election. Remember our claim to SCB assets are before Temasek's claim as a shareholder.

Our assets are really safe inside IMO. But if you feel better thinking that this is a start of a fiasco then go ahead. Please let us know if you have any other analysis/ insider info on why you think SCB is going down. There might be some of us who are still thinking whether we should get out like you!
Good points. I'm just acting paranoid. Haha. Hopefully the govt will act out if shlt really hits the fan.

I have already liquidated everything. Now just awaiting to move funds out. As I said I will definitely enter again once everything settles in.

1. 100 shares purchase in sgx.
2. Scb restructuring
3. Interest rate hike
4. Oil stocks on the cheap now with oil px down for foreseeable future.

It's with both micro and macro factors that I'm removing everything and revamping my portfolio, not just cause scb is cmi, thou I think they are anyway.

Good luck!
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Old 10-01-2015, 11:29 AM   #3072
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That's the image banks try to project, but when shXt hits the fan, anything goes. It's afterall a business to them.
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Old 10-01-2015, 01:31 PM   #3073
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Guys, the speculation in this thread is completely insane. Cut it out.

Here is the deal.

STANDARD CHARTERED'S RETAIL EQUITIES BROKERAGE IS STILL OPEN. NOTHING IS HAPPENING TO YOUR SHARES.

They are closing down the instititutional cash equities business. What that means is:

1) They're not doing investment-banking stuff - IPOs, rights offerings, things like that;
2) They're not doing brokerage for big customers (hedge funds, mutual funds, that sort of thing).
3) They're only closing down the cash equities business - they're still doing equity derivatives. (Which seems a bit odd, why have a derivatives desk with no spot desk, but there you go.)

They are still doing brokerage for retail customers; they'll just be passing the flow straight through to the exchange or to another market-maker. Basically they're turning themselves into E*Trade.

And this is just ridiculous:
Alright, so in summary the official stand for now is scb online trading remains as it is.
Under the table, anything can happen.
All those who are still invested and do not intend to bail, you have been warned.
The shutdown was a business decision because they weren't making any money out of the institutional cash equities business. The sht is not hitting the fan; there is no sht, and there is no fan. Saying "under the table anything can happen" is just silly - by that standard you shouldn't even invest in shares in the first place.

Stanchart is healthy. If you panicked and transferred all your shares out (or, even worse, panicked and sold all your shares and paid a bunch of commission and spread cross), it's probably time to sit back and un-panic and maybe bring your shares back in.

Stop with the dumb speculation, all of you.
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Old 10-01-2015, 01:37 PM   #3074
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Dun understand the panicking also. Over worrying for nothing. This is singapore. Bank dun just close out of the sudden eating all their clients money.

If you are so easily unnerved, maybe you are not suitable to play stocks.
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Old 10-01-2015, 01:42 PM   #3075
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Guys, the speculation in this thread is completely insane. Cut it out.

Here is the deal.

STANDARD CHARTERED'S RETAIL EQUITIES BROKERAGE IS STILL OPEN. NOTHING IS HAPPENING TO YOUR SHARES.

They are closing down the instititutional cash equities business. What that means is:

1) They're not doing investment-banking stuff - IPOs, rights offerings, things like that;
2) They're not doing brokerage for big customers (hedge funds, mutual funds, that sort of thing).
3) They're only closing down the cash equities business - they're still doing equity derivatives. (Which seems a bit odd, why have a derivatives desk with no spot desk, but there you go.)

They are still doing brokerage for retail customers; they'll just be passing the flow straight through to the exchange or to another market-maker. Basically they're turning themselves into E*Trade.

And this is just ridiculous:


The shutdown was a business decision because they weren't making any money out of the institutional cash equities business. The sht is not hitting the fan; there is no sht, and there is no fan. Saying "under the table anything can happen" is just silly - by that standard you shouldn't even invest in shares in the first place.

Stanchart is healthy. If you panicked and transferred all your shares out (or, even worse, panicked and sold all your shares and paid a bunch of commission and spread cross), it's probably time to sit back and un-panic and maybe bring your shares back in.

Stop with the dumb speculation, all of you.
Dun understand the panicking also. Over worrying for nothing. This is singapore. Bank dun just close out of the sudden eating all their clients money.

If you are so easily unnerved, maybe you are not suitable to play stocks.
Well said guys. These are the guys who read a negative article and dump their stocks, read a positive article and buy in again. End of the day, wonder how come their money is slowly disappearing...
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