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

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Old 10-01-2015, 11:55 PM   #3091
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Shares in Scb are kept in a seperate nominee accounts with the raffles nominee so don't worry.

do u mean if the whole bank scb closes down or just the trading platform ?

if just the trading platform.. and main scb still there.. come on lah, they have a reputation to uphold, you think you will suka suka just let your shares disappear and risk their reputation meh....... definitely will give warning one wat or find a suitable solution for everyone

but if the whole of scb goes down.. then that's a different story
Your shares are legally owned by a non-trading subsidiary of your stock broker, known as a nominee company. (Sometimes a third-party company hired by your stock broker will be used instead of a subsidiary – more on this later on.) However, while the nominee company is the legal owner of the shares, you are the beneficial owner, meaning that you have rights over them. Your stock broker will keep records of which client is the beneficial owner of all the shares held by the nominee company, trade your holdings according to your instructions and pass cash from the sale of your shares or from dividends on to you.

Having the shares owned by a non-trading company rather than the main brokerage business means that your assets are legally separate from the assets and liabilities of your stock broker. The segregation between client assets and company assets is crucial to how this arrangement operates.

If the broker goes bust, your stocks are still your property. The creditors can’t touch them. If your investments were just assets of your stock broker and could be claimed by its creditors, you wouldn’t have any security at all.

(Note that this system is very different to placing money on deposit in a bank, where you are technically lending money to the bank to do as it wants and are a creditor of the bank if it fails. Stock brokers hold your assets on custody for you, rather than receiving a loan from you.)

So in theory, segregation ensures your investments are safe.

Last edited by Sinkie; 10-01-2015 at 11:58 PM..
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Old 11-01-2015, 12:02 AM   #3092
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Shares in Scb are kept in a seperate nominee accounts with the raffles nominee so don't worry.



Your shares are legally owned by a non-trading subsidiary of your stock broker, known as a nominee company. (Sometimes a third-party company hired by your stock broker will be used instead of a subsidiary – more on this later on.) However, while the nominee company is the legal owner of the shares, you are the beneficial owner, meaning that you have rights over them. Your stock broker will keep records of which client is the beneficial owner of all the shares held by the nominee company, trade your holdings according to your instructions and pass cash from the sale of your shares or from dividends on to you.

Having the shares owned by a non-trading company rather than the main brokerage business means that your assets are legally separate from the assets and liabilities of your stock broker. The segregation between client assets and company assets is crucial to how this arrangement operates.

If the broker goes bust, your stocks are still your property. The creditors can’t touch them. If your investments were just assets of your stock broker and could be claimed by its creditors, you wouldn’t have any security at all.

(Note that this system is very different to placing money on deposit in a bank, where you are technically lending money to the bank to do as it wants and are a creditor of the bank if it fails. Stock brokers hold your assets on custody for you, rather than receiving a loan from you.)

So in theory, segregation ensures your investments are safe.
sounds good!
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Old 11-01-2015, 12:13 AM   #3093
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Shares in Scb are kept in a seperate nominee accounts with the raffles nominee so don't worry.



Your shares are legally owned by a non-trading subsidiary of your stock broker, known as a nominee company. (Sometimes a third-party company hired by your stock broker will be used instead of a subsidiary – more on this later on.) However, while the nominee company is the legal owner of the shares, you are the beneficial owner, meaning that you have rights over them. Your stock broker will keep records of which client is the beneficial owner of all the shares held by the nominee company, trade your holdings according to your instructions and pass cash from the sale of your shares or from dividends on to you.

Having the shares owned by a non-trading company rather than the main brokerage business means that your assets are legally separate from the assets and liabilities of your stock broker. The segregation between client assets and company assets is crucial to how this arrangement operates.

If the broker goes bust, your stocks are still your property. The creditors can’t touch them. If your investments were just assets of your stock broker and could be claimed by its creditors, you wouldn’t have any security at all.

(Note that this system is very different to placing money on deposit in a bank, where you are technically lending money to the bank to do as it wants and are a creditor of the bank if it fails. Stock brokers hold your assets on custody for you, rather than receiving a loan from you.)

So in theory, segregation ensures your investments are safe.
yes pls write this in BIG BOLD RED LETTER IN FONT 50 so ppl will stop panicking over such things... makes you wonder why people don't worry getting knocked over by a car when they anyhow jaywalk
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Old 11-01-2015, 12:20 AM   #3094
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Shares in Scb are kept in a seperate nominee accounts with the raffles nominee so don't worry.



Your shares are legally owned by a non-trading subsidiary of your stock broker, known as a nominee company. (Sometimes a third-party company hired by your stock broker will be used instead of a subsidiary – more on this later on.) However, while the nominee company is the legal owner of the shares, you are the beneficial owner, meaning that you have rights over them. Your stock broker will keep records of which client is the beneficial owner of all the shares held by the nominee company, trade your holdings according to your instructions and pass cash from the sale of your shares or from dividends on to you.

Having the shares owned by a non-trading company rather than the main brokerage business means that your assets are legally separate from the assets and liabilities of your stock broker. The segregation between client assets and company assets is crucial to how this arrangement operates.

If the broker goes bust, your stocks are still your property. The creditors can’t touch them. If your investments were just assets of your stock broker and could be claimed by its creditors, you wouldn’t have any security at all.

(Note that this system is very different to placing money on deposit in a bank, where you are technically lending money to the bank to do as it wants and are a creditor of the bank if it fails. Stock brokers hold your assets on custody for you, rather than receiving a loan from you.)

So in theory, segregation ensures your investments are safe.
sounds good!

lucky i liquidated. buying into shares soon after all these hooha! sitting on the fence meanwhile.

well i like what u guys all said. talking like gurus. maybe u guys stay invested is the right thing after all.

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Old 11-01-2015, 09:33 AM   #3095
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u very zhun leh, US fri night red red... europe red red... just nice u next week can buy back cheaper liao hahaha
Market wait for nobody
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Old 11-01-2015, 09:45 AM   #3096
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yes pls write this in BIG BOLD RED LETTER IN FONT 50 so ppl will stop panicking over such things... makes you wonder why people don't worry getting knocked over by a car when they anyhow jaywalk
SCB should put a sticky announcement on their main page, and we have one here as well
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Old 11-01-2015, 11:03 AM   #3097
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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 shďt is not hitting the fan; there is no shďt, 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.
Hey Shiny Thing, I'm planning to open a trading account when the SCB news broke. Given the current situation, in your opinion, is it still wise to open a trading account with SCB? Thanks for your advice!
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Old 11-01-2015, 11:18 AM   #3098
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Hey Shiny Thing, I'm planning to open a trading account when the SCB news broke. Given the current situation, in your opinion, is it still wise to open a trading account with SCB? Thanks for your advice!
Just open first, free one. Open liao then worry whether u want to use them to trade anot
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Old 11-01-2015, 11:36 AM   #3099
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Their account opening criteria is more difficult than whether to open or not. And yes, it's free, no fall below fee, no nothing. So just open and see if you wanna use.
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Old 11-01-2015, 12:48 PM   #3100
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Just open first, free one. Open liao then worry whether u want to use them to trade anot
Their account opening criteria is more difficult than whether to open or not. And yes, it's free, no fall below fee, no nothing. So just open and see if you wanna use.
As what Perisher said, opening with SCB quite ley chey, many questions to answer. Considering between this and CIMB now..
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Old 11-01-2015, 01:13 PM   #3101
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As what Perisher said, opening with SCB quite ley chey, many questions to answer. Considering between this and CIMB now..
just open all, nothing wrong with having more.. cimb dbsv etc even got min fee, but open acc is free, just open and open and have a wide range to chose from whenever you want to buy stocks just to feel shiok
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Old 11-01-2015, 04:24 PM   #3102
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As what Perisher said, opening with SCB quite ley chey, many questions to answer. Considering between this and CIMB now..
ley chey but can save u a lot of money over the years...i think worth the time la.
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Old 11-01-2015, 05:23 PM   #3103
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Where got ley chey.. Go to branch get no. And open nia. If go to an ulu branch or ulu timing. 30mins is enough. Just say yes u trade before ticktick
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Old 11-01-2015, 05:51 PM   #3104
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For opening of trading account, i think even if take hours also worth it ba, should see the big picture and for long term
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Old 11-01-2015, 08:36 PM   #3105
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anyone manage to get into internet banking through mobile using dekstop view? Apparently i can't get desktop view on their site and i have to use breeze to log in.
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