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

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Old 13-01-2015, 12:45 PM   #3166
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You can actually open the bank n trading account online via the online url one at your comfort without the need to go down

You can find the url link in the sticky thread or under my signature

If you wan open a Cdp account on weekend, can go down cdp to open too

9 North Buona Vista Drive
#01-19/20 The Metropolis
Singapore 138588
(Next to The Metropolis Tower 2)

You can proceed to SGX building to open a CDP account directly. In there you will be asked to fill up the CDP account opening forms. The documents needed are:
1. Original identity card (for Singaporean/Singapore PR)
2. Original identity card (for Malaysian) / Passport (for Foreigner) + Original utility bill as proof of residential address (where applicable)

After that u can just take a pick of your brokerage, print the forms you want, fill in and mail them back with all supporting document le



But if you really want, you can open starsaver (not brokerage) via the 2 bank branches

Orchard
270 Orchard Road #03-02
Knightsbridge
Singapore 238857
Phone: (+65) 6333 7777
Fax: (+65) 6645 2099

Counter Services:
10.00am - 8.00pm (Mon - Sun)

Personal Banking Services & CIMB Preferred:
10.00am - 8.00pm (Mon - Sun)
Closed on Public Holiday
Raffles Place
50 Raffles Place #01-02
Singapore Land Tower
Singapore 048623
Phone: (+65) 6333 7777
Fax: (+65) 6557 2213

Counter Services:
9.00am - 4.30pm (Mon - Fri)
9.00am - 1.00pm (Sat)

Personal Banking Services & CIMB Preferred:
9.00am - 6.00pm (Mon - Fri)
9.00am - 1.00pm (Sat)
Closed on Sunday and Public Holiday
Okay! Will chexk it out thanks!
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Old 13-01-2015, 12:51 PM   #3167
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Lol another guy panicking like crazy at small news... relax la..
Maybe Scb buey tahan with so many request for shares withdrawal till they have to do an official announcement on their website

It's just closure of institional equity department and not closure of bank herself lah, so relax everyone
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Last edited by Sinkie; 13-01-2015 at 01:09 PM..
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Old 13-01-2015, 04:52 PM   #3168
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StanChart faces $4.4 bln commodities hit, may need to raise cash -analysts
By Steve Slater

LONDON Mon Jan 12, 2015 9:04am EST
Jan 12 (Reuters) - Asia-focused bank Standard Chartered could need $4.4 billion of extra provisions to cover losses from commodities loans, potentially forcing it to raise billions of dollars from investors, analysts said on Monday.

Credit Suisse analysts said the losses could force Standard Chartered to raise $6.9 billion to improve its core capital ratio to 11 percent by the end of the year.

"We think the needed provisioning could be large enough to require further capital measures, such as further equity raisin, and/or dividend reductions," analyst Carla Antunes-Silva said in a note.

Standard Chartered's shares were down 2.3 percent at 923 pence by 1330 GMT, the weakest major European bank.

A jump in Standard Chartered's bad debts in the third quarter has prompted concern that it could face heavy losses from commodities loans after the fall in the price of oil and commodities.

Credit Suisse's estimate was based on an "adverse" scenario that would see the bank need $4.4 billion to maintain its capital ratio, based on a potential $2.6 billion of pretax provisioning for commodities loans that sour and a higher risk-weighting on the loans.

It said the bank could announce a rights issue or cut the dividend at its 2014 results, due on March 4.

Standard Chartered declined to comment.

"We believe the last two years of de-rating have been driven largely by weaker revenue and that the asset quality deterioration leg is now setting in," said Credit Suisse, maintaining its "underperform" rating on the stock.

Analysts at JPMorgan and Jefferies also cut their target prices on the stock on Monday, saying that credit quality could deteriorate.

Standard Chartered CEO Peter Sands is under pressure after a troubled two years in which profits have fallen, halting a decade of record earnings. Some investors have said that Sands should go or the bank should set out succession plans.

Sands last week announced plans to close the bulk of the bank's equities business and axe 4,000 jobs in retail banking as part of a turnaround plan to cut costs and sharpen its focus.

The London-based bank issued three profit warnings last year and saw its shares tumble 29 percent.

Credit Suisse said that its analysis was based on default probabilities across Asian energy, metals and mining companies and an assessment of Standard Chartered's commodities portfolio.
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Old 14-01-2015, 11:10 AM   #3169
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Hi all, so in conclusion its still safe to open a trading acct with sc? Like even if the bank goes burst, our shares won't be gone? Anyways is buying US stocks thru SC advisable?
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Old 14-01-2015, 11:25 AM   #3170
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Hi all, so in conclusion its still safe to open a trading acct with sc? Like even if the bank goes burst, our shares won't be gone? Anyways is buying US stocks thru SC advisable?
Relatively safe. They hold shares for us only, cannot do anything to it even if they bankrupt.

Buying US shares through SCB is not bad other than the USD/SGD exchanged spread. So don't change too often.
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Old 14-01-2015, 05:10 PM   #3171
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Relatively safe. They hold shares for us only, cannot do anything to it even if they bankrupt.

Buying US shares through SCB is not bad other than the USD/SGD exchanged spread. So don't change too often.
Is it right to say that our shares are not transferred to CDP? Hence if they go bust, the shares will be in limbo? Cuz I understand that you cannot buy or share those in scb elsewhere.
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Old 14-01-2015, 05:13 PM   #3172
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Relatively safe. They hold shares for us only, cannot do anything to it even if they bankrupt.

Buying US shares through SCB is not bad other than the USD/SGD exchanged spread. So don't change too often.
Ah thanks! So how can i minimise the exchange spread?
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Old 14-01-2015, 05:23 PM   #3173
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Is it right to say that our shares are not transferred to CDP? Hence if they go bust, the shares will be in limbo? Cuz I understand that you cannot buy or share those in scb elsewhere.
From what I understand, if that happens, they will go about processing your shares to another brokerage firm. Your shares is safe but maybe stuck for a time. Of course this kind of arrangement is out of our hands.

Ah thanks! So how can i minimise the exchange spread?
There is no way to avoid the spread issue. My advise is to exchange as few times as you can in as large an amount as you plan to use for US side.
Use IB if you wanna buy US stocks? There is a monthly fee of $10 I think, details of that fee is here
http://ibkb.interactivebrokers.com/node/833
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Old 14-01-2015, 05:29 PM   #3174
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Is it right to say that our shares are not transferred to CDP? Hence if they go bust, the shares will be in limbo? Cuz I understand that you cannot buy or share those in scb elsewhere.
it's a custodian who will hang on to the shares for us, not SCB.
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Old 14-01-2015, 05:37 PM   #3175
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Is it right to say that our shares are not transferred to CDP? Hence if they go bust, the shares will be in limbo? Cuz I understand that you cannot buy or share those in scb elsewhere.
Your shares are safe with the nominee account, you will need to request to transfer your shares back to Cdp or other custodian which will come with a fee.

So your shares are safe unless they decided to fraud by transferring these shares back to themselves and thennnnnnn...

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.
No need panic lahh
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Old 14-01-2015, 06:24 PM   #3176
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Is it right to say that our shares are not transferred to CDP? Hence if they go bust, the shares will be in limbo? Cuz I understand that you cannot buy or share those in scb elsewhere.
In fact, CDP is some sort of a big custodian as well.

And if you buy foreign shares, the custodian would be the brokerage that you utilised to buy, or a 3rd party/subsidiary that is contracted by the brokerage, and will not go into CDP.
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Old 14-01-2015, 07:10 PM   #3177
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Lol another guy panicking like crazy at small news... relax la..
Yah those panicking are like jealous lovers and can't bear to part of their money at the slightest news lol

While those chillaxing
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Old 14-01-2015, 07:39 PM   #3178
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Hi i do not have scb account so may i know what is the usdsgd exchange spread for stanchart? Are there any other costs/fees other than the spread?
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Old 14-01-2015, 09:04 PM   #3179
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if they close the singapore sg trading business, our shares will not be gone however they will need to be xfer to accounts like cdp.

These comes with a xfer fee and will take time to process as some have already mentioned.

Always best to look ahead and take precautions as necessary.
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Last edited by lasnoblur; 14-01-2015 at 09:08 PM..
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Old 14-01-2015, 10:43 PM   #3180
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Go down to the branch and ask them to open for u lor. If cannot then change person handling until they're willing?
went there try, the guy said cannot ... must at least meet 1 of the 4 criteria zzz
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