[flyfox]

Hi guys,

Nt too sure if u ll down HK shares.
They didnt even update the price in Stan chart, i wonder what has happened recently.

So my HK shares went up quite abit, but they still show the old price when calculating my total portfolio worth.

[Perisher]

Look, the portfolio calculation is just a rough estimate. Only worry if you can't sell at the market price you see.

I last time use iOCBC also update my portfolio worth wrongly.

[Bedokian]

flyfox wrote:

Hi guys,

Nt too sure if u ll down HK shares.
They didnt even update the price in Stan chart, i wonder what has happened recently.

So my HK shares went up quite abit, but they still show the old price when calculating my total portfolio worth.

While opening the SCB equities account, the RM had already told me about its deficiency in pricing updates, and recommended that we use another tool to monitor the price (e.g. either through Google/Yahoo Finance, POEMS, etc.).

[flyfox]

Bedokian wrote:

While opening the SCB equities account, the RM had already told me about its deficiency in pricing updates, and recommended that we use another tool to monitor the price (e.g. either through Google/Yahoo Finance, POEMS, etc.).

whoa, ok lor. When did u open it?
Coz, in the past they used to update daily and I have been using since 2011 and till recently....lol

[Bedokian]

flyfox wrote:

whoa, ok lor. When did u open it?
Coz, in the past they used to update daily and I have been using since 2011 and till recently....lol

I opened a bit later, sometime at end 2013.

For me mine would be to open the SCB platform and refreshing the SGX page (for local shares) or to view the movements on Google/Yahoo Finance when buying US shares.

[slingshotpro]

Bedokian wrote:

I opened a bit later, sometime at end 2013.

For me mine would be to open the SCB platform and refreshing the SGX page (for local shares) or to view the movements on Google/Yahoo Finance when buying US shares.

I am using scb for trading but also have a cimb securities account as well, I did just a trade in the usa market there and got 12 months free usa feed

[Project_Xco]

Thanks for the clarification.

Sinkie wrote:

Standchart can touch, but it's very inethical and a massive fraud

Shiny Things wrote:

No. No no no no no. That article is 100% wrong. It's so wrong the authors ended up being ordered to pull it down.

The shares are held in a ringfenced subsidiary, so Stanchart can't touch them. If Stanchart went down, which is not going to happen anyway, then the subsidiary would hand the shares over to you. Shares in Stanchart are as safe as cash in Stanchart - maybe even safer.

[cloverpark]

Shiny Things wrote:

No. No no no no no. That article is 100% wrong. It's so wrong the authors ended up being ordered to pull it down.

The shares are held in a ringfenced subsidiary, so Stanchart can't touch them. If Stanchart went down, which is not going to happen anyway, then the subsidiary would hand the shares over to you. Shares in Stanchart are as safe as cash in Stanchart - maybe even safer.

Thanks. But I'm still concerned.

Is there any article or statement to validate that customer shares are protected from creditors or being frozen? I've tried checking Stanchart website but there's no mention of this?

[Perisher]

cloverpark wrote:

Thanks. But I'm still concerned.

Is there any article or statement to validate that customer shares are protected from creditors or being frozen? I've tried checking Stanchart website but there's no mention of this?

Let's put it this way, every broker in the world uses a custody to hold your shares except SG. If you are worried over this, you can't trade anything except sgx.

This includes all local brokers who trade overseas shares like DBS, OCBC, POEMS etc...

[cloverpark]

Perisher wrote:

Let's put it this way, every broker in the world uses a custody to hold your shares except SG. If you are worried over this, you can't trade anything except sgx.

This includes all local brokers who trade overseas shares like DBS, OCBC, POEMS etc...

Yes, I'm aware of the custody thing. But I've no issues with DBS or OCBC or UOBKH as custodians as they are local banks and considered safe and do not face any financial issues or losses.

Of course, they all have exorbitant custodial and dividend fees I believe?

I'm also looking into thinkorswim, any thoughts on that?

[Perisher]

Not using. I've been using SCB for 3 years, if I migrate, it will be to IB.

But for local stocks, the savings on SCB is so huge for me that unless my portofolio grows to a huge enough amount that I'm buying by 10k each time I won't switch.

If one is that worried, you can buy using SCB and trsf to CDP(if holding long term), the fee is $10.70 if I'm not wrong. That should save all the worries.

[Bedokian]

cloverpark wrote:

Yes, I'm aware of the custody thing. But I've no issues with DBS or OCBC or UOBKH as custodians as they are local banks and considered safe and do not face any financial issues or losses.

Of course, they all have exorbitant custodial and dividend fees I believe?

I'm also looking into thinkorswim, any thoughts on that?

I beg to differ on the first part. Foreign banks such as SCB are under the QFB programme whose rules are almost as stringent as those that govern the local banks. Besides, there have been countless posts on the separation of equities from the bank assets via the use of trustees.

TOS works on a custodian basis as well.

[dexboi]

I'm really curious, which bank or entity is acting as the custodian for all our shares held in SCB? I think as a consumer, we ought to know, just in case.

[Garlic & Butter]

StandChart hold the shares under "Raffles Nominees Pte Ltd".
Raffles Nominees is a direct CDP account holder. so there's no additional layer after them.

[limster]

Perisher wrote:

If one is that worried, you can buy using SCB and trsf to CDP(if holding long term), the fee is $10.70 if I'm not wrong. That should save all the worries.

leelmj wrote:

transfer cost from sc to CDP is SG$10.70 per lot, cap at SG$107 per counter.

http://forums.hardwarezone.com.sg/91...-post3118.html