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

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Sinkie

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hi

At CIMB

If sell before T+3 is how much commission?

If sell after T+3 is how much commission ?

Referring to cash upfront?

Before t+3, if u buy with cash upfront, it's buy 0.18% and $18 and sell is 0.18% and min 18

After t+3,u can sell anywhere le, at poems or kimeng etc, selling will be normal rate, 25 min, 0.275% for $50k n below the contract

This applies for Dbsv cashupfront too
 
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Sinkie

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actually i am curious, whats the diff between a trading rep, broker, remisier and dealer? i'm asking because i recently requested to change my broker, and the brokerage firm told me that its not possible to change broker? somehow long and short of it, I eventually managed to change my trading rep, and not the broker or remisier.

Because your current broker rejected the transfer
 

Tloslm

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Referring to cash upfront?

Before t+3, if u buy with cash upfront, it's buy 0.18% and $18 and sell is 0.18% and min 18

After t+3,u can sell anywhere le, at poems or kimeng etc, selling will be normal rate, 25 min, 0.275% for $50k n below the contract

This applies for Dbsv cashupfront too

yes , cash upfront. thanks
 

toffifee

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Can someone advise me regarding the CAR review from Standard Chartered.

I have transacted in options for US shares, does this count as a listed Specified Investment Product? Thanks.
 

felixleong

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Can someone advise me regarding the CAR review from Standard Chartered.

I have transacted in options for US shares, does this count as a listed Specified Investment Product? Thanks.

yeah, just put it when filling up the CAR form
 

felixleong

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Referring to cash upfront?

Before t+3, if u buy with cash upfront, it's buy 0.18% and $18 and sell is 0.18% and min 18

After t+3,u can sell anywhere le, at poems or kimeng etc, selling will be normal rate, 25 min, 0.275% for $50k n below the contract

This applies for Dbsv cashupfront too

wow now so good ah 0.18 and go into CDP ah? good leh
dunnoe why OCBC one is custodized... sianz, wish they also is go into CDP too
 

Sinkie

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wow now so good ah 0.18 and go into CDP ah? good leh
dunnoe why OCBC one is custodized... sianz, wish they also is go into CDP too

Because they want to force u to sell the shares here ma
 

felixleong

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Standard Chartered Equity in Asia Close Down: Wait for the news | Investment Moats - Stock Market Investing

Standard Chartered Equity in Asia Close Down: Wait for the news

January 8, 2015 by Kyith Ng 1 Comment

My lazy work day was awoken when a fellow blogger informed me that Standard Charted will be exiting the intuitional cash equities, equity research and equities capital market.

Channel News Asia have an announcement here. This give you an idea how in tune with market news I am. I am really quite passive about it during working hours.

Obviously I am very disappointed if my SCB Online trading is impacted:

It is my main trading platform because there are no minimum commission charges and it is a reason why I consistently have emails asking me why my commission is so low on my portfolio here.
No custodian charges
No dividend handling charges
Assess to various markets

I actually really like the service.

The thing is, even their staff are rather shocked about this news. I think they are more anxious if this will affect their business unit more than anything. The message is very vague but if SCB online trading is making use of the equity capital market, then this will affect the consumers as well.

What I felt after consulting some ex brokers and from call in is that it is likely MAS would arrange an orderly transfer to another custodian, which may or may not be your choosing. The fear is whether there will be transfer charges and it will be catastrophic if there are. Already we are seeing from hardwarezone there are people selling out this morning and afternoon.

As far as we know, it is likely a transfer into CDP there will be a per counter charge and there shouldn’t be a charge levied at SCB Online trading end.

Lets not jump the gun. Lets wait until things becomes clearer.











Already we are seeing from hardwarezone there are people selling out this morning and afternoon.


so today which of u guys sold out? lol
 

Sinkie

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Standard Chartered Equity in Asia Close Down: Wait for the news | Investment Moats - Stock Market Investing

Standard Chartered Equity in Asia Close Down: Wait for the news

January 8, 2015 by Kyith Ng 1 Comment

My lazy work day was awoken when a fellow blogger informed me that Standard Charted will be exiting the intuitional cash equities, equity research and equities capital market.

Channel News Asia have an announcement here. This give you an idea how in tune with market news I am. I am really quite passive about it during working hours.

Obviously I am very disappointed if my SCB Online trading is impacted:

It is my main trading platform because there are no minimum commission charges and it is a reason why I consistently have emails asking me why my commission is so low on my portfolio here.
No custodian charges
No dividend handling charges
Assess to various markets

I actually really like the service.

The thing is, even their staff are rather shocked about this news. I think they are more anxious if this will affect their business unit more than anything. The message is very vague but if SCB online trading is making use of the equity capital market, then this will affect the consumers as well.

What I felt after consulting some ex brokers and from call in is that it is likely MAS would arrange an orderly transfer to another custodian, which may or may not be your choosing. The fear is whether there will be transfer charges and it will be catastrophic if there are. Already we are seeing from hardwarezone there are people selling out this morning and afternoon.

As far as we know, it is likely a transfer into CDP there will be a per counter charge and there shouldn’t be a charge levied at SCB Online trading end.

Lets not jump the gun. Lets wait until things becomes clearer.











Already we are seeing from hardwarezone there are people selling out this morning and afternoon.


so today which of u guys sold out? lol

Wrong, receiving sub da (deposit agent) custodian don't charge, it's the delivering custodian that charges,

cdp only charges 10$ per counter if u transfer back to cdp.

Scb need not close their retailer biz or do anything also, they can just set a $50 min comm, then you will be as good as forced to bear the new charges le as well and yet they need not waive off their transfer fee also
 
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highsulphur

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I was hoping they really shut down their retail online biz and allow us to transfer to CDP for free :D
 

Sinkie

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any mention about the bank itself:(

pCJAtay.jpg


Good enough
 

Sinkie

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But people are already scared leh ... duno what would happen in the future.

Actually anything could also happen not only with scb de. Don't worry, they will give ample time for adjustment de.
 

Sinkie

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So it seems the institutional equity has been closed with immediate effect le.

http://www.channelnewsasia.com/mobile/business/standard-chartered-to/1576052.html

In the Retail Clients segment , for example, the Group’s strategy of focusing on key cities and accelerating the switch to digital has resulted in around 2,000 job cuts announced or completed in the last three months. A reduction of a further 2,000 is expected during 2015, primarily to be achieved by not replacing staff when they leave, the bank said.

The bank - which has been struggling with rising bad loans - will close its stock broking, equity research and equity listing desks around the world, and cut more than 200 jobs, Reuters had reported earlier on Wednesday, quoting an internal memo and unnamed sources.

“(Standard Chartered) has not made any money in the last two years,” Reuters quoted a source as saying. The bank had failed to be among the top 10 banks globally for research or trading at the end of 2013, reported Reuters, citing a survey by Greenwich Associates.

The Asia-focused bank will be one of the first global banks to completely exit the equity capital markets business, according to Reuters. London-based Standard Chartered had said it would aim to cut costs by more than US$400 million in a bid to reverse declining profit growth, Reuters added
 

wahkao3

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So it seems the institutional equity has been closed with immediate effect le.

Standard Chartered to close equities business worldwide 'with immediate effect' - Channel NewsAsia

In the Retail Clients segment , for example, the Group’s strategy of focusing on key cities and accelerating the switch to digital has resulted in around 2,000 job cuts announced or completed in the last three months. A reduction of a further 2,000 is expected during 2015, primarily to be achieved by not replacing staff when they leave, the bank said.

The bank - which has been struggling with rising bad loans - will close its stock broking, equity research and equity listing desks around the world, and cut more than 200 jobs, Reuters had reported earlier on Wednesday, quoting an internal memo and unnamed sources.

“(Standard Chartered) has not made any money in the last two years,” Reuters quoted a source as saying. The bank had failed to be among the top 10 banks globally for research or trading at the end of 2013, reported Reuters, citing a survey by Greenwich Associates.

The Asia-focused bank will be one of the first global banks to completely exit the equity capital markets business, according to Reuters. London-based Standard Chartered had said it would aim to cut costs by more than US$400 million in a bid to reverse declining profit growth, Reuters added
all these ppl tio pok with immediate effect, no warning at all, damm pooor thing:(
 

Sinkie

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all these ppl tio pok with immediate effect, no warning at all, damm pooor thing:(

Yeah, sad thing to come to office and you couldn't enter the office bcos your pass no longer work

This is to make sure that u don't get to login to your computer to retrieve as many sensitive information from your pc
 

wahkao3

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i only care about the stock broker scb platform, still there or not?
 
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