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

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Perisher

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What does the red part means?

https://www.sc.com/en/news-and-medi...tandard-Chartered-announces-new-strategy.html

Becoming lean and focused
The Group is also restructuring its three client businesses to differentiate against local and international competition, and deliver greater efficiency. Corporate and Institutional Banking will reduce its number of capital-intensive products and deliver USD50bn of RWA optimisation.

The transformation of Retail Banking will be accelerated. We will concentrate on large cities in our network that deliver a RoE above 10%, growing the number of emerging affluent clients, and investing in technology to save costs and improve the customers’ experience. We will also exit a number of smaller retail presence countries where the Group is sub-scale. Commercial Banking will be overhauled, with a focus on cost efficiencies, RWA optimisation and greater risk controls.

Invest and Innovate
The Group will cut costs to free up capital to invest in the business. We will invest USD3bn into the Group’s technology infrastructure, and into strategic opportunities where we have, or will create, a competitive advantage:

Grow Private Banking and Wealth Management where we have a good platform and a meaningful competitive position, targeting USD25bn AUM growth by 2018.
Investing to grow our business in Africa, building on our strong brand, where the opportunities are significant

Use our franchise in China and our international footprint to capture the substantial RMB opportunities and retain our leadership in offshore RMB
Improve retail client systems and digital capability (30% of sales and 40% of payments online by 2018) to improve the customer experience and make the bank more efficient

Our regulatory and compliance spend has tripled over the last three years, from US$1/3bn to a US$1bn a year. We will continue to invest in making a meaningful and leading contribution to the global fight against financial crime, and to do so by engaging proactively and transparently with regulators and other stakeholders
 
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noobinvestor

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Still blank?
How many weeks have you started your account?

just started this week.. but seems like my browser can't open it or smth. it gets stuck at http:/stanchard.....initializeIST.do

is it some security settings that im doing wrong for the browser? i tried at my handphone but the same issue as well..
 

Perisher

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just started this week.. but seems like my browser can't open it or smth. it gets stuck at http:/stanchard.....initializeIST.do

is it some security settings that im doing wrong for the browser? i tried at my handphone but the same issue as well..

I just logged in and traded, no issue, you might wanna contact them.
When did you apply for the account?
 

noobinvestor

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I just logged in and traded, no issue, you might wanna contact them.
When did you apply for the account?

i applied last week and i even transferred some money over to the securities account already thinking i could trade >_<
 

Perisher

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i applied last week and i even transferred some money over to the securities account already thinking i could trade >_<

Don't so kan cheong. wait 2 weeks is the norm. They are slow de.
After 2 weeks, call in and ask them.
 

aoptionwriter

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Remember how BP withdrawn from the regional retail market?

What does the red part means?

https://www.sc.com/en/news-and-medi...tandard-Chartered-announces-new-strategy.html

Becoming lean and focused
The Group is also restructuring its three client businesses to differentiate against local and international competition, and deliver greater efficiency. Corporate and Institutional Banking will reduce its number of capital-intensive products and deliver USD50bn of RWA optimisation.

The transformation of Retail Banking will be accelerated. We will concentrate on large cities in our network that deliver a RoE above 10%, growing the number of emerging affluent clients, and investing in technology to save costs and improve the customers’ experience. We will also exit a number of smaller retail presence countries where the Group is sub-scale. Commercial Banking will be overhauled, with a focus on cost efficiencies, RWA optimisation and greater risk controls.

Invest and Innovate
The Group will cut costs to free up capital to invest in the business. We will invest USD3bn into the Group’s technology infrastructure, and into strategic opportunities where we have, or will create, a competitive advantage:

Grow Private Banking and Wealth Management where we have a good platform and a meaningful competitive position, targeting USD25bn AUM growth by 2018.
Investing to grow our business in Africa, building on our strong brand, where the opportunities are significant

Use our franchise in China and our international footprint to capture the substantial RMB opportunities and retain our leadership in offshore RMB
Improve retail client systems and digital capability (30% of sales and 40% of payments online by 2018) to improve the customer experience and make the bank more efficient

Our regulatory and compliance spend has tripled over the last three years, from US$1/3bn to a US$1bn a year. We will continue to invest in making a meaningful and leading contribution to the global fight against financial crime, and to do so by engaging proactively and transparently with regulators and other stakeholders
 

Perisher

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Remember how BP withdrawn from the regional retail market?

But temasek is one of the major shareholders, hopefully they won't pull out of this online trading brokerage. Given what you said, the chances of them leaving is more likely...:(
 

Asphodeli

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But temasek is one of the major shareholders, hopefully they won't pull out of this online trading brokerage. Given what you said, the chances of them leaving is more likely...:(

hope so la. but unlikely to axe SG offices - i mean, look at the number of times the online trading jammed on us recently and during selldowns? :s13: business must be good!

Also very obviously they still want SG office to continue - otherwise, why appoint a new CEO, as compared to the India office, where there still is no CEO. Somes news also from Dubai, HK and India offices also, but Singapore is relatively untouched. So I think it'll still be around.
 

Perisher

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hope so la. but unlikely to axe SG offices - i mean, look at the number of times the online trading jammed on us recently and during selldowns? :s13: business must be good!

Also very obviously they still want SG office to continue - otherwise, why appoint a new CEO, as compared to the India office, where there still is no CEO. Somes news also from Dubai, HK and India offices also, but Singapore is relatively untouched. So I think it'll still be around.

IIRC, they did sack quite an amount of people in the Asia region the last round which includes Singapore.
 

Sinkie

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But temasek is one of the major shareholders, hopefully they won't pull out of this online trading brokerage. Given what you said, the chances of them leaving is more likely...:(

Unlikely they will pull out the online brokerage lah, maybe implement a $10 min commission to pay for technology improvement?
 

Perisher

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Unlikely they will pull out the online brokerage lah, maybe implement a $10 min commission to pay for technology improvement?

Like that also sian half liao...
 

Perisher

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Wah piang don't give them ideas leh...

They don't need us to give them this idea if they really need it, this sort of ideas are a dime a dozen. Increasing price is a easy quick fix for a lot of things.

The thing is, they have the bulk of the cheapo investor because of no min. comm. Once implement a min. comm, it will be like the exodus of OCBC 360 or SCB manhattan etc...
 

linxiaobei

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I don't think that they will be quick in adjusting the commission rates because the customer base they currently have are looking at reducing their transactional costs in order to gain a slight edge in getting higher returns.

If they increase the commission too much and does not differentiate themselves from the mass, their current customer base will shrink lol.

Sent from Sun using GAGT
 

limster

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if you look at trades being done on SGX , a LOT of 100, 200, 300 share trades.

My guess is all of this is Stanchart. Cost-wise, doesn't make sense to use other brokers (even foreigners using IBKR, min is S$5)

Quantity (not value) of trades, my guess is Stanchart is the dominant broker on SGX, so likely to be profitable despite the fact that they incur costs sending you contract notes even though your commission might be 20 cents :)
 

Steyr69

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If they impose standard flat commission charge like other brokers, then no point going thru them. Furthermore, stocks are inside their vault.....i much prefer to be in cdp. This is the risk i took when buying stocks thru them. The min commission is the dangling carrot....remove it....i will switch back using poems....

Sent from Asus ME173X using GAGT
 
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