[URGENT] Qns on DBS Vickers

[FattChoy]

Does anyone know if I am able to cancel my ordered once it is filled?

Is it possible by calling DBS Vickers and request for cancellation?

 

[JuniorLion]

Does anyone know if I am able to cancel my ordered once it is filled?

Is it possible by calling DBS Vickers and request for cancellation?

Filled = bought.

You cannot cancel but you can sell it.

 

[FattChoy]

Filled = bought.

You cannot cancel but you can sell it.

I entered a incorrect number of shares. The order was filled.

Looks like I need to bare my own mistakes... Is there another way around this?

 

[JuniorLion]

I entered a incorrect number of shares. The order was filled.

Looks like I need to bare my own mistakes... Is there another way around this?

You entered too much or too little?

 

[FattChoy]

You entered too much or too little?

entered too much

 

[goldnut]

entered too much

extra zero?

 

[JuniorLion]

entered too much

Sell the rest.

 

[Smokey.B]

if can be canceled, everyone will cancel their orders when the price drops

who knows maybe tomorrow go up u will make a quick buck

 

[Thoreldan]

If you managed to buy, there's someone who managed to sell. How are u going to reverse it ?

 

[FattChoy]

Ok, thanks for clarifying everyone. I guess I will need to bare this cost and learn to be more careful next time...

 

[Mecisteus]

If you are buying too much, you should sell as soon as possible.

 

[arigatoast]

if can cancel i wont be working already. lol

 

[FattChoy]

Hey bros,

Here is the full situation:

I short sold 75,000 shares because I accidentally entered an extra 0.

After reading through the internet for details I gathered the following:

http://rulebook.sgx.com/en/display/display_viewall.html?rbid=3271&element_id=566&print=1

In the SGX Rulebook, it says that SGX will conduct the buy-in at 3pm if that 75,000 shares "is available in the balance of the Securities Account or sub-account of its customer by 12.00 noon on T+3"

Right now, it is T+2.

My question is: If I buy this 75,000 amount of shares by 12pm on T+3, will SGX do the buy-in for me at 3pm? Because from my understanding, it takes time for the shares to be credited into my SGX CDP account. So in this case, I will not make it by 12pm on T+3. Or do I have to ensure that my buy order for 75,000 shares is filled before 12pm on T+3? How does SGX assess in this case?

If the latter is true, I plan to hedge my position in the event that the share price rise too quickly before 12pm.

Would appreciate if anyone who has experience in short-selling to answer. A very painful mistake for me.

 

[JuniorLion]

I've never done short-selling before so I can't help.

 

[havetheveryfun]

Hey bros,

Here is the full situation:

I short sold 75,000 shares because I accidentally entered an extra 0.

After reading through the internet for details I gathered the following:

http://rulebook.sgx.com/en/display/display_viewall.html?rbid=3271&element_id=566&print=1

In the SGX Rulebook, it says that SGX will conduct the buy-in at 3pm if that 75,000 shares "is available in the balance of the Securities Account or sub-account of its customer by 12.00 noon on T+3"

Right now, it is T+2.

My question is: If I buy this 75,000 amount of shares by 12pm on T+3, will SGX do the buy-in for me at 3pm? Because from my understanding, it takes time for the shares to be credited into my SGX CDP account. So in this case, I will not make it by 12pm on T+3. Or do I have to ensure that my buy order for 75,000 shares is filled before 12pm on T+3? How does SGX assess in this case?

If the latter is true, I plan to hedge my position in the event that the share price rise too quickly before 12pm.

Would appreciate if anyone who has experience in short-selling to answer. A very painful mistake for me.

u can try to PM Sinkie, he is a broker/was a broker

 

[havetheveryfun]

Hey bros,

Here is the full situation:

I short sold 75,000 shares because I accidentally entered an extra 0.

After reading through the internet for details I gathered the following:

http://rulebook.sgx.com/en/display/display_viewall.html?rbid=3271&element_id=566&print=1

In the SGX Rulebook, it says that SGX will conduct the buy-in at 3pm if that 75,000 shares "is available in the balance of the Securities Account or sub-account of its customer by 12.00 noon on T+3"

Right now, it is T+2.

My question is: If I buy this 75,000 amount of shares by 12pm on T+3, will SGX do the buy-in for me at 3pm? Because from my understanding, it takes time for the shares to be credited into my SGX CDP account. So in this case, I will not make it by 12pm on T+3. Or do I have to ensure that my buy order for 75,000 shares is filled before 12pm on T+3? How does SGX assess in this case?

If the latter is true, I plan to hedge my position in the event that the share price rise too quickly before 12pm.

Would appreciate if anyone who has experience in short-selling to answer. A very painful mistake for me.

2 other threads with similar problems, maybe it may help :

https://forums.hardwarezone.com.sg/stocks-shares-indices-92/accidental-short-sell-5305945.html

https://forums.hardwarezone.com.sg/...advice-accidentally-short-sell-5900318-2.html

 

[petromax]

wow.. short selling is very risky. Better you call your broker asap. don't rely on forums reply.

For buying, it is possible to avoid such case by using the cash upfront account (meaning you cannot buy more than the amount of money you put in), but if short selling, the safeguards is your own eye and finger.

 

[FattChoy]

Yes. I have called up DBS Vickers. Because the order was filled and therefore, it cannot be amended/cancelled.

There is nothing I can do now, except to wait for SGX to conduct buy-in on T+3(Monday).

Right now, i just have to hope that on T+3, the share price don't shoot up too drastically. Or I may find a hefty debt charged under my name...

Truly an expensive and painful mistake of carelessness.

wow.. short selling is very risky. Better you call your broker asap. don't rely on forums reply.

For buying, it is possible to avoid such case by using the cash upfront account (meaning you cannot buy more than the amount of money you put in), but if short selling, the safeguards is your own eye and finger.