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Is bucketing deemed an offence?
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iPunter
Supreme |
16-Jul-2010 11:21
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In 'real' CFD (which is DMA), real buying and selling in the market queue is involved. But scripts are actually borrowed for selling transactions. Brokers' own 'in-house' CDFs are also an available service but with some minor restrictions. I think CFD is the best thing ever invented since Blue Tack... |
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freeme
Elite |
16-Jul-2010 11:06
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when i trade cfd, when i sell or buy, sometime, i dun see it on the buy/sell list.. so i tink the broker makan it themselves
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AnthonyTan
Elite |
16-Jul-2010 11:01
Yells: "patience" |
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Trade in CFD, you ended up being a loser. When you buy, you buy from the seller. When you sell, you sell to the buyer. The brokers sure to make profit of 1 bid, excluding other charges,
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pharoah88
Supreme |
16-Jul-2010 09:52
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Market Making is like Dabba Trading ? ? ? ? CFD ? ? ? ? ETF ? ? ? ? Covered Warrants ? ? ? ?
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pharoah88
Supreme |
16-Jul-2010 09:48
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Dabba Trading can be easily done for MANAGED ACCOUNTS ? ? ? ?
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pharoah88
Supreme |
16-Jul-2010 09:42
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WHY MAS stIll don't regulate - LAND BANKiNG - WiNE iNVESTMENT - ? ? ? ?
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Hulumas
Supreme |
16-Jul-2010 09:35
Yells: "INVEST but not TRADE please!" |
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Good for themselve and bad for traders and Investors!
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DanielXX
Member |
16-Jul-2010 07:24
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if you look at CFD, it is actually a partial bucketing operation. The brokers do take opposite positions from the CFD traders, though they do eventually hedge most of it. | ||||
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knight-trader
Member |
16-Jul-2010 05:38
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Thanks Laulan for the article about bucket shops. Yes, previously there were a lot of bucket shops in Singapore 'dealing' with soft commodities such as soyabean, pork bellies, etc. Their modus operandi was to provide free seminars which attracted many Singaporeans looking to make their money works for them. The speaker and the rest of the staff were usually very well-dressed, unsurprisingly of course to give a false image. At that time, i was still doing my National Service way back in 1996 and i was 'conned' to invest $7000 (which is a lot considering i was only given $300 NS allowance every month) with one of the so-called traders who i believe know nuts about trading, except some very basic TA such as support and resistance and the use of stochastics. well at least that's what i can remembered. I was a newbie in investing, let alone in trading. To cut the long story short, two weeks after i 'invested', the trader called me and said i have to top up my account. I said what the hell is going on and refused. Instead, i wanted to withdraw the balance but was told the account was left with about $1500. I asked for the trading records and yes, they gave me some paper slips. I thought he was such a lousy trader but only later did i found out that the trades weren't really executed in the real market. When they kept delaying the payment, i reported them to CAD. After numerous coffee sessions with the CAD, the company stopped operation and in the end, the trader returned back the money to me by installment, $150 each time. Soon after that, i think the MAS regulated the whole industry and those unregulated bucket shops were forced to close their business. It's funny that MAS can allow such bucket shops to operated in Singapore for so many years. |
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handon
Master |
15-Jul-2010 23:04
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one can make use of the time difference between the "real-time" and the live-trade pipe via router. only when the customer base is very wide, can do arbitrade... can do it by writing a software... earn 5cts 10cts thingy... |
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niuyear
Supreme |
15-Jul-2010 22:46
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Alert - Plse be warned that Yahoo Finance's intra day trading price is not quite accurate eg. the Day's low price was much lower than those reflected on SGX website and it happened only within few minutes. Better to go to the own brokerage platform to check prices. |
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Hulumas
Supreme |
15-Jul-2010 18:02
Yells: "INVEST but not TRADE please!" |
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I doubt some brokers have practices "Dabba" trading in Singapore, especially to illiquid shares and mostly S chips! I several experienced most of the time my lump sum big odd lots number of transacted buy shares, later I found same volume of lumpsum big odd lots number of the same shares being transacted intraday, if not one to two days later! Would that be so many co-incidences? I left it to every body guess! | ||||
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E-war
Veteran |
15-Jul-2010 17:52
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Wow, didn't know they did that. Does SIN brokerages do this too? | ||||
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Laulan
Master |
15-Jul-2010 17:10
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I was seacrching the internet on securities bucketing. Because many of our local brokerage houses openly inform clients that they may take an opposite trade position of the customers, I am concerned about whether we have similar laws as the USA and India. Here is your article. " Dabba Trading" also known as " Bucketing" is the process used by brokers to route their client's trades outside the Stock/Commodity exchange. In such trading, the broker either does not execute any trade or matches and execute trades on its own terminal. " Dabba" has its origin in the developed markets where a system called bucketing prevails. Bucketing is an illegal practice where a stockbroker executes a customer's trade without taking it to a stock exchange with the hope of making some gains at a future date.
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