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May Day! May Day! Need your help!
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johnwhite
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30-May-2007 05:09
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john1980, ultrameg, tiandi, jerichoki, Thanks for your reply. SGX executed buy back yesterday, still dun know what price it was. Sad....lose money!  I guess I m the 1st person who did such a silly mistake. Hope the price will go up somemore.
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jerichokl
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27-May-2007 17:56
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CDP is our "warehouse"...share do not get credited unless paid. In this case, Johnwhite have not paid Firm A so Firm B is defintely a Short Sell. If he does NOT do anything, depending on what are his buy and sell prices; theorectically he may not lose or gain much as prices infact may even cancel each other out. The only concern is the penalty bids incurred when SGX buy in for him. Am I right to assume this on his behalf? And, under this circumstances is it better to leave it as it is? |
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tiandi
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27-May-2007 15:28
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your trading day is T (5/22), settlement day is T+3 (5/25). you should already know your CDP statement on 5/25 Night if you have paid your broker before T+3. CDP statement can be checked via its Internet Access. You need to register for the service. In case you have not registered this free service of CDP internet access, it is advisable for registering this service so that you can check CDP statement on all shares paid by CASH. here is the link: http://www.cdp.com.sg/service/internet_access.html
  More than a quick way to access your account information With online access, you will enjoy the freedom of obtaining your latest shareholdings with current portfolio value anytime you wish. CDP Internet Access is also ideal if you desire convenience, as it offers you immediate connection to our e-services: E-Services
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johnwhite
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27-May-2007 12:19
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Anybody know when will the shares be registered to CDP a/c if it was bought on 22/5? |
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ultrameg
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27-May-2007 10:07
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There's a time frame for CDP to register your holding before you can sell. In this case, it is of two different firms. Hence, therotically, You had done a short sell under Firm B. If you wish to do a contra in the first place, you should use the same security firm. Course of action, For Firm A, if you decide to pay up, it is good. If not, sell it off on Monday. For Firm B, just pray there is a big drop coming Monday and Tuesday so as to clock a profit for short-sell. |
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johnwhite
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27-May-2007 09:54
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The firm B said it rec'd SGX report indicating "insuffificient free balance" of the shares I sold on 23/5, i.e. I have a short sell position as there's no shares in my CDP a/c for delivery. Is it because I bought it in firm A and then sold it in firm B? |
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john1980
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27-May-2007 08:44
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When u buy on 22May and sell on 23 May, u are buying on contra. | ||||
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johnwhite
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27-May-2007 01:07
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I bought few lots of shares on 22/5/07 under a securities firm called it "firm A" and sold them on 23/5/07 under another securities firm called it "firm B". On 24/5/07, I received email from firm B that I short sell the shares and SGX will buy back the shares on 29/5/07 Tuesday. Anyone, please tell me what can I do. Appreciated very much for your assistance. | ||||
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