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POEMS System DOWN AGAIN??
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WeiQiQi
Member |
19-Jan-2008 19:37
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A question here to ask those who are familiar with poems trading account. I use my other trading account normally but this week, when my trading limit of my the other account was hit, I use my standby POEMS to buy some shares for the first time. The amount that I'm supposed to pay them differ from what I calculated because I used 0.28% (for online non advisory rates) and I found out that they used 0.33% (for online advisory rate). I don't remember that I was ever asked this question if I want advisory or not. What consitutes advisory? Receiving a one page report that is available to all poems client? Obviously I have never called the remiser nor met nor spoken to him before. Wondering if any of you is paying 0.28%? Although it is not a big amount, I just want to clarify. Thanks in advance. |
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cyjjerry85
Elite |
17-Jan-2008 15:46
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OH GOSH....now STI rebounding back...many counters are catching up...springing back to life....i wonder how the shortists feel...those who shorted when the POEMS system was down...and can't buy back on tt day....now....it's payback time... | ||||||
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viruz7667
Senior |
16-Jan-2008 23:24
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now i will just slowly shift to other platform, try to jump out from poems.....stock tat bought suppose to earn if able to sell...end up today it all way down....sighs. this is not the first time tat happened at critical time..like 4pm+++....so best is not to use poems anymore.seem like poems never take preventive cautious since the last few encounters but only keep promoting their service. With such thing happened again and again..who will want to take the risk to invest with Poems. Definitely not me again...byebye poems. | ||||||
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178investors
Veteran |
16-Jan-2008 23:15
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OKAY! Here's an avenue for all you out there to let off steam. Straits Times reporter would like for you to contact him directly if you're affected by POEMS. Read the following article for details of contact person, email and mobile number. So go ahead, shoot them phillips....... 
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synnexo
Veteran |
16-Jan-2008 23:05
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Perhaps POEMS dunno what reason to give to its customers. To my understanding, critical equipment / servers / building management system (BMS) will have uninterrupted power supply (UPS) connected to them. This is to prevent power outage & also to ensure continuous operations till secondary power supply, usually generator set, kick-in to backup. At most, the secondary power supply should kick-in within 10 minutes. As for their mobile platform, it was functioning as usual. But the volume done is cummulative instead of individual transaction. |
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Geneva88
Member |
16-Jan-2008 22:32
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There is an explanation on their website 16 Jan 2008 We refer to the disruption yesterday afternoon to our POEMS trading platforms.
There was an electrical power fault at our company?s data center which resulted in a sudden power cut to all the hardware hosting our trading applications. We are pleased that normal service has resumed. Preventive steps will be taken to address this issue. We would like to express our sincere apologies for any inconvenience caused. By Management Izzit too many ppl "shot" causing their "electrical power fault"?? |
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winnifong
Member |
16-Jan-2008 22:16
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today poems problem again. either slow or wrong update, trade history show wrong price wrong trans vol. is no more a reliable platform to rely on. anyone use OCBC mobile? any comments? |
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OneSharer
Veteran |
16-Jan-2008 17:43
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sohguanh: About the lending thing, it seems SGX also has a lending programme (per CDP statement). Wonder if SGX's programme can save/earn more/not? (BTW, I really like your < 20 cents trading philosophy. Hope it will be a success). Back to the topic: If there is really a conspiracy in any company, don't think writing to that company is sufficient. (Such can be serious allegation). Need investigation done -- perhaps from relevant external authorities. |
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Pinnacle
Master |
16-Jan-2008 15:30
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jennlsk, I have not heard of that before. Any idea how much is the withdrawal fee? limhpp, I got account from LimTan, UOBKH, DBS Vickers and PEOMS. Just that I happened to use PEOMS to contra and short, which need to use the very same account to sell or buyin. So, many accounts do not solve the problem that many ppl faced yesterday unless boycott them. |
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limhpp
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16-Jan-2008 15:10
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May be you guys should consider to have more broker house |
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sohguanh
Veteran |
16-Jan-2008 14:58
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I tink Phillips got lotsa clients short and neber cover back. Today Wo Bao got an advertisement of Phillips offering a lend and borrow shares program. Basically for ppl who has shares they join this program where they lend their shares out. Vice versa those who short need borrow shares can borrow via this program. Phillips act as middlemen. Interest rate in the example is set at 4% so I tink Phillips take a cut of that rate. Will shortist go for this program if they cannot cover back in time? Hmmmm.....and will existing shareholders lend your shares out to those shortist? They may borrow your shares to press the share price down. Comments anyone? :) |
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jennlsk
Member |
16-Jan-2008 10:39
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Pinnacle, fyi. If you have shorted yesterday and were unable to cover back their position, yr broker can amend the trades involved to their own error account. Withdrawal fee will be charged to clients but brokerages will be waived. All profits and losses arising from the transactions will be charged to clients? accounts accordingly |
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synnexo
Veteran |
16-Jan-2008 09:46
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Thinking of trading today....but then scare POEMS kena technical glitch again....usually this kinda "mishap" can happen 2x in a row...*touchwood*... 
They claimed the severs were down...wonder if someone push it down literally...
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cyjjerry85
Elite |
16-Jan-2008 09:12
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i m not very good in writing good english style letters to the Straits Times Forum page...but if anyone of you can, please do...it will benefit one and many using POEMS...if not such problems occur again and they will repeat... personally picking up Pinnacle cue...i will write to them |
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Pinnacle
Master |
16-Jan-2008 08:57
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I will recommend that everyone of us who are affected write in to poems_enquiry@phillip.com.sg, to complaint and let them know that many of their clients are very very disgusted by their services and supports. Let them have a feel of the power of the mass and give them the pressure to buck up or get out. If just one of two wrote in, they will not feel anything. But I don't think they will ignore if a huge mass wrote. Too much bad press will not be good for their business operation. I had taken the lead and wrote in complaint letter to them. |
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cyjjerry85
Elite |
16-Jan-2008 00:49
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this time round...POEMS have convinced me totally to get out...will no longer be a customer to them...terrible...extremely terrible...this is money man! i learnt truly from this lesson already...once bitten twice shy?nope...MANY times bitten by POEMS and now...goodbye officially | ||||||
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sohguanh
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15-Jan-2008 17:38
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Pinnacle: Relax! In current market at T + 5 buy-in may even be cheaper than your sell price so you can earn but there is the risk of cuz :) | ||||||
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viruz7667
Senior |
15-Jan-2008 17:23
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ya boi! This is not the very first time, caused unnecessary losses...guess i better migrant to L&T or iocbc even though their platform not as friendly as poems. Meantime, if Poems not going to do anything to prevent such things happened, sooner they will lost a lot of customer. sighs.... | ||||||
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Pinnacle
Master |
15-Jan-2008 17:19
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The worst thing is, I CANT COVER BACK MY SHORT POSITION!!! Online not working. Hotline can't get through. No channel to trade short position at all!!! |
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Pinnacle
Master |
15-Jan-2008 17:16
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I heard even from my peoms broker that this is too coincident and happened a few times when market super down. So some major major conspiracy here. 
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