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When Lehman Brothers busted, what happened to people's custody trust accounts?
i suppose it will be the same with SCB?
So google and see what really happened to Lehman Brother's custody trust accounts.
And since you can only trade through SCB...hmmmm????

I had use SCB online trading since day 1 that it's available.

Regarding the "slow", this is what I had experienced.

#1. Most of the time, it takes sub-1 second the moment I pressed the <confirm> button and then it appears in says "limtan" screen.
Hence, I deduced that no-human/trader re-key/entry of price into SGX queue.

#2. I encounter 2 times that after I pressed <confirm> button, it does not appear in "limtan" screen. I double confirm the status of my bid is "ack" so not sure what had happened.
I called up SCB and they asked me to clear my cookies, change proxy etc. After one hour, they suggest that I can called their corporate trader and manually submit for me. Most of the time, calling them will incurred BIG charges but for these two incidences, they can waive for me.

I use SCB mainly because of the low commission otherwise ...

Love Compassion

(13-05-2014, 04:54 AM)D.L Wrote: [ -> ]Hi Buddies,

Recently, I am looking to purchase some shares overseas (esp in HK). As I do only have a brokerage account with Phillips securities as well as a brokerage account with CIMB in Malaysia for the purpose of buying shares in malaysia due to the big difference in commissions charges as compared to the charges by singapore brokerage firm (RM 60). However, i had noticed that standard chartered brokerage offer no minimum commision which is enticing me as a normal retail investor. I had take a look at it , the way that they are operating is somewhat a different ways as others. For example, shares will be kept at their custody not the cdp account. So i am thinking for opening up an account for the purpose of buying shares overseas as it is cheaper compared to poems. Where else, malaysia brokerage firm charges even more for cross border trading compared to singapore. Any buddies would like to comment on standard charted brokerage?

If your purpose of opening a SC account for overseas trading, I don't see how different is it from Philips since the shares will be held by Philips as custodian. Only SGX stocks will be kept in CDP.

Personally, I don't find it slow at all. I don't think it's any different from other platforms. To me a few seconds difference is not going to matter or kill me, unless you are trader

Read carefully, with SCB account, you DONT own the shares.

I found two SCB threads. It may be beneficial to merge them, for ease of reference. Please take note

A reminder, please do a search for related thread, before starting new thread. You doubt might already be answer by existing thread.

Regards
Moderator

(13-05-2014, 01:22 PM)Temperament Wrote: [ -> ]When Lehman Brothers busted, what happened to people's custody trust accounts?
i suppose it will be the same with SCB?
So google and see what really happened to Lehman Brother's custody trust accounts.
And since you can only trade through SCB...hmmmm????

IIRC, there is also S$50k SDIC insurance for non-cash deposit, suppose is for the custodian right?

Dont think so. If I am not wrong SDIC only covered all deposits account (excl foreign currency deposit acc) tentatively, I don't think so investment is being covered.

(14-05-2014, 05:17 PM)D.L Wrote: [ -> ]Dont think so. If I am not wrong SDIC only covered all deposits account (excl foreign currency deposit acc) tentatively, I don't think so investment is being covered.

Yup you are right!!

Quote:Singapore dollar deposits of non–bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.