: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: Standard Chartered 3 years zero commission trading promotion
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
anyone knows how this works regarding the 100k balance to be maintained?

I dun quite understand the t&c of it.

how long does one need to maintain 100k in the account?
maybe you can post the URL of T&C.
$100k for 1yr with 1% FD will give $1000 in interest.

Will the commission you paid be more than that? If so, then it may worth consider.

this url should shed more light.

I find this part confusing:

"Have a balance in your Securities Settlement Account(s) at close of business on 31 December 2013 of not less than the sum of the balance in your Securities Settlement Account(s) as at close of business on 30 September 2013 and S$100,000 (or its foreign currency equivalent) (the "Minimum Qualifying Balance")."

seems that other than having 100k in the Qualifying accounts, you will also need to have enough in your Securities Settlement Account to the tune of 100k+original amt in Securities Settlement Account as of Sep13. (Unless Securities Settlement Account is considered part of Qualifying Accounts)
so just need to maintain tt 100k for 3months or less until 31dec 2013?
(27-10-2013, 11:06 AM)pianist Wrote: [ -> ]so just need to maintain tt 100k for 3months or less until 31dec 2013?

nah - for the next 3 years, u still need to keep a rolling balance higher than the minimum else there's no reimbursement of the brokerages for that quarter.

"You will be given a reimbursement of the brokerage fees paid to the Bank during each calendar quarter (which for the avoidance of doubt, shall refer to each of the following periods, January to March, April to June, July to September and October to December respectively) in respect of any purchase of securities made between 1 January 2014 and 31 December 2016 (both dates inclusive) (the "Brokerage Waiver Period") via the Bank's Online Equities Trading Platform in relation to all exchange markets applied for by such you (the "Reimbursement Sum") provided you maintain on an average daily balance ("ADB") basis in your Securities Settlement Account(s) during such calendar quarter, the Minimum Qualifying Balance."
I see thanks for the clarifying
what about SGX clearing and access fees? SGX need their cut no matter what..
if i am not wrong, this promotion is only for ""buy trades"", and for sell trades you have to pay for commission.

it sounds to me they are giving 50% commission discount for priority customers.

BTW, I did a fit on the number of trades done each day on SCB and found that their commission business grow quite a lot: from about 1200 trades /day in 2012 to 2000 trades /day.