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(30-10-2013, 05:39 PM)chialc88 Wrote: Silvan/BT wrote that there is a contradiction (which is similar to why SGX action is viewed as A******:
When SGX classify the trio as designated securities, reports from brokers were that they were told by the exchange not to allow contra trading, even for clients who had already paid upfront.
This caused tremendous confusion and unhappiness among dealers and their customer.
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For one, I was so scare that I got my broker/brokage house into trouble by pushing my stories...
A Life not Reflected is a Life not Worth Living.
The confusion was not the fault of sgx. The intention to require shares in cdp accounts before selling was clear. Those of us with trading representative licenses know what "designated securities" meant and it is covered as part of the test for dealing licenses. Some dealers just forgot the rules and ended up giving their clients poor advice.