SCB Trading Account Q: Can I apply for IPO through SCB? No, as SCB does not have a Capital Markets License for "Dealing with Securities" from MAS. Can I apply for bonds through SCB? However, you can buy bonds off the secondary market i. SGX after the bonds are listed. Is SCB safe to use? If they're the custodian for my shares, will they run with my shares if they close down?

Is there a "counterparty" risk here? Here's an image to illustrate the location of your shares: The custodian concept isn't new, nor unique to SCB, as brokerage firms overseas are also custodians for their clients' shares.

In Singapore, we have the CDP - which is a subsidiary of SGX - that handles all shares listed on SGX - presumably to save on economies of scale for corporate action handling. Each of the brokerages have their own custodian accounts as well, though mostly they are utilized for their own products CFD, SBL, MIP, etc. There was a scare that SCB will close their online trading arm at the start of , in which an article was posted online on a financial blog, claiming that SCB will close, and subsequently, the article disappeared - which some people speculate that SCB sent a lawyer's letter to the authors to take down the article or be sued for libel.

For more information, read up "How safe are stock broker nominee accounts? My stock portfolio disappeared! Did SCB "eat" my shares?! This is due to the ringfence system that SCB has put in place for the online equities trading product. So if you see your portfolio as "empty", don't panic.

That's why SCB sends you those paper contract statements, as the hardcopy paper statement constitutes a legally binding contract of service provided to you. Because SCB's online equities trading product is separated and ringfenced from their banking product, and you will need at least one banking product in order to transfer cash into your online trading settlement account s.

Because SCB's online equities trading product is separated and ringfenced from their banking product, although you can access both your banking products and equities trading products in the online banking page. Check out this post by chuanz Q: The SMS OTP is driving me crazy!

It's so slow, I can't login to trade!

Check out my post here. Thankfully, to do a fund transfer you do not need to re-authenticate again. How do I transfer my shares from CDP to SCB? Check out my post in the old thread Market Information Q: Why is it that when I placed an order online and it got filled, but on the Order Status page, it states the Channel is "Call Center", like the picture below? I did not call them to place an order for me Not sure why, though, but nothing to worry about.

As long as you did not specifically call the hotline to place your trade, you will be charged the online rate. I can't buy certain shares on SCB on SGX, like Yoma. Why is this so? Uncle Sam is watching SCB. Certain companies listed on the SGX deal with countries that have economic sanctions which the US has imposed. Therefore, since SCB has dealings in or with US entities, they are prohibited from transacting with securities and companies that have business in those countries.

For more info, refer to this post by bencheongcm Corporate Actions Q: Can I attend AGM if I have shares in SCB? Yes, but you must call the SCB trading hotline to ask. Where are my dividends? If you have not received your dividends by 3 days, call the SCB hotline to check. Can I transfer my shares from SCB to CDP? For certain users, this might be waived off depending on your relationship standing with SCB. Transferring from CDP to SCB should still remain free.

Standard Chartered to close equities business – what now?

How do I trade on mobile? Is there an app? No, there's no app for this. Last edited by Asphodeli; at Standard Chartered - Only Online Trading in town with no minimum commission. Bring over one qn from the other SCB thread which could be useful.

Hi guys, just opened my stan chart trading account. Together with esavers Now i dont know what to do to start trading. I have deposited 22k inside the savinfs account.

Do i transfer money into the trading account? Or can straight trade? And i see so many options to tranfer money to Which optuon to choose.

Click this If you want to trade SGD denominated securities, transfer to the SGD settlement account. If you want to trade USD denominated securities, transfer to the USD settlement account.

After completing the transfer, go to: Please note the "Total Transaction Amount", still need to add GST to it Otherwise your order might get cancelled. Not worth to get your blood pressure up over it. Anytime you wanna check your order status, go to. Asphodeli and odie like this. Last edited by chuanz; at Apply for online equities account and open all market and currency! Bypass min balance method: Asphodeli , lbs and odie like this.

Last edited by Franzz; at I didn't have to apply for esavers account when I was at the branch.

Can i also know can I buy penny stocks through SCB? For stocks that cost less than a dollar. The diagram i think is abit wrong leh Scb holds the shares, [sgx and foreign shares in raffles nominee Pte ltd] and not [sgx shares in Cdp sub custody] and [foreign shares in raffles nominee Pte ltd] Shares bought by clients under credit Suisse Europe limited Brokers are also kept in raffles nominee Pte Ltd too So basically if I'm right, when orders are keyed in, it's executed by credit Suisse.

Last edited by Sinkie; at Your shares are legally owned by a non-trading subsidiary of your stock broker, known as a nominee company.

However, while the nominee company is the legal owner of the shares, you are the beneficial owner, meaning that you have rights over them. Your stock broker will keep records of which client is the beneficial owner of all the shares held by the nominee company, trade your holdings according to your instructions and pass cash from the sale of your shares or from dividends on to you. Having the shares owned by a non-trading company rather than the main brokerage business means that your assets are legally separate from the assets and liabilities of your stock broker.

The segregation between client assets and company assets is crucial to how this arrangement operates. If the broker goes bust, your stocks are still your property.

Note that this system is very different to placing money on deposit in a bank, where you are technically lending money to the bank to do as it wants and are a creditor of the bank if it fails. Stock brokers hold your assets on custody for you, rather than receiving a loan from you. So in theory, segregation ensures your investments are safe.

But how much protection do segregated accounts really provide? So the system is open to fraud and abuse. If your stock broker decides to sell or move shares from nominee accounts, they will be able to do so. So the point at which segregation is likely to offer no protection is just when you need it most.

So establishing which clients own what in the nominee account may take a lot of work and assets may sometimes turn out to have been misplaced in the turmoil. The safety it offers is limited and the system is close to being the absolute minimum that could be accepted, rather than added protection for investors.

Investor compensation schemes and direct registration So what further protection do you have?

Essentially, just one thing. Most major markets have some kind of investor compensation scheme covering assets held with a stock broker or other investment firm. These will pay compensation up to a certain limit if assets are missing from your account and your stock broker is unable to make good the difference. Terms vary between countries. There are strict limits to the amount that will be paid and some assets are often not included.

So if you have a larger account and you want to improve your protection, the obvious thing to do is to have accounts at more than one stock broker. Not only is it less likely that both will fail at the same time, but would be entitled to separate compensation allowances on both accounts if they did.

Some investors also feel that having shares directly registered in your name through the central securities depository where this is possible rather than through a nominee account is safer. Whether this is true is debatable. So that means they could choose to sell them fraudulently without your instructions, just as they could in a nominee account.

So there may be some limited security advantages to holding shares in your name, in addition to other advantages being on the register of shareholders brings.

Instead, it will use a third-party custodian, typically a division of a major global bank that offers these services, such as BNY Mellon, BNP Paribas, Brown Brothers Harriman, Citibank or HSBC. The securities will be held for your stock broker in a nominee account at one of these banks.

But generally only the largest and most global firms will get involved in overseas custody. Normally, your foreign shares will be held at a custodian bank. This introduces an additional link into the chain.

Obviously, the assets held in custody by one of these banks are segregated from its own operations and these are generally very large global institutions. The use of third-party custodians is not always confined to overseas stocks.

Some stock brokers may choose not to look after any client assets and instead outsource all of the custodial arrangements to a specialist. For example, many discount stock brokers in the US use firms such as Penson Financial Services to handle all custodial, clearing and settlement services behind the scenes. Most of all, it should be clear that assurances about client assets being segregated are not really any assurance at all, as clients of spectacular failures such as MF Global occasionally find out.

How can you keep your investments safe? There is no single answer. However, only using reputable stock brokers, having more than one account and trying to keep assets at each firm under the relevant compensation scheme limits are very obvious and easy steps to take.

If you need me to reply, please drop me a PM. Does anyone know how much is the Share transfer from SCB to CDP account? Try switching to token login: If you have not recieved your dividends by 3 days, call the SCB hotline to check. Thread Tools Show Printable Version Email this Page.

Compare full range promo here. LinkBack LinkBack URL About LinkBacks. Page 1 of Which optuon to choose Since I'm kinda bored at work and today's Friday Anytime you wanna check your order status, go to Asphodeli and odie like this. Thanks The Securities Settlement account cannot receive fund transfer from "external" non-SCB accounts.

Standand Chartered Online Trading Account

The diagram i think is abit wrong leh Scb holds the shares, [sgx and foreign shares in raffles nominee Pte ltd] and not [sgx shares in Cdp sub custody] and [foreign shares in raffles nominee Pte ltd] Shares bought by clients under credit Suisse Europe limited Brokers are also kept in raffles nominee Pte Ltd too So basically if I'm right, when orders are keyed in, it's executed by credit Suisse Last edited by Sinkie; at Important Forum Advisory Note.

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