Help and Support

Online Order Submission

SGX Implementation of Requirements on Marking of Short Sell Orders

From 12 March 2013, to enhance the transparency of market activities, SGX will publish daily reports on the total value and volume of short sales for each counter. Accordingly, from 11 March 2013, SGX will require that all sell orders on their securities markets be marked.

This means that you must indicate – based on what you know about your position – whether your sell order is a short sell or normal sell order. The sell order will not be accepted if you do not indicate this to your broker or on the iOCBC trading platform. If you realise that you incorrectly indicated a sell order and it has been executed, you must – before 2pm on the next working day – ask your broker to correct the order.

It is your responsibility to ensure that the sell order is accurately indicated. Under Section 330(1) of the Securities and Futures Act, it is an offence to deliberately make an incorrect indication as this may be construed as an attempt to manipulate the market or as intentional false reporting to SGX.

Please visit www.sgx.com/shortselling for more information, including how to indicate sell orders and modify wrongly indicated orders.

Meanwhile, we have enhanced our iOCBC TradeMobile App to support SGX’s new requirements. The previous App version will be discontinued from 9 March 2013.Please update your TradeMobile App to the latest version now.

Devices               Latest App Version
iOS                      1.70
Blackberry            1.70
Android                1.50

View iOCBC User Guide

Short selling and related penalty fees

SGX will regard the sale transaction as a short-sell and will conduct a buying-in on due date if:

  • You are unable to cover back the short position on the same trading day ; or
  • You do not have sufficient “free balance” securities in your CDP account by 12 noon on due date (i.e. T+3 market days) for delivery*.

* Note: With effective settlement date of 14 December 2009 onwards, CDP will not accommodate any withdrawal of buying-in requests on T+3 should the securities subsequently become available on T+3 after the 12pm cut-off time.

 

Penalty fees for buying-in by SGX

If the buying-in is completed by SGX at the end of trade date + 3, no penalty will be imposed. However, if the buying-in by SGX is unsuccessful on trade date + 3, SGX will continue on trade date + 4 and trade date + 5. SGX will impose a penalty of S$1000 or 5% of the value of the failed trade that was not bought-in (whichever is higher) at the end of T+3. OCBC Securities reserves the right to recover such fine / penalty arising from the failed delivery from the client.

Other fees for buying-in

Processing fee by SGX: S$75 per contract

Commission charged by SGX: 0.75% of contract value

Note:

All fees are subject to the prevailing GST rate.

You will need to settle any losses and fees that were incurred from the buying-in conducted by SGX.

 

Board lot or number of shares

Most stocks are quoted in ‘board lots’. However, stocks quoted on the Stock Exchange of Thailand and all the mining and oil stocks in Philippines Stock Exchange are quoted in ‘number of shares’, for example, Dizon Copper, Vulcan Inds etc.  

Please call us at 1800 338 8688 or (65) 6338 8688 if you need any further clarification.

Board Lot
A standard trading amount that has been agreed upon by stock exchanges.

Odd Lot
A number of shares which is less than a board lot.

For illustration:  In SGX Ready market, a typical board lot size is usually 1,000 units. However, certain stocks may have other board lot sizes as designated by the SGX, and in such cases, the designated board lot size will appear next to the security name. For example SingTel has 3 different board lot sizes of 10, 100 and 1,000 units respectively.



Note :
(1) “Singtel” denotes board lot size of 1,000 units
(2) “Singtel 10” denotes a board lot size of 10 units
(3) “Singtel 100” denotes a board lot size of 100 units

SGX to introduce reduced board lot size from 19 January 2015 onwards

Singapore Exchange (SGX) will reduce the standard board lot size of securities listed on SGX from 1,000 to 100 units from 19 January 2015. A smaller board lot size will make it more affordable for retail investors to invest in a wider range of equities, including blue chips, and enable them to build more balanced and diversified portfolios.

Illustration: Buy 1000 OCBC shares

Before 19 Jan 2015 From 19 Jan 2015
Board lot size: 1000 Board lot size: 100
Fully filled for quantity 1000

 May be partially filled and subjected to prevailing commission charges


  










For more information visit the SGX website.

Price quotation and trading information

Securities quoted and traded on SGX are, by default, in Singapore dollars. For securities that are quoted and traded in other currencies, the currency type will appear at the end of the security name. For examples:

 

Security Name Traded Currency Board Lot Size Allowed Settlement Currency
HKLand US$ US dollars 1,000 US$ or S$
DairyFarm 900 US$ US dollars   900 US$ or S$
HPH Trust US$ US dollars 1,000 US$ or S$
HPH Trust S$D Singapore dollars 1,000 S$


You may also view the security information under the buy/sell ticket. Kindly refer to step-by-step guide below:
1. Select your desired stock

2. Ensure that you have entered the correct information on the buy/sell ticket
a. Quantity (Enter number of units in multiple of board lot size as shown in the buy/sell ticket below, eg : 1000, 2000, 3000 )
b. Check on the “Traded Currency”  and & also make cross reference to the Last Done Price / Buy or Sell price as different securities are traded differently in terms of currencies and bid size
c. Settlement Currency: You can opt to settle your trades in the same traded currency or SGD

Unable to place orders

Please ensure you do not key in any special characters like “@, $, %” etc.  If the problem persists, please log out and login again.

Placing orders for next market day

You can place orders during trading hours and after trading hours for the various exchanges. However, orders placed after trading hours will be for the next trading day.

Amend / withdraw orders

You can amend / withdraw your order provided that the order is not filled. If the order is partially filled, you can only make amendment / withdrawal on those unfilled quantity.

Please note that amendment is only for reduction of the quantity and you cannot amend the other parameters like price and payment mode.

To check the latest status of your order, please click on the “Refresh” button.

If your amendment request is successful, your order status will be updated to “AC” (i.e. reduced order accepted)

If your withdrawal request is successful, your order status will be updated to "C” (i.e. cancelled order accepted). 

You are required to check under “Qty” & “Qty Done” column to ensure that you have executed the correct quantity.

Check order status

You can check the status of the order under the “Status” column in the “Order of the Day” panel. To check your previous days’ orders, kindly click on “Order History”.

Your submitted orders will be shown along with any of the following status:

Status Description Status Description
Q Order accepted in queue PA Reduced order pending to be processed by the Exchange
PO Pending to enter queue AC Reduced order accepted
F Filled order PC Cancelled order for unfilled quantity pending to be processed by Exchange
PF Partially-filled quantity C Cancelled order for unfilled quantity accepted
R Order rejected and void U Unknown status
E Expired order PE Partially expired order with partial-filled quantity
    S Suspended / rejected - unfilled quantity is void

Order confirmation alert

You can choose to receive trade confirmation via mobile phone or email. Simply select "Account Mgmt" menu and next select ‘Alert Setting’.

Do note that the alerts are provided on an “as is, as available” basis and that no warranty is provided as to the availability or timeliness of such alerts. You are requested to check the status of your orders via iOCBC each time you submit your orders.

In addition, CDP will send you a contract note via mail (address as registered with CDP) on the next market day.

Unfulfilled orders

Orders that are not fulfilled will expire automatically at end of the day. If you wish to place the same trade order for the next market day, you are required to resubmit accordingly.

Selecting active trading account number

If you have more than one online trading account, our system will display your lowest numbered trading account number as the default trading account.

Kindly use the “trading account number” drop-down menu on the buy / sell order ticket to trade via your preferred trading account.

Please ensure that you have selected the correct trading account on the buy / sell ticket before proceeding with your order submission.

To change your default trading account on iOCBC:

  1. Click on the “Account Mgmt” tab
  2. Click on the “Personalise” tab
  3. Use the option “Set my default trading account to” and select your default account.
  4. Click on the “Submit” button to set the changes.

Common mistakes / errors during order submission

Selecting wrong trading account number

Please ensure that you have selected the correct trading account on the buy / sell ticket before proceeding with your order submission.

You can double-check the details at the order book again. If you have made a mistake in selecting the wrong trading account number, please withdraw and resubmit your order again immediately.

In the event that the order is fulfilled and cannot be withdrawn, please contact your Trading Representative immediately for further assistance.

 

Selecting wrong shares / quantity of shares

If you have sold the wrong shares or wrong quantity, kindly perform a buyback on your own immediately on the same trading day.


SGX will regard the sale transaction as a “short-sell” and will conduct a buying-in on due date + 1 market day if:

  • you are unable to cover back the short position on the same trading day; or
  • you only realised your mistake on the next market day and do not have existing shares in the free balance of your CDP account on due date for delivery

For more information on the penalty fees for buying-in, kindly refer to SGX website.

 

Realising mistake on trade date + 1

We advise you to exercise prudence in your online order submission. You will not be able to perform a buy back on your own on the subsequent day to cover this short-sold position as the due date of the purchase contract will be after that of the short-sold position.
 
In the event that you do not have existing shares in the free balance of your CDP account on due date for delivery, SGX will regard the sale transaction as a “short-sell” and will conduct a buying-in on due date + 1 market day.

 

Entering incorrect price for SGX market

If you entered incorrectly the following prices:

a) Price (buyer) is greater than seller price

b) Price (seller) is lesser than buyer price

If you have entered a higher “buy” price than the “seller” price, your order will be matched accordingly at the seller's price, vice versa.

We advise you to take note of this and carefully check your online order submission in light of these changes.

iOCBC current portfolio

It is not advisable to sell shares based on the quantity reflected in your iOCBC current portfolio as the iOCBC current portfolio only captures transactions via OCBC Securities Pte Ltd and is only an indicative representation of your portfolio.

Please note that the following actions will not be updated on the iOCBC Current Portfolio:

  • Allotment of Initial Public Offering (IPO) shares;
  • Shares purchased / sold via other securities firms
  • Shares transferred inwards or outwards
  • Any corporate actions such as Shares Consolidation, Shares Split, Rights Issue and Bonus Issue
  • Full or partial CPF revoked trades

Verify your actual holdings against your CDP / CPF Investment / SRS / Share Financing / Custodian statements. Any positions which are oversold will be constituted as “short selling” and will be subject to buying-in by SGX on due date + 1 market day.

To avoid selling the wrong quantity due to corporate actions, we strongly encourage you to read the company announcements at SGX, Bursa Malaysia or other exchanges’ websites before you submit your order online.



Important Notes

Trading in securities, Leveraged FX, and Futures can be very risky, and you may lose all or more than the amount invested or deposited. You should therefore consider carefully and exercise caution in making any trading decision whether or not you have received advice from any financial adviser. The information provided herein is intended for general circulation/discussion purposes only and may not be published or circulated (in whole/in part) without our written consent. It does not take into account the specific investment objectives, financial situation or particular needs (collectively "Objectives") of any particular person. Please seek advice from an independent financial adviser regarding the suitability of any trade or investment product taking into account your Objectives before making a commitment to trade or purchase the investment product. If you choose not to seek independent financial advice, please consider whether the trade or product in question is suitable for you. This does not constitute an offer/solicitation to buy/sell/subscribe for any investment products or to participate in any particular trading or investment strategy. Any proposed transaction is subject to the final expression of the terms in the definitive agreement/confirmation. No representation or warranty whatsoever (including without limitation any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein is given by OCBC Securities Private Limited ("OSPL") and it should not be relied upon as such. OSPL does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OSPL shall not be responsible or liable for any loss or damage whatsoever arising directly/indirectly howsoever in connection with or as a result of any person acting on any information provided herein.