Help and Support

Trading

Announcement of Trading Restriction

We have instituted the following trading restriction on the following counter/s listed below. For further assistance or clarification, please call your Trading Representative or our Customer Service at 1800 3388688 or +65 63388688.

Type of Restriction

 

[ ] All trading systems  [ X ] Internet Trading

 

[ ] Counter limit imposed (*see condition(s) below

 

[ X ] Buy Only [  ] Both Buy & Sell

Counter Name/s

 

Noble Group Limited

 

(including rights and warrants issued by the Company, if any)

Effective Date

[DD/MM/YYYY]

 

25/05/2017

Effective Time

[00:00:00h]

 

08:30 hrs

Reason/s

 

 To control credit exposure.

Condition(s)

A deposit of 30% for cumulative open positions exceeding S$30,000 prior to execution of order.

 

Type of Restriction

 

[  ] All trading systems   [ X ] Internet Trading

 

[  ] Counter limit imposfed (*see condition(s) below

 

[ X ] Buy Only  [   ] Both Buy & Sell

Counter Name/s

 

ORIENTAL GROUP LIMITED

 

(including rights and warrants issued by the Company, if any)

Effective Date

[DD/MM/YYYY]

 

03/02/2016

Effective Time

[00:00:00h]

 

08:30 hrs

Reason/s

 

 

To control credit exposure.

Condition(s)

 

A deposit for full payment of the purchase is required prior to execution of order.

 

 

Type of Restriction

 

[  ] All trading systems   [ X ] Internet Trading

 

[  ] Counter limit imposed (*see condition(s) below)

 

[ X ] Buy Only  [   ] Both Buy & Sell

Counter Name/s

 

EMS ENERGY LIMITED

 

(including rights and warrants issued by the Company, if any)

Effective Date

[DD/MM/YYYY]

 

29/01/2016

Effective Time

[00:00:00h]

 

08:30 hrs

Reason/s

 

 

To control credit exposure.

Condition(s)

 

A deposit for full payment of the purchase is required prior to execution of order.

 

 

Type of Restriction

 

[  ] All trading systems   [ X ] Internet Trading

 

[  ] Counter limit imposed (*see condition(s) below

 

[ X ] Buy Only  [   ] Both Buy & Sell

Counter Name/s

 

Jason Holdings Limited

 

(including rights and warrants issued by the Company, if any)

Effective Date

[DD/MM/YYYY]

 

31/07/2015

Effective Time

[00:00:00h]

 

08:30 hrs

Reason/s

 

 

To control credit exposure.

Condition(s)

 

A deposit for full payment of the purchase is required prior to execution of order.

 




Type of Restriction

 

[  ] All trading systems   [ X ] Internet Trading

 

[  ] Counter limit imposed (*see condition(s) below)

 

[ X ] Buy Only  [   ] Both Buy & Sell

Counter Name/s

 

Resources Prima Group Limited

(Formerly: Sky One Holdings Limited)

 

(including rights and warrants issued bfy the Company, if any)

Effective Date

[DD/MM/YYYY]

 

19/01/2015

Effective Time

[00:00:00h]

 

08:30 hrs

Reason/s

 

 

To control credit exposure.

Condition(s)

 

Deposit of 30% is required for amount exceeding S$25,000.



General Information

SAS member companies shall announce on both SAS and their respective websites should they restrict trading of SGX-listed securities.

By making such announcements, it is not the intention of SAS member companies to take a view on any counter, adverse or otherwise, nor assume any responsibility or liability to any person taking action or otherwise, be it for any financial planning, investment, legal, tax or other purposes.

SAS, its member companies and representatives hereby disclaim all liability for any loss or damage of any kind (whether direct, indirect or consequential) incurred by any person arising from the interpretation of the information contained in the announcements.

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.


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.

 

Buy-in Price by Exchange 

For SGX, the buy-in price will be minimum 2-bids  based on previous day closing price, current last transacted or current bid price whichever is higher.

For Bursa Malaysia, the buy-in price will be 10-bids above the prevailing market price.

 

Trade Matching Control

Trade Matching Control

The Matching Control is a mechanism which will prevent a customer from matching his own buy or sell orders. Therefore, if an order is working on the market, any opposite order tentatively sent by the user for the same account, same counter, and same or better price will get rejected.

For example, if a customer using account no. 0123456 keys in an order to buy 1,000 shares in counter A at S$1.00 and uses the same account to key in an order to sell 1,000 shares in counter A at S$1.00 or lower, the sell order will be rejected.


Why couldn’t you match your own trades?

Section 197 (1) of the Securities and Futures Act prohibits any person from creating or doing anything that is intended or likely to create a false or misleading appearance of active trading in any securities on a securities market, or with respect to the market for, or the price of, such securities.

Wash sale could have the effect of creating such false or misleading appearances. Under Section 197(3) read with section 197(4) of the SFA, a person engaging in wash sales in securities is deemed to have created a false or misleading appearance of active trading in securities on a securities market unless the person establishes that the purpose for which he conducted the wash sale was not, or did not include, the purpose of creating a false or misleading appearance of active trading in securities on a securities market.


What would the rejection message be?
 

The rejection message is “You are not allowed to match your own order (GL029). Please check your order and submit again”.

 
How does it affect you? 

Your orders could be rejected if your Buy price is same as/higher than the current best Ask (selling) price or your Sell price is same as/lower than the current best Bid (buying).

 
Why are my orders rejected? 

Your orders could be rejected for the following reasons: 

  1. You have submitted an order with price that is more than 20 bids away from the last done price;
  2. You have submitted an overnight order with price that is more than 20 bids of the previous day’s closing price during the Pre-Opening routine at 8:30am (Singapore time);
  3. Your Buy price is higher than the current best Ask (selling) price or your Sell price is lower than the current best Bid (buying);
  4. You have exceeded your Trading limit. You can contact your broker for clarifications on reviewing your trading limit.

 

When will Trade Matching Control be implemented?

The Trade Matching Control will be implemented on 20 March 2013.

Commission and charges

View all commission and charges

The custodian fees for foreign securities are as follows:

Foreign custodian fees S$2 per counter (per month)
Fee exemption If clients make at least 2 transactions per month for that particular month
If clients make at least 6 transactions per quarter for the entire quarter
If the foreign security is delisted at the point when our company is computing the fees
Mode of billing Invoiced quarterly in arrears subject to a maximum of S$200 per quarter
Mode of payment For client with GIRO facilities with OCBC Securities, the fees will be debited from client’s designated Bank account anytime during the first week of new quarter.
For client with sales proceeds, contra gains, dividends payable, or trust account balances, the fees will be automatically deducted from these amounts once they are due.
Alternatively, you may make payment via cheque or EPS.

Please be informed that securities held with OCBC Securities will be subject to handling fees for corporate action events.

Trading limits and how they work

After you have successfully opened a cash trading account with us, we will assign buy and sell trading limits for the account.

Credit assessment will be conducted based on the information furnished in your account opening form. The trading limits will then be assigned in accordance with the credit assessment.

We will also take into account other considerations in determining the trading limits, including recommendations from your Trading Representative and relevant supporting documents e.g., recent CDP, bank account statement, or income tax assessment.

You can contact your broker for clarifications on reviewing your trading limit.

Checking my trading limit

(a)  Asian markets

To view the available trading limit for Asian markets, you may select any of the stock listed in Asian markets (e.g. SGX) and call-out the buy / sell order ticket accordingly.

 

(b) Non-Asian markets

To view the available trading limit for non-Asian markets, you may select any of the stock listed in non-Asian markets (e.g. US, UK) and click on the stock name to call-out the buy / sell order ticket.

iOCBC instant limit recycling

You can enjoy instant limit recycling for SGX contra trades. You can continue with your trading without going through the hassle of requesting your broker to restore your trading limit into your iOCBC Cash Trading Account.

Instant limit recycling is only available for trades executed in the SGX ready market; trades executed in the unit-share and buy-in markets are excluded.

Kindly refer to the table below for more details:

Description Trades that enjoy instant limit recycling Trades that do not enjoyinstant limit recycling
Types of trading account Cash Trading Account
(under the same trading account number)
Share Financing Account
Share Borrowing Account
Payment mode Cash only CPF, SRS
Type of sell order Online sell trades with matching buy trades:
Same-day buy trades must be executed in iOCBC before the sell trades; or
Any outstanding buy contracts (i.e. all unsettled buy contracts, inclusive of overdue contract)
  • Broker-assisted sell orders
  • Force selling conducted by OSPL
  • Short-selling
  • Selling shares from CDP free balance

You can enjoy instant limit recycling in your iOCBC Cash Trading Account so long there is a matching buy trade for the same shares under the same trading account.

Your trading limits will be instantly recycled in your iOCBC account so long there is a matching buy and sell trades in the same trading account.

Amount of trading limits recycled in your iOCBC cash trading account during intra-day depends on the selling price of your sell trades, whether it constitutes a gain or loss. Please refer to the illustrations below for more details.

 

Illustration 1a: Intra-day matching buy and sell with contra gain

Buy 1,000 ABC shares at S$1.00

Sell 1,000 ABC shares at S$1.50 (contra gain of S$500*)

 

Existing limit calculation New limit calculation (with effect from 3 May 2011)
Action Approved limit
(1)
Limit utilised
(2)
Available limit
(3) = (1) – (2)
Recycled limit
(4)
Available limit
(5) = (3) + (4)
Buy S$5,000 S$1,000 S$4,000 S$1,000* S$5,000
Sell S$10,000 S$1,500 S$8,500 S$1,500 S$10,000

*Note: The contra gain of S$500 will not be reinstated to the customer’s buy limit.

 

Illustration 1b: Intra-day matching buy and sell with contra loss

 

Buy 1,000 ABC shares at S$1.00

Sell 1,000 ABC shares at S$0.40 (contra loss of S$600)

 

Existing limit calculation New limit calculation (with effect from 3 May 2011)
Action Approved limit
(1)
Limit utilised
(2)
Available limit
(3) = (1) – (2)
Recycled limit
(4)
Available limit
(5) = (3) + (4)
Buy S$5,000 S$1,000 S$4,000 S$400** S$4,400**
Sell S$10,000 S$400 S$9,600 S$400 S$10,000

**Notes:

    i.  When customer sells 1,000 ABC shares at S$0.40, he incurs a contra loss of S$600. Henceforth, only S$400 is being recycled at the buy side in his iOCBC cash trading account. He will not be able to get back his full buy limit of S$1,000.

    ii.  However, on trade date + 1, customer’s trading limit will be restored in full (i.e. available buy limit: S$5,000, available sell limit: S$10,000) after system net off his buy and sell of 1,000 ABC shares.

 

Illustration 2: Inter and Intra-day multiple buy orders and sell with contra loss

Item (a):

Approved buy limit: S$10,000a
Approved sell limit: S$20,000 a

Existing limit calculation New limit calculation (with effect from 3 May 2011)
Quantity / price Limit utilised
(b)
Available limit
(c)= (a) – (b)
Remarks Recycled limit
(d)
Available limit
(d) + (c)
Day 1: Buy 5,000 at S$0.30 S$1,500 S$8,500 Average buy price: S$0.50 S$2,1003 S$7,100(2+3)
Day 2: Buy 5,000 at S$0.70 S$3,500 S$5,0002
Day 2: Sell 7,000 at S$0.30 S$2,100 S$17,9004 Contra loss : S$1,4001 S$2,1005 S$20,000(4+5)

*Note: The contra gain of S$500 will not be reinstated to the customer’s buy limit.

 

Illustration 1b: Intra-day matching buy and sell with contra loss

 

Buy 1,000 ABC shares at S$1.00

Sell 1,000 ABC shares at S$0.40 (contra loss of S$600)

 

Existing limit calculation New limit calculation (with effect from 3 May 2011)
Action Approved limit
(1)
Limit utilised
(2)
Available limit
(3) = (1) – (2)
Recycled limit
(4)
Available limit
(5) = (3) + (4)
Buy S$5,000 S$1,000 S$4,000 S$400** S$4,400**
Sell S$10,000 S$400 S$9,600 S$400 S$10,000

**Notes:

i.   When customer sells 1,000 ABC shares at S$0.40, he incurs a contra loss of S$600. Henceforth, only S$400 is being recycled at the buy side in his iOCBC cash trading account. He will not be able to get back his full buy limit of S$1,000.

 ii.   However, on trade date + 1, customer’s trading limit will be restored in full (i.e. available buy limit: S$5,000, available sell limit: S$10,000) after system net off his buy and sell of 1,000 ABC shares.

 

Illustration 2: Inter and Intra-day multiple buy orders and sell with contra loss

Item (a):

Approved buy limit: S$10,000a
Approved sell limit: S$20,000 a

Existing limit calculation New limit calculation (with effect from 3 May 2011)
Quantity / price Limit utilised
(b)
Available limit
(c)= (a) – (b)
Remarks Recycled limit
(d)
Available limit
(d) + (c)
Day 1: Buy 5,000 at S$0.30 S$1,500 S$8,500 Average buy price: S$0.50 S$2,1003 S$7,100(2+3)
Day 2: Buy 5,000 at S$0.70 S$3,500 S$5,0002
Day 2: Sell 7,000 at S$0.30 S$2,100 S$17,9004 Contra loss : S$1,4001 S$2,1005 S$20,000(4+5)

Notes:

Buy limit

When customer sells 7,000 shares at S$0.30, he incurs a contra loss of S$1,4001 (i.e. based on an average buy price of S$0.50). The contra loss of S$1,4001 will be marked down against the recycled buy limit during intra-day. Henceforth, only S$2,1003 is recycled to the buy limit based on the selling price of S$0.30 for 7,000 shares.

Available buy limit will only be S$7,100 (i.e. S$5,0002+ S$2,1003).

 

Sell limit

Recycled sell limit will be S$2,1005 based on the selling price of S$0.30 for 7,000 shares.

Available sell limit will be reinstated to S$20,000.

 

Auto-contra policy

If you have selected cash as the payment mode for your sell orders and at the same time, there is a corresponding outstanding buy contract, iOCBC will auto-contra against your outstanding buy contract regardless of quantity, on a “first-in-first-out” basis. The setoff will be reflected in the settlement currency of the buy contract.

If you do not wish to contra, please inform your Trading Representative, latest by the next market day (before 9.30am).

Note:

  1. Contra / setoff will be applied on trades in foreign securities exchanges. For securities transacted in the Indonesia Stock Exchange, Philippines Stock Exchange and Stock Exchange of Thailand, contra / setoff will only apply to intra-day trades of the same securities (i.e. buy and sell on the same trade date).
  2. Contra is not allowed for CPF / SRS transactions. Please refer to CPF / SRS trading at iOCBC.

Amalgamation

The amalgamation option allows you to combine your orders based on your average traded price. Instead of incurring a minimum brokerage charge for each order, you can save on your brokerage fee by combining all your trades.

 

The following conditions apply when using amalgamation option:

  • You must have indicated “Yes” for amalgamation on all contracts
  • The amalgamated trades must be of the same trading day
  • The amalgamated trades must be of the same stock
  • The amalgamated trades must be of the same settlement currency
  • The amalgamated trades must be of the same action (e.g. buy action amalgamates with another buy action)
  • The amalgamated trades must be the same payment mode

Force order

Under normal circumstances, your order will be rejected by the SGX trading system if the order price is more than 20 bids away from the last done price. “Force order” is a function that enables you to ‘force’ your order through and put your order on the queue.

Although force order allows you to submit order not within the normal price range, you are baring the risk of keying in undesirable price by mistake. Force key is granted to client at the sole discretion of your Trading Representative. We advise you to exercise caution when you submit order with force key.

Kindly refer to SGX website for more information on Minimum Bid Sizes.



Note: 
Force order is not allowed for foreign markets. Force order should not be used when the trade not likely to be matched.

Selling shares bought through other brokerage firms

For SGX trading, you can sell shares through iOCBC provided that they are held as ‘free balance’ in your CDP Securities Account.  If you are unsure of your shares balances, you may visit CDP personally to request for a copy of your latest Statement of Shareholdings or login to CDP Internet Access. Please call CDP at (65) 6535 7511 or visit www.cdp.com.sg for more information.

For Bursa Malaysia or foreign markets, you will need to ensure that your shares are deposited in OCBC Securities Nominees account. Otherwise, please ensure that transfer of the foreign shares is arranged to facilitate your sales of shares through OCBC Securities.

Note:
To avoid any failed trades, investors are strongly encouraged to buy and sell through the same brokerage company and under the same trading account number. An investor who buys shares through a broker at Company A and immediately sells the shares through another broker at Company B must make advance payment to Company A on T + 1 before 8pm via EPS or bill payment so that the shares can be settled in time for delivery on T + 3 market day (before 12pm).

Information on Corporate Action

Corporate Actions are actions by a company which can have a significant impact on the value of that security, as a result, on the value of the shareholder’s portfolio. 

(Reference : definition retrieved from SGX website)   

To find more information on corporation action by companies listed on the various exchanges, refer to the official website of the respective Exchanges


Corporate actions taken by companies listed on SGX

Kindly refer to CDP website for more information on the following types of corporate actions:

  • Dividends
  • Rights
  • Takeovers
  • Warrants
  • Coupon / Redemption

 View list of Corporate Action by the Company

Note: All corporate action event proceeds for securities held in custody by us will be paid directly to your Multi-currency Trust Account.

Examples of Types of Corporate Actions

 

Types of
Corporate Action

Description

Bonus Issue

New shares in a company that are issued free to existing shareholders. New shares are typically issued to shareholders in proportion to their holdings as at a date specified by the company.

For example, the Company declared 1 bonus share for every 5 shares held.

If you are holding 1000 shares, your bonus entitlement will be 200 shares. 

Share Split

A share split is similar to a bonus issue in that shareholders are issued with new shares at no cost. But its effect on the balance sheet is different from a bonus issue.

Usually, a share split reduces the par value of each share, but increases the number of shares by the same proportion.

For example, the Company declares Sub-division of every 1 existing ordinary share into 5 ordinary shares”.

If you originally held 1000 shares, your new holdings will be increased to 5000 shares. 

Share Consolidation

Share consolidation is the opposite of a share split.

The existing shareholder's shares are replaced with a smaller number of shares with a higher par value.

For example, the Company declared “Share consolidation  of every 10  ordinary shares into 1 consolidated share” If you originally held 1000 shares, your new holdings will be reduced to 100 shares . 


Effect on prices whenever there is a corporate action 

(This is for illustration only;  you should not rely on the information below for your trading decision)

The trading price will very often be adjusted accordingly to reflect the effect of the share consolidation / split / dividend / bonus / rights issues or others. However, the stock prices may also be affected by a myriad of factors such as the usual market forces of demand and supply, economic and political events (both locally and overseas).

Prohibited Trading Practices

At OCBC Securities, we always have your interest at heart. While we strive to make our internet online trading portal iOCBC as user friendly as possible for you, we would also want to highlight certain trading practices that are prohibited by law under the Securities and Futures Act (“SFA”).
These practices could possibly be deemed as offences under Section 197 of the SFA on false trading and market rigging transaction. The following illustrates the prohibited practices where there is a No change in beneficial ownership of securities.

Example 1: Customer A has one trading account and used the same trading account number to trade
Customer A places an order via the Internet to buy x number of shares in Company XYZ at $0.50 in the market. Following the first order placed, he later keyed-in another order, via the Internet, to sell shares in Company XYZ at the same price in the market. The sell order was matched (completely or partially) against his own buy order in his trading account in the market. The reverse also applies where customer A’s sell order matches against his subsequent buy order.

Example 2: Customer B has multiple accounts (Cash / SBL / Margin) opened with OSPL and used a different trading account number to trade
Customer B places an order under his cash account, via the Internet, to buy x number of shares in Company XYZ at $0.50 in the market. Following the first order placed, he keyed-in another order, under his SBL / margin account (i.e. different trading account number), via the Internet, to sell shares in Company XYZ at the same price in the market. The sell order was matched (completely or partially) against his own buy order in his cash accounts in the market. The reverse also applies where customer B’s sell order in his cash account matches against his subsequent buy order in his other accounts.


The above examples have the effect of creating a “wash sale”. A wash sale is a purchase or sale of any securities that does not involve a change in the beneficial ownership of those securities.

Section 197 (1) of the SFA prohibits any person from creating or doing anything that is intended or likely to create a false or misleading appearance of active trading in any securities on a securities market, or with respect to the market for, or the price of, such securities. Wash sale could have the effect of creating such false or misleading appearances.

Under Section 197(3) read with section 197(4) of the SFA, a person engaging in wash sales in securities is deemed to have created a false or misleading appearance of active trading in securities on a securities market unless the person establishes that the purpose for which he conducted the wash sale was not, or did not include, the purpose of creating a false or misleading appearance of active trading in securities on a securities market.

Apart from the above, there are some other market conduct offences under the SFA which apply generally to a person as follows:

SFA 198: Securities market manipulation
SFA 199: False or misleading statements, etc.
SFA 200: Fraudulently inducing persons to deal in securities
SFA 201: Employment of manipulative and deceptive devices
SFA 202: Dissemination of information about illegal transactions
SFA 204: PENALTIES


You may refer to Statutes. Online Database for more information

Good-Till Date (GTD) Order on iOCBC

iOCBC is pleased to introduce Good-Till-Date (GTD) orders for the SGX market.

A GTD order allows you to place an order that remains in the queue in SGX up to a specified date, until it is fully filled, specifically cancelled, or when the stock is delisted or expired. GTD orders can be specified up to a maximum of 30 calendar days from the day the GTD order is placed.

For more information on trading GTD orders through iOCBC, click here.