US Markets : Close on 10 Apr 2009 & Information on revised SEC Fee

(1) Settlement Information on US Markets for Public Holiday (10 April 2009, Friday)

Please be informed that US markets will be closed on Good Friday, 10 April 2009.

(a) All shares purchased will be due for payment on Trade Date + 3 market days (T+3).

However, due to the public holiday on 10 April 2009, the new due date will be the next market day.

For example:  If you made a purchase on Tuesday (7 April 2009) and Friday (10 April 2009) being a US Public Holiday, the due date for your US contract will be on Monday (13 April 2009).

(b) During the long weekend, contract notes details for Trade Date : 8 April 2009 (Wednesday) will be uploaded to iOCBC website on 13 April 2009 (Monday). 

Prior submission of new orders for US Markets, please check your online order status (Filled / Rejected / Expired) by accessing the "Today's Orders" / "Past Orders" page.

(2) Section 31 Transaction Fee Rate Change

The Securities and Exchange Commission (SEC) announced that effective on settlement date 10 April 2009, Section 31 fee rate applicable to securities transaction and OTC markets on US Exchanges will be revised from 0.00056% to 0.00257% (for Sell trade only).

For more information, please refer to the following websites :

(i) U.S. Securities and Exchange Commission

(ii) Section 31 of the Securities Exchange Act of 1934 for fiscal year 2009

Last Updated on 8 April 2009