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There are many ways to go around doing this. It is happening everywhere.
Ya lar, in a company, directors or ceo or chaiaman wanna sell or buy, can also use their subordinates, or families' names mah.. SGX cant query lor.
AK_Francis ( Date: 30-Apr-2010 12:14) Posted:
Ha ha, sound familiar. I use my daughter's mother trading acc, didn't try the wash trade, even in Bursa.
niuyear ( Date: 30-Apr-2010 12:09) Posted:
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INformative!
But, people who so 'professional' in doing such thing, they would have thought of using 2 different account holders names to execute such type of trade. |
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Ha ha, sound familiar. I use my daughter's mother trading acc, didn't try the wash trade, even in Bursa.
niuyear ( Date: 30-Apr-2010 12:09) Posted:
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INformative!
But, people who so 'professional' in doing such thing, they would have thought of using 2 different account holders names to execute such type of trade.
Laulan ( Date: 29-Apr-2010 23:02) Posted:
I received a notice from my brokers the contents I reproduce below.
Dear Customer,
A self-trade is one in which you have an open order on one side of the market (a buy, for example) and you enter another order for the same stock at the same price on the other side of the market (a sell) when the buy is still 'live', and your buy and sell execute with each other. This type of trade is also called a wash trade. Wash trades are illegal -- they give the perception of market activity without the associated risk. Please take great care when trading to avoid entering an order that may cause a wash trade to occur. If you have a buy open and want to place a sell at the same price, it would be best to cancel the buy first so as to eliminate the possibility of a wash trade.
For example: you have an open buy order for 100 MSFT at 31.25 GTC entered yesterday and you enter a sell for 100 MSFT at 31.25 (or below) today. The buy and sell both execute at 31.25 with each other. This would be a wash trade, and must be avoided.
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INformative!
But, people who so 'professional' in doing such thing, they would have thought of using 2 different account holders names to execute such type of trade.
Laulan ( Date: 29-Apr-2010 23:02) Posted:
I received a notice from my brokers the contents I reproduce below.
Dear Customer,
A self-trade is one in which you have an open order on one side of the market (a buy, for example) and you enter another order for the same stock at the same price on the other side of the market (a sell) when the buy is still 'live', and your buy and sell execute with each other. This type of trade is also called a wash trade. Wash trades are illegal -- they give the perception of market activity without the associated risk. Please take great care when trading to avoid entering an order that may cause a wash trade to occur. If you have a buy open and want to place a sell at the same price, it would be best to cancel the buy first so as to eliminate the possibility of a wash trade.
For example: you have an open buy order for 100 MSFT at 31.25 GTC entered yesterday and you enter a sell for 100 MSFT at 31.25 (or below) today. The buy and sell both execute at 31.25 with each other. This would be a wash trade, and must be avoided.
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Hi dude, if both trades executed, u have to pay the brokerage fees for both right?
I received a notice from my brokers the contents I reproduce below.
Dear Customer,
A self-trade is one in which you have an open order on one side of the market (a buy, for example) and you enter another order for the same stock at the same price on the other side of the market (a sell) when the buy is still 'live', and your buy and sell execute with each other. This type of trade is also called a wash trade. Wash trades are illegal -- they give the perception of market activity without the associated risk. Please take great care when trading to avoid entering an order that may cause a wash trade to occur. If you have a buy open and want to place a sell at the same price, it would be best to cancel the buy first so as to eliminate the possibility of a wash trade.
For example: you have an open buy order for 100 MSFT at 31.25 GTC entered yesterday and you enter a sell for 100 MSFT at 31.25 (or below) today. The buy and sell both execute at 31.25 with each other. This would be a wash trade, and must be avoided.
