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There are exception case whereby players can sue after losses, but up front also need money n lawers and courts case.
If not like OHL can settle out of courts case.
teeth53 ( Date: 12-Oct-2013 21:19) Posted:
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Thru...hell n back and wish, just don do silly or senseless things.
" Seu Bey tong" , Just hope don see pple's visiting Bedok reservior.
Vafirish ( Date: 12-Oct-2013 22:35) Posted:
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Just imagine for example a brokerage with 20% of its clients bought 50,000 shares each at 2.00 before the crash. This is just a conservative example. The damage is already very great.
Vafirish ( Date: 12-Oct-2013 22:35) Posted:
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....and to act hastily.
Resulted in some confuse manner as market was confused and it lasted several trading days.
teeth53 ( Date: 12-Oct-2013 22:33) Posted:
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Can't imagine ...........what these people had to go through
Peter_Pan ( Date: 12-Oct-2013 22:12) Posted:
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" The brokers are the frontline players, further down the chain than the credit dept, and even the credit dept, which has to control the limits, wasn't really clear about the rules." (or ignorant on the lack of many, eg: speedy DISSIPATION information by SGX, lack of mkt info to credit dept, to traders and to players)
Initial orignal starter - Vested interest BBs, stake owners, manipulator players, excessive speculators and naked shot players.
Facilitators - on 2nd front, much of such discussion is open up upon, discussing on web, news and even by words of mouth highlighted and aggregate aggressively into prompting SGX to act promptly.
Some brokerage clients have refused to pay up, or have disappeared, three traders told Reuters on Friday. Individual traders, or remisiers, who have to foot the bill may have to declare bankruptcy or sign a bond to pay off what they owe in installments to the brokerages. -Reuters
Blumont Group Ltd, Asiasons Capital Ltd and LionGold Corp Ltd.
On Sunday, it declared them " designated securities" - its first such move in five years.
Under the rules imposed by the SGX, traders cannot short-sell the stocks and buyers have to pay cash up-front.
Once bought, the shares can't be sold until they are deposited into the buyer's account, at least three days later.
Some bought shares after the trading suspension was lifted on Monday and sold on the same day, falling foul of the SGX rules n risking a fine.
" Owing to the confusion, many clients have sold these securities before the due date," Jimmy Ho Kwok Hoong, President of The Society of Remisiers (Singapore), wrote in a letter to The Straits Times on Friday. " They now run the risk of a possible buying-in with fines for short-selling, unless the SGX makes an exception to the rule for these trades."
teeth53 thot - Such statement should be stated very clearly as it seem players often take thing for granted.
If ask U know what is a " designated securities" counter or counters?. They know or knew some what????.
teeth53 ( Date: 06-Oct-2013 21:53) Posted:
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Food for thought...
Singapore brokers, traders face huge losses
Some stock broker clients flee after the collapse of the share prices of three companies. Confusion over SGX curbs
Last Friday trade closed for...
Blumont -
| 0.200 | 0.171 | -0.029c | -14.5% | 36,859,000 | 488,000 | 0.171 | 0.179 | 20,000 |
| 0.210 | 0.146 | -0.049c | -25.1% | 35,763,000 | 303,000 | 0.146 | 0.154 | 50,000 |
| 0.200 | 0.154 | -0.031c | -16.8% | 32,222,000 | 583,000 | 0.154 | 0.156 | 100,000 |
Three counters. Think is S$6.9 billion in lost value.
Acl2013 ( Date: 12-Oct-2013 15:19) Posted:
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Their brokering house probably have the largest exposure in term of % and or $ to those " concern" counters hence they can impose restriction.It is a win win for investors and house.It is restriction and not banned counters.If anyone still keen on those particular counters can approach other brokerage houses where there are no curbs imposed mah.
teeth53 ( Date: 06-Oct-2013 22:04) Posted:
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How many billion get burn last week for this three counter plus others?, who paid for the bill, some of them will go bankrupt soon.
A Singapore unit of one Malaysian broking house was said to have been hit so hard that its senior management had to fly in from Kuala Lumpur to discuss a potential capital injection.
Their clients and/or themselves must be holding huge positions bought at pre-crash price levels.
Their clients and/or themselves must be holding huge positions bought at pre-crash price levels.
yup.
jomini ( Date: 06-Oct-2013 21:49) Posted:
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Just wanted to act as big BRO...among the nine stock brokering houses.
There were nine (9) retail brokerages available for stocks and shares Securities trading in Singapore.
AmFraser, CIMB, DBS Vickers, DMG & Partners, Lim & Tan, Maybank Kim Eng, OCBC, Philip and UOB Kay Hian.
Happi seculating coming this week volatile trading.
Helped themself in the name of helping others.
agreed. prevented many others from getting into the ponzi scheme
Peter_Pan ( Date: 06-Oct-2013 19:55) Posted:
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Seriously speaking, UOBKH may have saved many retailers from the bloodbath by limiting their clients' exposures and raising other brokerages' clients awareness.