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 Interactive Brokers (IBKR), IBKR users, welcome!

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SUSTOS
post May 2 2022, 03:44 PM

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QUOTE(Toku @ May 2 2022, 03:14 PM)
It seems Carlsberg and Maersk stock are available on Frankfurt stock exchange. Not sure it is a Europe depository stock of ADR equivalent.
*
Thanks for informing. Upon some further study, I found 119 entries with the exact same ISIN number for Maersk's B shares with my Reuters Eikon. It seems like you can buy these stocks on multiple exchanges.

The annual report of of both Carlsberg and Maersk, however, do not mention so many exchange venues. They only refer to the parent organization's listing venue, i.e. Copenhagen.

My guess is while Chi-X and BATS Europe may offer some liquidity, this may not be the case for say, Vienna Borse. Can ask dwRK for confirmation.

*Unzip to get the Excel file.

This post has been edited by TOS: May 2 2022, 03:45 PM


Attached File(s)
Attached File  Search_1651477093422.zip ( 9.37k ) Number of downloads: 1
SUSTOS
post May 2 2022, 04:37 PM

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QUOTE(dwRK @ May 2 2022, 04:25 PM)
you should be able to buy novob at other eu exchanges... try search using isin...

https://www.londonstockexchange.com/market-...sk-a-s/overview
*
Indeed, ya that is what I found too in the Excel file earlier for Maersk. Seems like the same shares can be traded in multiple European exchanges. But it seems "unofficial business" for the companies like Novo, which never mention any other exchanges apart from the Copenhagen exchange.
SUSTOS
post May 2 2022, 05:15 PM

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FT last weekend (3004-010522): https://drive.google.com/file/d/1hUIouwOxxN...iew?usp=sharing

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FT today (020522): https://drive.google.com/file/d/1lu-Ww9s5iM...iew?usp=sharing

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SUSTOS
post May 2 2022, 09:24 PM

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QUOTE(dwRK @ May 2 2022, 09:21 PM)
most company will only show a major exchange/prices as convenience to their investors... you just unfamiliar with EU markets...
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I see. So, is there a pan-European exchange agreement or something? I have not heard of any. Xetra just seems unrelated to Nasdaq OMX. I am not aware of any cross-exchange "agreement" between the 2.

Also, no mention of possible alternative exchange avenues are mentioned in Carlsberg and Maersk's official annual report.
SUSTOS
post May 2 2022, 11:47 PM

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QUOTE(dwRK @ May 2 2022, 11:21 PM)
TOS

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*
Just to ping Toku too.

Sorry guys, I made a mistake. You can trade Danish stocks directly on Copenhagen. Initially I looked for the list of exchanges and Denmark is not on the list, so I jumped to the conclusion that trading via IB was not possible. But now... see below:

https://contract.ibkr.info/v3.10/index.php?...=&description=S

Just type in "Maersk" and this result will appear. (In the future, can search for any other counters available on IB from the same link.)

https://contract.ibkr.info/v3.10/index.php?...&showEntities=Y

As you can see from the list, CPH is listed as one of the possible exchanges. Others electronic ones like BATS Europe, CHI-X, Torquiese etc. are listed too.

#######################################

The only thing I don't know is how to enable the trading permission since Denmark is not listed as one of the countries in the list here: https://www.interactivebrokers.com.hk/en/in...f=1562&p=europe

However, looking closely at the exchange for each country, some of them like BATS and CHI-X are repeated in multiple countries, so what I suspect is since these are pan-Europeans low-cost electronic exchanges, you can find people trading MAERSK or Carlsberg on them too. I have tried enabling trading permissions for all European stocks and see if buying Maersk again is possible. Will update tomorrow after the changes take effect.

#####################################

In another news, I have contacted Swiss and Danish tax authorities on reclaiming dividends tax withheld from these 2 authorities for their countries' ADRs, e.g. dividends from Novartis's ADR and Novo Nordisk's ADR. Will update here later when replies are received from them.

This post has been edited by TOS: May 2 2022, 11:48 PM
SUSTOS
post May 3 2022, 10:05 AM

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Yesterday afternoon you probably realized your European counters suddenly tumble in the morning session just to recover within minutes.

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We now know the culprit.

https://www.wsj.com/articles/flash-crash-hi...share_permalink

This post has been edited by TOS: May 3 2022, 10:31 AM
SUSTOS
post May 3 2022, 01:41 PM

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FT 030522: https://drive.google.com/file/d/1hAJQRYpDa_...iew?usp=sharing

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I know you are a coffee lover dwRK, here's something for you.

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SUSTOS
post May 3 2022, 09:58 PM

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Heard on the Street

BP Needs to Replace Lost Russian Assets

Oil-and-gas giant is trying to maintain a steady course but it won’t be easy

https://www.wsj.com/articles/bp-needs-to-re...share_permalink
SUSTOS
post May 4 2022, 12:38 PM

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FT 040522: https://drive.google.com/file/d/1loU6vsNElk...iew?usp=sharing

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Many of you invest in UCITS for the cheaper 15% WHT compared to onshore US funds, but not many can claim to understand Ireland better than the US. Here's a "Big Read" on Irish politics.

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This post has been edited by TOS: May 4 2022, 12:38 PM
SUSTOS
post May 4 2022, 12:41 PM

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QUOTE(dwRK @ May 4 2022, 09:37 AM)
stalker you... laugh.gif

yeah... all commodities hitting the roof after covid...

I don't long them futures... in case I forget to close, will end up having to take delivery 17 tons of beans... lol
*
No lah. I just hope to verify Nestle CFO's claim that Malaysian drank more Nescafe in the first 3 months of the year. So I headed over to the coffee lover thread and saw you posting there.

Anyway, as a Nestle shareholder, I thank you for your support for our company's product. laugh.gif
SUSTOS
post May 4 2022, 03:06 PM

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QUOTE(harmonics3 @ May 4 2022, 02:40 PM)
Thanks to this forum I just opened an IBKR account and got it funded through my Singapore saving account.  Now still trying to understand more before starting my investment with IBKR. 
I have some Hong Kong stocks invested through DBS Vickers Singapore for which they are charging quarterly custodian fees and dividend handling fees, may I know whether IBKR imposes any custodian fees for Hong Kong stocks and what are the dividend handling fees, if any?  If IBKR does not charge any custodian fees I am considering transferring my Hong Kong stocks to IBKR and appreciate your advice.
*
Hello.

There are no custodian fees for HK stocks (except if you want to hold physicsl certificate deposit or if you have foreign HK depository receipts) and no dividend handling fees.

https://www.interactivebrokers.com/en/index.php?f=14718

As for transferring to IB, you need to decide on fees and commissions, ease of usage of platform (IB is a bit dull and for more "serious" investors, others you can consider are like Moomoo, Tiger, uSMART, FSM, POEMS, etc.), customer service, platform stability/downtime, and the financial health of the broker itself, for the more astute investor.

Hope that helps.


SUSTOS
post May 4 2022, 03:45 PM

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QUOTE(harmonics3 @ May 4 2022, 03:35 PM)
Hi, thanks for your prompt reply.  I am more of a buy and hold type so would like to minimize the investment costs such as the custodian fees.  I just check DBS Vickers is charging a commission of 0.18% (min: HKD80) while IB is charging 0.05% (min: HKD18) per trade so obviously IB has lower cost.  I just have to figure out how fast and costly is it to transfer my HK stocks to IB.  Else I am think of selling off my holdings with DBS Vickers and buying back in IB.
*
IBKR does not charge for transfer-in positions. https://www.interactivebrokers.com.hk/en/index.php?f=48276

The transfer out charges comes from DBS Vickers. https://www.dbsvickers.com/vickers/pricing/hongkong.page

If your IB account is not based in SG (IBKR UK/US), possible transfer out charges will be 30 SGD per counter + "out-of-pocket expenses". You should contact DBS Vickers to clarify on the charges first. I am not sure if there are other charges like stamp duty on potential documents or GST from the SG government side.
SUSTOS
post May 4 2022, 04:58 PM

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Danish tax authorities have responded.

This should be case for both:

(i) dividends from Copenhagen exchange listed shares
(ii) dividends from the Danish ADRs (e.g. NYSE: NVO)

QUOTE
Response from SKAT - Received 04.05.2022 09:58

Dear [my name].

Thanks for your mail of 2 May 2022.

Danish companies are as a rule obliged to withhold 27% in dividend tax.

From 1 April 2017, claiming a refund of Danish dividend tax must be submitted via Danish Tax Agency`s digital form. This appears from section 5a (1) in consolidated act no. 147 of 4 February 2015 concerning digital communication in the Ministry of Taxation, cf. consolidated act no. 1571 of 12 September 2016 concerning amendment of consolidated act on digital communication in the Ministry of Taxation. From the act, it appears that a request for a refund of withheld dividend tax must be submitted through the digital channels referred to by the Danish Tax Agency.

The digital form directed to by the Danish Tax Agency can be found on our website: www.skat.dk ? at the bottom under Other Languages; English ? at the bottom under Help & Resources; Forms ? English ? 06 Tax; dividends, royalties and withholding tax on interest payments ? 06.030 EN Claim refund of Danish dividend tax ? Open digital form used for claiming refund of Danish dividend tax.

You will need to submit the claim for a refund of dividend tax using the above digital form. Please be advised to attach documentation proving that the requirements for a refund have been fulfilled. The rules are stated in section 69b of the Danish Withholding Tax Act. To read more about the digital form, please visit www.skat.dk ? at the bottom under other languages; English ? at the top; Businesses ? Companies and foundations ? Declaring and paying dividends and dividend tax ? refund of dividend tax - Click here for further information and to make a claim for refund of dividend tax.

We will forward a receipt when the digital application has been received.

Best regards


Helle J Gregersen
Skattestyrelsen
72221818

Skattestyrelsen er en del af Skatteforvaltningen
Original reply message:

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This post has been edited by TOS: May 4 2022, 10:15 PM
SUSTOS
post May 4 2022, 11:18 PM

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Heard on the Street

How to Hitch a Ride on the Porsche IPO

Sports-car brand had another excellent quarter ahead of a proposed minority initial public offering by parent company Volkswagen

https://www.wsj.com/articles/how-to-hitch-a...share_permalink
SUSTOS
post May 5 2022, 11:53 AM

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QUOTE(Toku @ May 5 2022, 10:45 AM)
Yes, probably just follow the procedure stated in their digital portal for the claim. They didn't mention they need a tax voucher, did they?

Before that happens, let's sort out the trading permission issue. Did you manage to get your trading permission granted?
I tried enable everything and still can't place any order on CPH stock. I think it may be due to the subscription to market data issue. I didn't subscribe to access the data since I am a cheapskate.
*
Did you try accessing the digital portal? I can't access the link: https://skat.dk/data.aspx?oid=2246531&lang=us

I don't think you need a tax voucher. Just submit the IBKR statements/reports which display the WHT segment and they will pay accordingly.

Another point to note is the WHT refund, if granted, will be paid in Danish Krone (DKK), so you will need a bank account which can receive or convert DKK to say SGD in order to receive the payments.

As for trading permissions, I have enabled all, just like you, but still can't access. I have open a ticket with IB's customer service. Will update here when they reply me.
SUSTOS
post May 5 2022, 11:56 AM

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QUOTE(annoymous1234 @ May 5 2022, 10:59 AM)
Do anyone knows how to go back to SMS code authentication for login? I recently enroll the IB key thing, but now I want to change back to SMS, can't find it in the settings.
*
You may need to contact IB's customer support to settle this issue: https://www.reddit.com/r/interactivebrokers.../ib_key_issues/

QUOTE
I had this happen to me recently. Had to call their customer support and the guy on the other end was able to do it for me.


This post has been edited by TOS: May 5 2022, 11:56 AM
SUSTOS
post May 5 2022, 12:59 PM

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QUOTE(Toku @ May 5 2022, 12:27 PM)
I tried the digital portal for several steps the other day and seems quite straightforward.

I saw IBKR has DKK account so in theory it should allow us to keep DKK in the account for investment. My guess is the market data access that is preventing me from access.
*
lol I don't think the Danish tax authorities will pay the refund to your IBKR account. (It does not even have an account number, IBKR doesn't provide banking services.)

How come you can access the digital portal? Which browser did you use? I used Chrome on both W10 and W11, either one gives me something like this:

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SUSTOS
post May 5 2022, 01:07 PM

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FT 050522: https://drive.google.com/file/d/12aX4r5n0Sv...iew?usp=sharing

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This one from BT, but still kind of relevant.

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SUSTOS
post May 5 2022, 04:43 PM

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QUOTE(Toku @ May 5 2022, 04:21 PM)
This is the page from the Danish dividend claim.

user posted image

I checked we can wire DKK into IBKR. If the Danish tax authorities are not kind enough to pay the refund directly to IBKR account, perhaps they can pay to the DKK account in Wise. DKK account can be opened in Wise. I am not too sure the details on Wise cross border account though.

Need Sifu to comment on whether Wise cross border account can be used for Danish tax authorities to transfer payment.
*
Try click on that link in that page. That link is the one which does not work for me.

And forget about OMX Copenhagen...

Verdict from IB is:

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SUSTOS
post May 5 2022, 11:06 PM

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Heard on the Street

Shell’s Foggy Outlook Sways Investors but Not Politicians

Record profits have raised the risk of a U.K. windfall tax, even though investors don’t expect the good times to last

https://www.wsj.com/articles/shells-foggy-o...share_permalink

-------------------------------------------------------------------

Beer Shows Pricing Muscle Despite Its Underdog Status

Global brewers Anheuser-Busch InBev and Heineken managed to charge drinkers more than liquor-obsessed investors expected

https://www.wsj.com/articles/beer-shows-pri...share_permalink

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