O.o, quite fast for wise.

Already credited to IBKR.

Now to wait for bonus and EPF withdrawal to fund more.

😆

dwRK

https://www.reuters.com/business/finance/us...019-2022-03-29/

Does the yield curve inversion tell you anything from "TA" point of view?

this yt just pop up... i dun follow him... but this topic may interest you...

this yt just pop up... i dun follow him... but this topic may interest you...

Just want to confirm. As I am planning to buy VUAA and I checked the opening time of LSE is 8am GMT
So Malaysia time is 1600 GMT+8 right?

Just want to confirm. As I am planning to buy VUAA and I checked the opening time of LSE is 8am GMT
So Malaysia time is 1600 GMT+8 right?

Yes, but the first hour of market open is generally volatile and I personally avoid it, and while VUAA is an Ireland domiciled fund traded on LSE, all it's underlying asset is actually US, so I'd personally recommend you to put your order out after ~11pm Malaysia time, where VUAA will have better tracked price.

Feel free to correct me if I am mistaken.

Err, if you don't mind explaining the after 11pm Malaysian time thingy?

I am new to this international stock buying thingy. 😅

Okay so, I am going to use some likely wrong words here and poorly explain it, so the resident stock sifus may want to correct me:

You are buying an ETF, which is a basket of stocks. So it has two values, a Market Value (The value of the ticker, the price you buy and sell it) and Net Asset Value, which is the sum of all the stock value under the ETF.

Market Value is determined by the traders but mostly market markers (they provide liquidity to anchor the price close to NAV) while the underlying stocks value is determined by traders who trade them. Hence inevitably, there will be difference in these values, we call them Premium and Discounts (e.g. SP500 all share prices total up for 500 for example, but the ETF currently is trading at 480, so you got a $20 discount if you bought it at that time)
Now, market maker try to keep these value as close as possible, to minimize what we call tracking errors.

Further reading: https://www.vanguardmexico.com/en/learn/exp...-discounts-work

So, when you buy VUAA when US market is not open, you are exposed to tracking error - the price you are paying, may not accurately reflect the real value of the underlying stocks. This could be good, could be bad, could mean nothing. It's just something to keep in mind.

You can see the tracking error by checking the fund's page NAV information, and overall tracking error reported in the fund's annual report usually.

Now, market maker try to keep these value as close as possible, to minimize what we call tracking errors.

Finally, the ETF industry has a strong incentive to promote these products over traditional mutual funds. It is not that their stated fee structures are materially higher than those of open-ended mutual funds, but there are opportunities to trade profitably around the management of fund shares that generate large and steady streams of revenue.

The process can be contrasted to the creation of shares in an open-ended mutual fund. In the traditional fund, the manager receives indication of new investments or redemptions over the course of the day. If there is net flow in it is the manager’s job to buy underlying shares of stock at as close to the final net asset value as possible so that the newly created fund shares match up well with the underlying assets. In general, any improvement in the price at which the underlying stocks are acquired accrues to the benefit of all the other fund participants as the new assets go into the pool at less than the end of day NAV. Net redemptions are simply the mirror image of this process on the sell side.

New ETF shares are created whenever the market demand exceeds the existing supply available for sale. At such times an Authorized Participant (AP) goes about acquiring the underlying stocks in the ETF and packaging them into new ETF shares. The shares are registered with the sponsor and become part of the float. Again, the process of redeeming shares is identical on the other side.

The key distinction, however, is that the AP does not act until there is some indication of excess demand for the ETF shares. That indication is the price of the ETF rising above the NAV of the underlying shares. This is an activity that gives rise to an arbitrage opportunity for the AP. Once the ETF price is high enough, the AP buys the lower priced securities and sells the new shares of the ETF, locking in a trading profit.

This activity is essentially the same kind of arbitrage that has gone on between stock index futures and baskets of stocks since the 1980s. In the case of stock index arbitrage-using futures, it is a highly competitive open market and long ago any excess profits were competed out of the system. It is somewhat different with ETFs. While there are many authorized participants operating across literally hundreds of ETFs, there is not complete and open competition for these services. The arbitrage spreads are not egregiously large, but they are attractive enough to encourage institutional ETF participants to promote more business.

This brings us to where we are today. The ETF market has grown to become a major force in all major equity markets around the world, with steadily expanding volumes. The lion’s share of the business is concentrated in a relatively small number of major index ETFs, but new entries appear regularly. Each of the new products is trying to reach critical mass that will support the operations of the ETF and the trading opportunities of the associated authorized participants. Few people know before the fact which of the new products will become blockbusters, or in fact have any success at all. But the economics of the marketplace are such that there are many incentives to continue to create new products. Fortunately for investors the benefits of ETFs are attractive enough to justify the different layers of modest cost. It is debatable whether anyone really needs equity ETFs given the vast array of other alternatives available, but it seems without question that they are a product that is here to stay

Sell put options will get premium immediately ot after expirtion? Thanks. sifu

immediately

expiration date you find out rekt or not

immediately

expiration date you find out rekt or not

What u mean? If ew get premium immediately, so we must buy back the options right before expiry date.

Is it easy to open an IBKR account?

And what documents do they need? Can i use my IC for it?