Wait what.

I can choose for a cheaper routing?

Puts on sherlock homes hat

This post has been edited by AthrunIJ: May 30 2024, 11:28 PM

If you do recurrent trade not sure if can select the exchange or not, though you get to save on the FX conversion fees as IBKR will auto-convert the cash for you.

This need to ask sifu Medufsaid.

But for one-off manual trades you always get to choose the exchange to route your order to if you use the Trader Workstation software. Never use SMART router for European stock orders.

For US side large cap super-liquid counters have very narrow bid-ask spread for most exchanges, so just let SMART route the order to the one with the cheapest fee will do.

Need to check soon as weekend!!!

Thanks for info bro

This post has been edited by AthrunIJ: May 30 2024, 11:38 PM

my strategy is to buy USA etfs using recurring investment, then once a year, liquidate that ETF and buy CSPX

Month	Action	Fees
Jan	buy USA etf	$0.35
Feb	buy USA etf	$0.35
Mar	buy USA etf	$0.35 + $0.34 (34 cents because your money in USA etf so additional 15% deduction)
Apr	buy USA etf	$0.35
May	buy USA etf	$0.35
Jun	buy USA etf	$0.35 + $0.68 (you have twice as much money now)
Jul	buy USA etf	$0.35
Aug	buy USA etf	$0.35
Sep	buy USA etf	$0.35 + $1.02
Oct	buy USA etf	$0.35
Nov	buy USA etf	$0.35
Dec	buy USA etf (we'll do double work to utilise the free conversion fees of recurring investment) sell USA etf & buy LSE etf	$0.35 $0.35 + $1.91
	Total fees	$8.50

buying purely LSE will cost you $20.40 yearly. the difference is only $11.90 or RM55.93. use this to calculate in excel

	A	B	C
1	Amount	Tiered	Fixed
2	<<Enter your amount here>>	=min(max(1.7, A2 * 0.0005),39)+max(0.13, A2 * 0.000045)+0.08	=max(4, A2 * 0.0005)

This post has been edited by Medufsaid: May 12 2025, 09:11 AM

Thanks for your explanation!

Thanks for the informative explanation!

Sorry I couldn't understand:

1. "+$0.34, + $0.68", which I understand to be related to dividend, but why the specific number $0.34? "

2. "utilise the free conversion fees of recurring investment". Are you referring to currency conversion fee?

Thank you for your time!

Digital banks are never the hype they promise...

https://archive.ph/J8LTE

• every 3 months, you have fresh deposits into $IVV worth RM3,000. that's $637.21
• $637.21 will buy you 1.2129 shares of $IVV
• assuming dividend of $1.90 per share that's $2.304 in dividend https://www.nasdaq.com/market-activity/etf/...ividend-history
• 15% of $2.304 is $0.345. this is the extra amt you pay bcos you are in USA etf with 30% WHT

after 6 months you have RM6k, 9 months RM9k and so onyes

Thank you for your explanation.

Assuming a monthly investment of RM1,000 (~$212), I can't buy a whole share of IVV, and for fractional shares, their maximum charge is 1%, does that mean that I have to pay $2.12 instead of $0.35?

Another reason why you should stay away from private equity...

https://archive.ph/631aX

Tried transferring 781.45 HKD to IBKR from my Mox Bank HK account today at 10.17 am. Money is in by 10.41 am.

I notice they change their bank entry format. Previously beneficiary name is IBKR but now it's your own name at Citibank N.A.

Sounds like you have your own bank account in HK...

Now gonna try out the auto FX conversion feature to buy BIL ETF. The commission rate is 0.03% right, no FX markup from mid-market interbank rate, last time Medufsaid confirmed?

This post has been edited by TOS: Jun 11 2024, 10:45 AM

TOS you are on cash account? it won't work for margin acct

Of course cash lah haha

Me kiasu kiasi, not like Ramjade

First try was a success. Pretty hassle-free execution. Almost all my USD, SGD and CHF are cleared. Now left my EUR and HKD only.

10 units of BIL ETf bought on NYSE ARCA during the premarket session. Auto FX conversion with no commission charged.

I counterchecked the rate with real time FX on Yahoo Finance and ICE data from TradingView. Damn good exchange rate man!

USD.HKD at 7.58 pm was 7.8099 (Yahoo Finance source, ICE quoted 7.8094 on TradingView). IBKR executed rate (from screenshot) was 7.8109. Markup of... 2 basis points!

USD.CHF at 7.58 pm was 0.8967 (Yahoo Finance source, ICE quoted 0.8967 as well on TradingView). IBKR executed rate (from screenshot) was 0.89675. Markup of... negligible basis points!

USD.SGD at 7.58 pm was 1.3533 (Yahoo Finance source, ICE quoted 1.3533 as well on TradingView). IBKR executed rate (from screenshot) was 1.35365. Markup of 3 basis points.

All in all, super pleased with the FX rates and auto convert features...

This post has been edited by TOS: Jun 11 2024, 08:47 PM

FT Private equity

Private equity firms collect $1tn in fees at reduced tax rates
Oxford professor’s report highlights gentle treatment at time of heightened political scrutiny over ‘loophole’

https://archive.ph/NXhKB

The paper can be found on SSRN preprint server here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4860083

FT Segantii Capital Management

Segantii bet against Canada Goose after call with Morgan Stanley
US prosecutor examined the conversation during its investigation of the Wall St bank

https://archive.ph/sC6Vt

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

Remember CLOs? Yes, the one in 2008... They are back again!

FT Capital markets

European CLO issuance hits record rate as investors chase yields
Launches of vehicles that scoop up risky loans top €22bn in first five months of the year

https://archive.ph/56lCX

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

FT OpenAI

OpenAI expands lobbying team in battle to influence regulation
ChatGPT maker beefs up global affairs unit as politicians push for new laws that could constrain powerful AI models

https://archive.ph/XTbNb

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

Tokyo Metro to be privatized?

FT Opinion | Japanese business & finance

Why an 89p metro ride is a recipe for ideological conflict
An IPO of the national treasure has been an ambition for a decade but risks facing a shift in shareholder priorities
Headshot for Leo Lewis

by Leo Lewis

https://archive.ph/1Xs3h

Just to check with the sifus here on some technical details.

I received trade confirmation reports a few days after the trades and I find that they reversed some of the earlier long USD.SGD trades (IB auto-converted SGD to USD to buy BIL back then, but a few days later at US Eastern 5 pm, market close I believe, they reversed the trade to short USD.SGD, essentially converting USD back to SGD again).



Also, FX settlement period should be T+2 right (US shares changed to T+1, this we already know). How is it possible that IBKR settle the FX trades 1 day after I purchase BIL (i.e., same as the purchase of BIL ETF itself)? Shouldn't my FX trades settle at T+2 (i.e., 13th June?)

TOS i take their reports with a pinch of salt sometimes. nowadays i replicate my trades in excel in case they decide to swallow some money/shares from meforex still at T+2 raises interesting questions though. for those who're doing recurring investment for US shares

This post has been edited by Medufsaid: Jun 15 2024, 09:41 AM

TOS in the last report you shared, the forex fees for the manual BIL purchase are free. is it still free now when you generate the report?

(after dealing with IBKR reports, i'm aware the commission fees are only really finalised days after the actual trade)