New system for OSK Investment

KUALA LUMPUR: OSK Investment Bank has formed a strategic partnership with Silverlake Capital Market Solution Sdn Bhd to implement the Core Capital Market and Investment Banking Systems.

OSK chief executive officer Ong Leong Huat said the agreement, which was for an indefinite period and undisclosed cost, would boost the investment bank's efficiency and integration.

"OSK, which started out as a broker, is using (computer) systems that are built one on top of the other as we have expanded.

"It makes sense now to develop a custom-made system that will provide the best service to customers as well as for internal efficiency," Ong said after the partnership signing yesterday.

According to Silverlake president Ronnie Tan Tai Ngee, the first component of the new system could be rolled out in as early as six months.

To date, Silverlake had taken less than three years to implement its projects, even of this size, said Silverlake chairman Goh Peng Ooi.

Silverlake was one of only 10 core systems software developers in the world and had about 50% of the Malaysian banking systems market and close to 70% of the market in Indonesia, he added.

OSK's overseas branches, DMG & Partners Securities Pte Ltd in Singapore and OSK Asia Holdings Ltd in Hong Kong, will also use the new system.

URL: http://biz.thestar.com.my/news/story.asp?f...83&sec=business

CIMB i-trade users,

Kindly take note:

Please take note that minimum brokerage has been revised to RM28.

Any CIMB i-trade user here?

Want to ask about this:



What does it mean by withdrawal cash?

http://www.itradecimb.com/web/faqWithdrawal.asp

I still don't get it.

Let say, I transferred money from Maybank using the secured channel in the online trading system.

Then I bought some share from some counter.

I should settle that amount under e-Settlement right?

After that, let's say that I want to sell them out. Where's the money will be located after the sale?

Do I need to the Withdraw as stated in the earlier post?

Sorry as I'm very new to this. Please enlighten me. Thank you.

I believe he's referring to an online trading account with PB:

http://www.pbebank.com/en/en_content/perso...hare/index.html

Does HLB online trading portal offer the lowest brokage fee?

How much it is? Min brokage fee? Precentage wise?

From CIMB i-trade FAQ, there's a question that caught my interest:

10) Will my deposit earn interest?
Yes, at prevailing market rates.

What does it mean? What is the market rate?

I don't think it'll create any problem. I tried of submitting for more than 5 requests per day upon cancelling or revising the sell price.

CIMB i-trade has roughly the same rate but the min fee is RM 28:

Fee Minimum RM28/0.42% +RM1/1000 Stamp Duty +0.03 Bursa Cost

3 days to be exact right? Similar to your T+3 when you buy.

No need to go to the branch.

To open an online trading account, go to http://www.itradecimb.com/bin/home.asp

Then click on Sign Up>Individual Online Registration. This will allow access to the trading platform but cannot trade.

In order to trade, you need to open a trust account with them. Right after you finished with the Individual Online Registration, it'll guide you to print a set of forms. Fill Fill them and submit to the CIMB Securities.

That's for trading via CIMBClicks I believe.

The min deposit for first time trading in CIMB i-trade is RM 1k.

Fair treat. When you buy, you're given 3 days. I wasn't awre of this these until I performed my first SELL.

Yeap but should be:

stock price (number of shares matched x unit share price) + commission + stamp duty + clearing fee

That price is per share (1 unit).

I'm not sure regarding the covention but for Bursa, 100 shares == 1 lot.

Beside brokage fee which takes large percentage on the extra amount (apart from the amount you paid for matched share), you need to pay for stamp duty and clearing fee:

2. Clearing Fee: 0.03% of Contract Value subject to a maximum fee of RM1,000
3. Stamp Duty: RM1 for every RM1,000 subject to a maximum fee of RM200

For your example of 1000 share @ 0.20:

Purchase of matched share: RM 200
Brokage fee @ 0.7%: RM 28 min
Clearing fee: RM 0.06
Stamp duty: RM 1

TOTAL: RM 229.06

To breakeven, you need to sell at the price of 0.258.

You can use the calculator: http://www.einvest.com.my/nettrade/forum/frm_Calcstk.asp?

Margin account should be referring to quick access for financing in trading.

Example of bad comments?