CDS account is attached with respective brokers.

If one open CDS with ABC broker, then all shares traded under ABC broker will keep or withdraw through this ABC CDS. You can't transfer the ABC CDS to another broker house to use. So if one wants to trade using XYZ broker then one has open another CDS with XYZ broker.

The first 3 numbers of your CDS is indicating (xxx-xxx-xxxxxxx) which broker house of the CDS account is attached with. Bare in mind also. shares in CDS account can't be cross linked. So even you have TTT stocks in ABC CDS, you can't sell through XYZ broker, as XYZ broker has no access to ABC CDS, even though both account is under your name.

So if you want open an account with HLebroking, then you have to open a CDS with HLebroking, unless you have open one before with them, then don't need.

This post has been edited by cherroy: Jun 15 2008, 10:16 PM

sorry tumpang thread, what is CDS ?

for question 1
do i need to apply new CDS account for hlebroker?

for question 2
u mean view or access with my existing hlB account or need to open a new account for hlebroker?
also
is it provide real time stock price?

for question 3
what u mean 0.42% brokerage fee + 0.03% + RM1 per 1000 RM?are u mean 0.42 charge by broker and RM1 for every RM1000 trade?
how about the 0.03% for what?
any charge for if no use?

This post has been edited by jiant: Jun 15 2008, 11:50 PM

1. I repeat - 'they will do everything that needs doing', including opening a CDS account, for you.

2. Your existing HLB online account will have access to another option HLeBroking (after your application has been processed), and this option gives you access to real time stock price. They will do this for you too.

3. 0.03% = clearing fee, for each buy/sell. No use, no fee.

0.42% brokerage fee - this one go into the broker's pockets. Different broker different charge.

0.03% clearing fee - this one go to Bursa Malaysia's pockets. Same charge for all broker.

RM1 for every RM1000 - this is stamp duty. Go to the gamen's pockets.

thank u for u help...

1. u mean i only need to apply for hlebroking then they will settle all for me include CDS account?

2. u mean i can use HLB online to access my current traditional "saving account" open at bank?
and also
HLebroking account(with the option HLebroking at hHLB online ?)and i can get real time stock price for free?

cheroy,

Technically you are right, however i have tried to use CDS account from OSK to purchase IPO using CIMB click. The IPO share then can later be sold using OSK account.

I didn;t get charge by CIMB Click account but i did with OSK.

regards

I am told that I couldn't transfer money from SharesDirect account back to Saving account without informing them thru the phone (nope I can't transfer them back using online banking, but I can transfer from Saving account to SharesDirect) zzz

I found that this is ridiculous, if I have to call them to do this, means I don't have my banking privacy.

In what way do you mean you don't have banking privacy?

umm.. means they know how much amount i want to transfer back to my saving account :-D

ahhh ok. Uhmmm ok then. hahaha I'm still trying to figure out whats the bad thing other than they know though. Since bank tellers basically know whatever I do at the counter.

Anyway, I guess different people have different limits to what they feel as privacy intrusion.

Because you are not using CIMB to trade, you use CIMB as a platform to apply for IPO only (as a service), so the shares are credited into your OSK CDS account because you use OSK CDS to apply or as you indicated in your application. IPO underwriters or issuer will look at the CDS account number (as in the application form) to credit the share, disregard where the application come from.

During sign up, they told me we need to call them to transfer back money from share direct account is because they will have a better control and validation before they made the transfer. They dun want we accidentally withdraw the money and cause the remaining balance insufficient to hold share after T3.

i just applied a CDS account with Hong Leong, however i was fail to buy as it indicated i have RM0 cash in account.
I am in hurry to buy a counter, so should i deposit money first?

as previously i dunno need to deposit any money first when i was with public investment bank. Now decided to switch here for cheaper brokerage fee.
Any idea with what to do now? if i wanna bank in money, which account should i bank in to?

Btw, additional question, not an issue if i have multi accounts with different brokerage house, right?

You need half the amount deposited into the SharesDirect current account first. eg if you want to buy RM10,000 of shares, you need a balance of RM5,000 in the current account.

No.

In this case, i have no saving account in HL, so how should i bank in money to them?
Just bank into the general account, and update them on this or ... ?

You should have an account known as SharesDirect current account (name may have changed recently) specifically opened at the same time as your shares trading/CDS account for this purpose, ie to pay for the shares.

If you have just applied, the SharesDirect account may not be ready yet. But once you have the account number. you should be able to deposit into it like any normal account, either over the counter or via internet transfer.

This should all have been explained to you when you applied at the bank branch. Did you apply at a branch or did you go through online application with HLG Securities? in which case the process may be quite different.

actually i just applied thru online, later i downloaded a form from internet and send it to HLG via post.
Following, they call to inform me regarding the account is been activated. Now i think i k make ePayment via Maybank2u to my account, so that i may have bullet to trade

There are some differences if you applied online (compared to applying at a branch), I'm not sure exactly what. You need to check with them.

can some HLebroking user tell me, HLeBroking brokerage fee is per transaction basis or per counter basis ?