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 OSK188, opening trading account

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cherroy
post Apr 18 2008, 03:49 PM

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QUOTE(skiddtrader @ Apr 18 2008, 03:30 PM)
If you are successful in your IPO application, you should be able to sell it online as well as long as it is credited to your CDS account.

Please do remember you can only have ONE 'CDS' account, which holds your shares regardless whether you bought it from OSK, CIMB, Maybank or HLEBroking. All those are trading houses and all will credit and debit shares based on your order and CDS account number.
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One only can have one CDS per investment house or broker house. But one can have mutiple CDS account with different broker house.

For non-nominee account,

If one bought xx share in OSK, then it wil be credited into your CDS that open in OSK.
But if one bought yy share in CIMB, then it will be credited into your CDS that open with CIMB.

Those CDS accounts are not cross-linked and remain as individual one. Aka even you have xx share in OSK CDS account, you can't sell through CIMB even though you have the share. Unless one transfer it to the OSK CDS, otherwise one needs to sell through CIMB.

But one can have 2 trading account with OSK, but only 1 CDS account can be opened with OSK, you can't have 2 CDS account with the same investment house and it will be shared among the 2 trading account.

Hope this clear up a bit.


cherroy
post Apr 18 2008, 04:05 PM

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QUOTE(skiddtrader @ Apr 18 2008, 03:58 PM)
Thanks for the correction cheeroy. I was under the impression I can only have 1 CDS account but didn't know can open another with a different broking house. I thought must use same CDS account.

As per KLSE FAQ;

'Can I open more than one CDS account?
An individual investor is allowed to open only one (1) CDS account with each ADA. However, a corporate investor may open multiple accounts with the same ADA.'

ADA = Broking houses.
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Welcome, I knew because I have multipe CDS with different broker house. tongue.gif
cherroy
post Apr 18 2008, 05:52 PM

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QUOTE(wongck @ Apr 18 2008, 05:08 PM)
Hmm...the IPO I bought is thru OSK CDS account. So means I can sell it online  using OSK online trading?

But I tried that b4, the system doesn't allow me to do that. It said I did not have any stock for that share.
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You need to check with OSK whether the IPO shares had been credited into your CDS already or not.
or
Check with OSK regarding the online trading restriction/problem if the shares already being credited into your CDS.

cherroy
post Apr 23 2008, 02:48 PM

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QUOTE(skiddtrader @ Apr 22 2008, 10:44 AM)
2. If your friend decides to sell at RM6.60, the calculation will be;

RM6.60 x 1000 shares = RM6600 sales

RM6600 + RM28 brokerage fees = RM6628

RM6628 + 0.03% = RM6629.99 (rounded)

RM6629.99 + RM7 stamping duty = RM6636.99 - RM6600 = RM36.99 brokerage fees

Profit therefore is RM6600 - (RM6379.91 + RM36.99) = RM183.1
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Skid,

Your calculation make him confuse.

Net sales amount = 6600 - brokerage fee = 6600 - 36.99 = 6563.01

Net buy amount = 6379.91

So net profit = 183.1

Still the same. Just he might be confuse the way you compute. Make it straight forward, then he can see more clearly and easily.
You method still right, just the way of the calculation, he might not see it.

 

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