What is the purpose of E-Settlement if everything are handled by dealers?

My job only to select the stock, put the shares quantity and choose either buy or sell. The payment will be settled by the dealers on the T+3. So, I wonder what is the point of having those settlement button?

Ya ya .. E-Settlement .. how you can use it? Is there any way to apply it?

Maybe I'm a little confuse here, my money is to put into the trust account, so the dealer said they will settle all the payment as long my balance is enough. I call them and they said no need to do anything. But, since it always make me make feel uncomfortable due to their late payment that always in the last day, I wish that I could use the E-Settlement button. So, did you put your money into the trust account too or there's some option that I miss while registering before?


This post has been edited by Irzani: Nov 25 2008, 08:34 PM

Perhaps, I choose another option when ticking in the form. I only have an option to deposit money to their account (CIMB), call them and state the amount I put. After that, login, select stocks, buy or sell, logout. After 3 days, they will automatically deduct it. . Or every ITrade is same, I can use the system like you mention?

What is happening to CIMB ITrade today? There's no stock name, price, and other thing? There's no more pre-booking at night? Have to input it by 8.30 a.m?

Anyone here that manage to get stocks payment in the second/third day, and their trust account updated in the same day?

Mine :

1) Wednesday - sold
2) Next week - Tuesday evening just get payment and ITrade system updated

How about you?

This post has been edited by Irzani: Dec 2 2008, 08:48 PM

So, does it mean from Thursday until Tuesday, those ITrade user couldn't do anything if they want to buy stocks? Let's assume all the money already spent in the last stock and they are waiting for the latest payment .. isn't there anyway to buy using ITrade rather than calling the dealer to buy it? As you know, the rate is little higher ..

So, cons in ITrade is we cannot "loan" before they deposit the money, unlike using dealer/remisier... .

P/s: Since you are the only active person reply here, did you wait for the deposit everytime or you already save some in the account just in case to average it? Just asking .. perhaps I should use another method and avoid to use all of the bullet everytime ..

Anyone can enter ITrade right now? There's a hang JAVA applet at 3.40 A.M.

I have a question regarding this ITrade brokerage system. A year before, I've subscribed to the CIMB Investment Banking through a dealer . So, I only need to pay minimum RM 12 since I'm using a trust fund (dunno what they called it, like sharing account). One disadvantage of the sytem is I don't have my own account, I have to called/sms them whenever I have to deposit money for shares. I also didn't have to do anything once my desired shares (buy) matched, where they will do everything for the settlement (T+3) even though there are a function to do the e-settlement in the ITrade system (I'm not allowed to use it ).

What puzzled me is once I checked the ITrade system, my dealer name is difference from both person that doing all the job of the my settlement and manage the deposit money . The branch only have 2 person, so who is the other one? HQ?

My question is how much do they get when I'm using the ITrade? The dealer is difference person, and did the dealer in the branch get any divide profit? or only the dealer at the HQ person? or dealer means they get nothing, only remisier can share the brokerage profit?

Just have a little doubt ..

Thank you ..

This post has been edited by Irzani: Mar 1 2009, 03:21 PM

Why don't you go straight to the CIMB Investment Bank? . I believe this will settle only for 1-2 weeks.

Yes.

There is no charges of cancelling order.

This post has been edited by Irzani: Apr 17 2009, 04:23 PM

What is the advantage of playing contra when the brokerage trade is already minimum RM12.

Case :

Buy 1/1/2009 (sell after contra date) - Brokerage total - RM 13.03

if

Sell 1/1 - 3/1 2009 (within contra date) - Brokerage total - ?



This post has been edited by Irzani: Apr 22 2009, 11:43 AM

I'm using the nominee account RM 12 minimum. That's why I wondered is there any advantage of contra in the brokerage rate when the rate given already minimum? (EG : RM 13.03) . Will they lowered more because of contra?

Do you think there's any setting on the ITrade menu for changing the brokerage rate to RM 12? It's hard to calculate sometime ..

So, look like we have to wait for another version of ITrade or if someone can help by sending an e-mail them to ask the customize version, 2 functions we miss .. 0.42% brokerage rate and minimum RM 12 ..

Today my ITrade platform show million .. how to change it to basic?

Too many 000 number on the screen .. luckily can change to Old Trading Platform to see the common ..

She's lucky to get her money in 2 days, sometimes my ITrade will only be updated after 3 or 4 days after bank in the money.