FAQS Settlement
Buyer Securities Settlement
A buyer will have his CDS account credited by T+2. However, if a buyer fails to pay by 2pm on T+2, the company shall then "sell-out" the shares to cover his outlay on T+3.
Seller Securities Settlement
A seller's CDS account is debited by T+2. This also means that a seller's account does not have to be in credit, at the point when he trades. However, he must have sufficient shares credit in his CDS account on T+2 by 11.30am. To settle such trade, he can transfer the required shares into his account on T+2 day itself before 11.30am.
If a seller fails to have his shares in his CDS account to settle a trade on T+2 by 11.30am, his trade will fail and buying-in will be instituted against him on T+2.
No, it’s only available Mondays to Fridays (except Public Holidays), from 7a.m. to 5p.m.
Payments can be made anytime within the 2 market days settlement period. However, all payments must reach us no later than 2 market days from the date of transaction by 12.30pm. If payment is not received by due date, the contract will be forced-sold by the company without notification.
Payments for contra losses are to be settled within the grace period of two (2) market days from the day of sale. Interest would be charged if payments are made after the grace period.