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Thursday, 31 January 2013

SingPost - incorrect input

I have promised myself in the past as a reminder to myself not to make unnecessary silly mistake when placing buy or sell order on stocks online.  It's happening again yesterday!

I have SingPost 11 lots under CPF  portfolio and l have sold it all away yesterday but l have entered in error on the quantity as 12 lots.  Not knowing what's next so l have requested for my Dealer for help; and was advised that there will be a buy-in this coming Monday for SingPost 1 lot to cover the overselling.

Such a silly mistake.  Not sure if there is any penalty to pay; l do hope not.  Besides the unknown penalty amount, l will incur the usual brokerage fees and cpf agent bank fees on the 1 lot oversold so this will be super costly to me. 

4 comments:

  1. The charges are as follows

    CDP will buy-in against your short position on Due + 1 market day. There is a buying-in fee of S$30 and commission of 0.75% charged on the buy-in contract by CDP. Other normal fees (clearing fee and SGX Access fee) and Goods and Services Tax apply. Starting from 25 Sep 2008, there will be an additional penalty of S$1,000 or 5% of the value of the failed trade

    ReplyDelete
  2. For penalty, ask yr broker to help to appeal for waiver as it is mistake and not naked short selling

    ReplyDelete
  3. yes, this is exactly my broker will do for me. l am hoping that the appeal is successful.

    ReplyDelete

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