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CDP Buying in

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Veteran

09-Sep-2009 13:19

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from SGX website

Buying-In

Settlement of trades executed on SGX securities market takes place on the third market day after the trade date (T+3). If the seller does not have sufficient shares for settlement, CDP will conduct buy-in on T+4 to fulfill the seller’s delivery obligation.

The starting buy-in price for any security is 2 minimum bids above either the previous day’s closing price or any of the transacted or bid prices in the one hour preceding the commencement of buying-in, whichever is highest. The buy-in bid prices will be increased by 2 minimum bids from time to time throughout the day until the securities are bought or delivered to CDP.

CDP will charge a S$30 processing fee (subject to GST at prevailing rate) for each failed contract. A buying-in brokerage rate of 0.75% will be levied on each buying-in contract.

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AK_Francis
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08-Sep-2009 22:53

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If not interprete wrongly, CDP exe right to force buying in for a particular stock, with higher bid, which the Shortist failed to cover by end of the trading day. A mandatory fine at least $1000 or 5% of the traded counter amt, whichever is higher. And, d trader would be black listed fr then on.

Kindly visit http://www.sgx.com.sg for trading details.

upforever ( Date: 08-Sep-2009 14:27) Posted:

What does it mean by CDP Buying In ?

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upforever
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08-Sep-2009 14:27

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What does it mean by CDP Buying In ?

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