Frequently Asked Questions
Share Financing (V) Account
With multi-currency facility, will there be automatic conversion of currency for my currencies in debit balances?
For Cash Management, Custodian, Prepaid, Margin, and Cashplus accounts:
From 26 October 2020, all new accounts will be auto enrolled with this feature. An auto currency conversion process will be performed at 7.15pm based on prevailing rates to offset any currency in debit balance by utilizing currencies in credit balance according to currency hierarchy set up in our system. The hierarchy of currencies to be utilized for offsetting in descending order: SGD, USD, HKD, CNY, JPY, AUD, GBP, EUR, CAD, & MYR.
To opt in/out from this facility, please contact your Trading Representative.
For trading accounts that are not opted in for the above feature, clients are required to take the necessary steps to either transfer money into the trading account or submit a currency conversion request to avoid being charged debit interest.
Other faq that might help you
- Information Sheet
- Can I contra my trades?
- Can I open a corporate Share Financing (V) Account?
- Can I open a joint Share Financing (V) Account?
- Can I sell my existing shares through Share Financing (V) Account?
- Can I sell those shares allotted (IPO Shares) through Share Financing (V) Account?
- How do I transfer the shares into my Share Financing (V) Account?
- How long does it take for shares to be transferred into my account?
- How long does it takes to start an account?
- How long will it take to open an account from overseas?
- What are the charges for Share Financing (V) Account?
- What are the requirements to be able to open a Share Financing (V) Account from overseas?
- When must I deposit the required collateral for my outstanding purchase?
- Who can open a Share Financing (V) Account?
- What is the difference between Share Financing (V) Account and Margin (M) Account?
- What if I require more credit?
- With multi-currency facility, will there be automatic conversion of currency for my currencies in debit balances?
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