Currency Conversion for client with Multi Currency Facility
Multi-Currency Facility is an added advantage for you to maintain foreign currency balances (USD, HKD, AUD, MYR, JPY, GBP, EUR, CNY and CAD) in your account for ease of trading and efficient management of your foreign currency denominated investments. Settlement for these shares can either be in the traded currency or in SGD. However, your account must have sufficient funds in the settlement currency to avoid incurring interest on debit balances.
To opt-in, login to POEMS > Click Stocks > Acct Mgmt > on the left panel, click Online Forms > Currency Conversion > select Opt in for Multi-Currency facility > Submit and input your POEMS password to confirm your submission.
Auto Currency Conversion Feature
In the event the ledger runs into deficit, arising from below transactions carried out on that day, auto-conversion will take place.
Transaction / Account Type
Cash Management (KC), Prepaid (CC), Custodian (C) Account, Margin (M) Account and Cash Plus Account
|1)Withdrawal of Money 2)Fees & Charges 3)Right Subscriptions||
|1)Purchase Contract 2)Contra Loss||
MYR Ledger only
The auto currency conversion feature is not applicable to the following transaction types:
- Settlement of purchase contracts.
- Settlement of contra losses.
For such transactions, client will need to login to POEMS > Stocks > Acct Mgmt > Online Forms > Currency conversion to submit the currency conversion accordingly.
Please be reminded that auto currency conversion does not apply to Cash trading, Investment Margin and Securities Financing account.