Stocks & Shares
Stock Market Frequently Asked Questions
If you fail to pay or contra (i.e. sell) your purchase by due date, your purchase may be force sold by the company at its discretion without notice to you. Phillip Securities Pte Ltd (‘PSPL’) has the discretion as to the price and volume put up for force sell at any time. PSPL is not liable to you for any losses or damages arising from the exercise of its discretion; and PSPL may recover from you the losses and expenses incurred in the force sell. Client(s) who are subject to force-selling by PSPL may be suspended from trading for a period as determined by the company.
A fractional share is a share of equity that is less than one full share.
Fractional shares usually come about from certain corporate actions such as stock splits, reverse stock split etc.
CIL is the payment made in lieu of any fractional share entitlement from certain corporate action.
You will have to sign at the back of each share certificate under the “transferor” column or “shareholder” column. In addition, you need to submit a signed W8-BEN form if you have not already done so previously.
Please click here for charges incurred.
Note: We will not accept the following share certificates:
- Restricted share certificates. For this type of share certificates, there will be a “RESTRICTED SHARES” stamped on the front of the share certificates.
- For shares listed on OTC and OTCBB. This is because currently our US custodian does not support online trading for the OTC and OTCBB.
- Shares certificate for counters traded in US markets.
Please note that you are required to buy back your shares to cover the sale position if the physical shares deposited are subsequently found to be not good for deposition.
All orders submitted are only valid for one trading day. Orders not done will be cancelled at the end of each trading day.
Some corporate actions may result in fractional shares/CIL. As there are expenses incurred by PSPL in handling such fractional entitlements, your right to any such fractional entitlements will be waived in accordance with the terms governing your account. Your share entitlement from such corporate actions will be rounded down to the nearest full share.
After submission of orders, you may proceed to [Order Status] to check if the orders are on queue, done, or rejected. All orders will be issued with an order number for easy tracking. You are required to check on the orders status for any possible trade correction before market opens on the next trading day.
You may request an increase in trading limit by calling your Dealing Representative.
Order must be
- done in a market that is eligible for order amalgamation. Please check the ‘Settlement’ section of the individual markets.
- done on the same trading day,
- for the same stock,
- of the same action (BUY or SELL e.g. A buy action can be amalgamated with another buy action),
- executed via the same platform,
- done through the same account,
- paid through the same payment mode (cash or CPF or SRS),
Phillip Securities do not have the obligation to provide tax claim services. You are advised to consult your personal financial advisor or tax advisor.
Before selling, you have to deposit the share certificate/s into your trading account with Phillip Securities Pte Ltd.
You can check your trading limit through the Internet, or by calling your dealing representative.
If you wish to settle in foreign currency (other than SGD), please ensure that your multi-currency facility application has been submitted to PSPL for approval and activation. Failing which, the contract will be settled in SGD which is subject to foreign exchange conversion risk.
To opt in for multi-currency facilities, you can login into POEMS > Acct Mgt > Online Forms under Currency conversion or contact your Trading Representatives for further assistance.
For physical share certificates deposition, the process will take 3-4 weeks to complete.
You will be able to view through your online POEMS account under “Foreign Shareholding” (for Cash Trading accounts) or “Scrip Positions” (for all other account types).
- Step 1: You have to give instructions to that securities firm to transfer the shares to Phillip Securities Pte Ltd.
The letter should clearly state:
- Name of security to be transferred
- Quantity of shares to be transferred
- If it is a securities firm based in Singapore, you need to instruct them to liaise with Foreign Shares Transfer department (ForeignSharesTrf@phillip.com.sg)
- If it is a securities firm based in the US, you must provide custodian details which can be obtained from Foreign Shares Transfer department
- Step 2: You have to provide Phillip Securities with corresponding instructions to receive the shares. Instructions has to clearly state:
- Name of Security to be transferred
- Quantity of shares to be transferred
- If it is a securities firm based in Singapore, please give us the name and telephone number of the contact person from the transferring securities firm
- If it is a securities firm based in the US, please give us custodian details of transferring broker (ie. Name and DTC of the US transferring broker)
- Your Phillip/POEMS trading account number
Please complete this form to transfer foreign shares from other broking house into your account with us.
Attention: Equities Ops
250 North Bridge Road
#06-00, Raffles City Tower
Please contact your trading representatives for more information
(There are no charges for transferring shares to Phillip. However, it is important that you check with the delivering securities firm as to whether there are any charges for transferring your shares out)