Pricing
Borrowing Cost
Cost of borrowing typically includes (1) administrative charge, (2) borrowing fee and (3) contract settlement fee. Borrowing fee is computed on a daily basis (non-compounded) where:
Borrowing fee per day = Borrowing Rate / 365 days x Last Done Closing Price x Quantity
| Administration Charge | *SGD 20 per loan contract |
| Borrowing Rate for Shares | Minimum borrowing fee of SGD 15 applies. Interest varies between counters. Contact our SBL desk at sbl@phillip.com.sg or your Trading Representative (TR) for more information. |
| CDP Transfer Fee | Refer to the fees here. |
| Contract Settlement Fee | *SGD 0.35 per contract |
| Negative (debit) Cash Ledger Interest |
SGD: 6% p.a. USD: 7% p.a. HKD: 7% p.a. |
*Charges are subject to GST
Margin Ratio
Margin Ratio (MR) = Total Market Value of Collateral* / Total Market Value of Borrowed & Sold Securities
MR must be maintained above 130% of the market value of the borrowed and sold securities at all times. A margin call will be initiated if the MR falls below the requirement.
*Collateral includes:
- Sales proceeds from short-sell trades
- Cash pledged into SBL account
- Securities pledged into SBL account
In summary:
- Top up within 2 days
120% < MR < 130% - Top up immediately
MR < 120%
Interested in borrowing and lending securities?
Lending fee is computed on a daily basis (non-compounded) and will be accrued to your SBL account on a monthly basis, where:
Lending fee per day = Lending Rate / 365 days x Last Done Closing Price x Quantity
This fee is earned and will be credited to your trading / SBL account in the following month.
Schedule of Charges
| CDP Transfer Fee | Refer to the fees here. |
| Custody Fee | NIL |
| Contract Settlement Fee | *SGD 0.35 per contract |
| Negative (debit) Cash Ledger Interest |
SGD: 6% p.a. USD: 7% p.a. HKD: 7% p.a. |
*Charges are subject to GST
You may also be subject to certain taxes. You can find more information at IRAS e-Tax Guide on Securities Lending and Repurchase Arrangements
