FAQ

 

Trading

1. On which regional bourses can I trade?
POEMS allows investors to trade shares on the following:

For more details, please click on the respective markets above.

Clients who wish to trade on foreign bourses not available on over the Internet may do so through the POEMS Dealing Team at 65351144 or through your respective dealers and remisiers.

 

 

2. Can I place trading orders 24 hours a day?

For stocks and shares, you can place trading orders for 24 hours, except during the period between 5.05pm – 5.15pm. Orders placed after 5.15pm will be placed on queue on a first come first serve basis for the next trading day. For futures trading, please refer to the POEMS contracts cut-off times.

 

3. Can I use my CPF funds to purchase shares?

Yes you can. Before submitting a CPF trade, you need to open a CPF Investment Scheme account with an agent bank. Please refer to CPF Website for more details. The CPF Investment Scheme account number also needs to be updated into your Trading account with us. Please contact your trading representative to update your CPF Investment bank account details. It will take 2 – 3 working days for the linkage to be updated. Once updated, CPF trades can be conducted on POEMS.After the linkage has been established, you will need to select the option “CPF” under “trade type” to conduct a CPF stocks trade. The counter must be a CPF trustee stock in order for you to be able to use your CPF OA funds to trade. You can identify CPF trustee stocks when you login to POEMS, click on STOCKS > Price. There will be a key symbol next to the counter name to indicate that it is a CPF trustee stock.Please note that you can only submit CPF trade after linkage has been established. Contra is not available for CPF trades.Note:
To conduct CPF Rights / Warrants issue trade, you would be required to conduct a cash trade then contact your trading representative within the same trading day to convert it to a CPF trade. This also applies to Non CPF approved shares that are given as bonus shares by CPF approved counters. If you have not provided your CPF Investment bank account details, please provide the details to your trading representative on the same trading day.For CPF Rights issue trade you can only sell off the rights or exercise it base on what is credited into the CPF Investment Scheme account, You will not be able to purchase it using CPF funds through the trading account.

 

4. Can I use my SRS funds to purchase shares?

Yes you can. Before submitting an SRS trade, you need to open an SRS Investment Account with an agent bank. The SRS Investment Scheme account number also needs to be updated into your Trading account with us. Please contact your trading representative to update your SRS Investment bank account details. It will take 2 – 3 working days for the linkage to be updated. Once updated, SRS trades can be conducted on POEMS.After the linkage has been established, you will need to select the option “SRS” under “trade type” to conduct an SRS stocks trade. You are advised to check on the SRS eligibility with your SRS operators before submitting the order.Please note that you can only submit SRS trade after linkage has been established. Contra is not available for SRS trades.

 

5. How can I check the status of my orders?

After your orders have been submitted, you can 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.

 

6. What is the validity period for my orders?

All orders submitted are only valid for one day. Orders not done will be cancelled off at the end of each day. New orders need to be submitted for trading the next day.

 

7. Can I withdraw my orders?

Orders that have been processed (done) cannot be withdrawn.

 

8. What if I short sell a counter and did not cover my position on the day itself?

SGX will regard the sale transaction as a short-sell and will conduct a buying-in on due date.

 

9. Are there any penalties on short-selling?

If you do not have the required shares in your account on the due date (the third market day following the trade day), CDP will buy-in shares on the market to satisfy the delivery obligation.If the buying-in is completed by SGX at the end of Trade Date +3, no penalty will be imposed. However, if the buying-in by SGX is unsuccessful on Trade Date +3, SGX will continue on Trade Date +4 and Trade Date +5. A penalty, of the higher of S$1000 or 5% of the value of the failed trade not bought in will be imposed.SGX imposes a processing fee of S$75 + GST for each failed contract and charges a brokerage fee for buying -in contract at 0.75% + GST of contract value.For further information or clarification, please contact your trading representative.

 

10. Will POEMS be able to check whether I have the sufficient shares in CDP before I submit a sell order?

No. CDP (and not PSPL) or CPF agent bank hold the record of client’s shareholdings for counters traded on SGX-ST.  PSPL do not have access to such records, as trades may be done by clients through any Trading Members of SGX-ST.

 

11. How can I check whether I have the sufficient shareholdings in my CDP account or CPF agent bank account?

We would like to advise clients to refer to their latest CDP account statement or CPF agent bank account to confirm actual share holdings before placing any sell orders to avoid potential short-selling. We also strongly encourage clients to apply for an online CDP access pin at www.cdp.com.sg or check with their CPF agent bank so that they can access their shareholding statements.

 

12. Can I trade Contra with POEMS?
Yes, you may trade Contra by indicating the Contra function on the SELL order placement screen.By indicating Contra, it will nett off and re-instate your buy/sell limit when you are selling the share that you have bought within the Contra period. Otherwise if no Contra is specified, the nett off and release of buy/sell limit will only be carried out on the next day.Take note that Contra option is not available for CPF and foreign trades. The Contra period is defined as the period from the day (T) you bought the stock and the third market day following that day (T+3).

 

13. Is odd lot trading available over the Internet?
Trading of odd lot is available over the Internet under Unit Share. You can also call up your POEMS Dealer to execute an odd lot order.

 

14. What is the minimum bid size for trading?
The minimum bid sizes as stipulated by SGX for trading shares are:

Share Price (S$) Minimum Per Bid Size
Below $0.20 $0.001
$0.20 to $1.995 $0.005
$2.00 and above $0.01

All orders placed through the POEMS trading system and Telebroker will be processed if their prices are within 20 bids from the last done price. Orders exceeding the 20 bids will be rejected.

Share Price (S$) Minimum Per Bid Size Per Bid Size Bid Spread
Exchange Traded Funds All 0.01 or 0.001 as determined by SGX-ST* +/- 30

 

 

15. What is ‘Amalgamate’?
The auto-amalgamate feature, enables you to combine your orders based on your average traded price. This will allow you to save on your brokerages.Conditions for auto-amalgamate:

  1. The trades must be done on the same trading day.
  2. The trades must be of the same stock.
  3. The trades must be of the same action.
    (A buy action can be amalgamated with another buy action regardless of the trading mode)
  4. The trade is done through the same account.
  5. The payment mode must be the same. (cash or CPF or contra)
  6. The settlement currency must be the same. (USD or SGD or HKD or AUD or MYR or JPY)

 

 

16. Why is my order invalid?
When orders are being rejected, the order status will show “Invalid Order”, followed by a message explaining the reason for rejection.Here are a few reasons for rejection:
– Exceed Limit
exceeded the trading limit. Check with dealers for available trading limit
– Exceed 20 bids
the price you entered exceeds the stipulated SGX 20 bids limit
– If the stock counter has been suspended for trading

 

17. What is pre-open and pre-close routines?
The Pre-Open Routine is a 30-minute session before regular trading starts at 0900 hrs. It comprises of the Pre-Open period and the Non-Cancel Period.During the Pre-Open Period (0830 – 0859 hrs), buy and sell orders can be entered, amended or withdrawn. However they will not be matched and executed during this period.The Non-cancel period can start any time between 0858 hrs to 0859 hrs, during which input, amendment and withdrawal of orders are not permitted. Orders that can be matched and executed at a single computed price, which will be the same as or better than the price at which the orders are entered. This computed price shall be the opening price for the day. Unmatched orders will be carried forward into the regular trading session.

 

18. What are Random endings to the Pre-Open & Pre-Close phases of the Opening & Closing Routine?
SGX has introduced random endings to the Pre-Open and Pre-Close phases of the Opening and Closing Routines in order to mitigate risks of pre-opening and pre-closing price manipulation. This means that the market will close at any time within a specified interval rather than at a designated time.(a) Pre-Open and Opening RoutinesPre-Open routine will continue to start at 0830 hrs but will end randomly between 0858 hrs to 0859 hrs, i.e. Non-Cancel period can start any time between 0858 hrs to 0859 hrs. The market will continue to open at 0900 hrs.(b) Pre-Close and Closing Routines
Pre-Close routine will continue to start at 1700 hrs but will end randomly between 1704 hrs and 1705 hrs for a full trading day, i.e. Non-Cancel period can start any time between 1704 hrs to 1705 hrs.The market will continue to close at 1706 hrs.Note : For half trading day, Pre-Close routine will end randomly between 1234 hrs and 1235 hrs, i.e. Non-Cancel period can start any time between 1234 hrs and 1235 hrs.To view our list of seminars, kindly go to hereBeware: Selling without shares in CDP (Naked short) carry an offence of minimum $1000 or 5% of short value – new regulation Sept2008.

 

19. Is there a trading limit?
Yes. The trading limit varies between different individuals. This is in accordance to the credit assessment done based on your information provided. You may check your trading limit with your respective remisier / dealer.

 

20. How can I increase my trading limit?
You can request for an increase in your trading limit by calling your Dealer. They will require you to provide them with a copy of the relevant documents for assessment. Documents that are helpful for assessment purposes include:

  • Latest CDP monthly or quarterly statements.
  • Latest bank account statements.
  • Latest fixed deposit statements.

 

 

21. How will I be informed of my new trading limit?
You may check with your dealers on the trading limit.

 

22. What is my order type that I am submitting into the POEMS trading platform?
All orders submitted into POEMS trading platform are considered “Limit Day” orders.A “Limit” order is an order whereby you indicate the price that you want to buy or sell a stock. If your price is not met, it will not be executed and placed in the queue. However, your order can be filled at a better price than the limit price that you indicate.A “Day” order is a buy or sell order, which if cannot be executed fully or immediately, will be placed in the queue once being submitted. It will automatically expire if it is not executed during that trading session.Note that your orders might be partially filled.

 

23. What is a fractional share?
A fractional share means quantity that is less than one unit. It usually comes about from corporate actions such as reverse and forward stock split, bonus issue etc which yield fractional shares when the old share quantity is not divisible perfectly (i.e. not in whole number) by the stated ratio.

 

24. What will happen to the fractional shares acquired from corporate actions?
Fractional shares will be nullified if the Company does not offer cash in lieu (“CIL”) or additional share.If CIL is applicable, PSPL adopts the best practices of rounding down methodology for all affected accounts to next whole number. Sum of the fractional shares will be liquidated as soon as practicable and credit the sale proceeds less of processing fee to the affected accounts held in our omnibus Clients’ account, if any.

 

25. Is there any charge for the cash in lieu and sales proceeds due from fractional shares?
Yes, a flat processing fee of S$10.00 (before GST) per account will be levied

 

26. What is a “force key”?
A force key is a feature that enables you to submit a price at any stipulated bid size level, including those exceeding the range of 20 bids.

 

27. How many force keys can I use?
Depending on the number of rewards points you have accumulated, the following apply:

Rewards Points Entitlements
0 – 100 No force key
101 – 1000 25 force keys per month*
1001 onwards 50 force keys per month**

For each force key entered, there will be a deduction of 20 reward points.
*You need to have a balance of at least 101 rewards points so you can use up to 25 force keys.
**You need to have a balance of at least 1,001 rewards points so you can use up to 50 force keys

 

28. What is the force key range for order $0.500 and above?
Depending on your order action, bid range is different between buy order and sell order.For buy order, the bid range is as follow:

Price (Buy Only) Min buying price allowed Max buying price allowed
Equal or more than 50 cents last done – 20 % last done + 10 %

Example:
Counter price: $1.540
Minimum buying price allowed: $1.24 ($1.54 – 0.2 x $1.54)
Maximum buying price allowed: $1.69 ($1.54 + 0.1 x $1.54)

If you need to submit order that is outside the buy order bid range, kindly please contact your trading representative.

For sell order, the bid range is as follow:

Price (Sell Only) Min selling price allowed Max selling price allowed
Equal or more than 50 cents last done -10 % last done + 20 %

Example:
Counter price: $5.400
Minimum selling price allowed: $4.86 ($5.400 – 1 x $5.400)
Maximum selling price allowed: $6.48 ($5.400 + 0.2 x $5.400)

If you need to submit order that is outside the sell order bid range, kindly please contact your trading representative.

 

29. Can I use force key for order below $0.500?
No. Force key feature is disabled for order below $0.500.

Settlement

 

1. When are the shares bought due for delivery?

Please refer to the settlement for the relevant financial market.
2. When does payment have to be made for shares bought?
Please refer to the settlement for the relevant financial market.

3. What happens if I fail to pay or contra the purchase by due date?
If you fail to pay or contra (i.e. sell) your purchase by due date, your purchase may be forced sold by the company at its discretion without notice to you. Phillip Securities has the discretion as to the price, volume put up for force sell at any time. Phillip Securities is not liable to you for any loss or damage arising out of the exercise of its discretion; and the company may recover from you the losses and expenses incurred in the force sell. Client(s) who are subject to force-selling by Phillip Securities may be suspended from trading for a period as determined by Phillip Securities.For more details on purchase due date, kindly refer to the settlement for the relevant financial market.

4. How can I settle my trades?
You have the options of making payments through your bank’s ATMs via Electronic Payment for Shares (EPS) or GIRO if you have applied for it. You can also send us a cheque, or make payment by cash at our main office’s (Raffles City Tower) cashier. Nets and credit card payments will not be accepted. Please take note that payments for trades cannot be made at any of the branches.Alternatively, if you have applied for your bank’s Internet Banking service, you may make payments via the Bill Payment function.It takes about 2 working days for us to receive your payment through this mode of settlement.The consumer/bill reference code required for Bill Payment through the various participating banks are as follows:DBS*                                : 20<TR Code><Last 6 digits of Trading A/C No.>OCBC*                             : 20<TR Code><Last 6 digits of Trading A/C No.>UOB                                 : 20<Full 7 digits Trading A/C No.>Standard Chartered Bank   : <Full 7 digits of Trading A/C No.>MayBank                          : <Full 7 digits of Trading A/C No.>*Please note that Citibank bill payment may take 5-7 working days for us to receive your payment.
*TR Code stands for Trading Representative Code. If TR code has three letters (Eg. XMT), please use the two-letter code “TT” instead.

 

 

5. Can I make partial payment for my shares bought?
No. It is PSPL policy to require the client to make full payment on or by the Due date (“D Date”) for purchase of securities or contract(s). Client is not permitted to undertake partial pick-up on the day of force-selling for due unsettled contracts.
6. How do I apply for EPS Linkage service to link up my EPS account with POEMS account?
To apply for EPS linkage, please mail in a copy of the Application Form for EPS (Electronic Payment for Shares) to:Phillip Securities Pte Ltd
250 North Bridge Road
#06-00 Raffles City Tower
Singapore 179101
Do note that EPS linkage activation takes 3-4 weeks to be effected. In the meantime, you can continue to do your trading but please make payment using cheque or internet bill payment.

7. Which bank account can I use for the EPS Linkage?
You can use a bank account from the following participating banks for the EPS Linkage – DBS, POSB, UOB, OCBC, Citibank.

8. Can I link more than one bank account to my POEMS account?
No, you can only link one bank account to your POEMS account at any one time.

9. How do I make payment via EPS after the linkage is activated?
After the EPS linkage is activated, you may make payment at any of the bank’s Automated Teller Machine (ATM) or using the bank’s internet banking system.

10. What is the cut-off time for making EPS fund transfers?
The daily cut-off time for making EPS fund transfers is 9pm.For DBS, POSB, UOB and OCBC account holders, the arrangement is straight-forward. If the EPS fund transfer is made before 9pm, PSPL will receive the funds the next work day.For Citibank account holders, if the EPS fund transfer is made before 9pm from Monday to Saturday, PSPL will receive the funds the next work day. If the EPS fund transfer is made after 9pm on a Saturday, or anytime on a Sunday, or anytime on a Public Holiday, PSPL will receive the funds two work days later.Example 1 (For Citibank EPS linkage)
EPS fund transfer made before 9pm on Saturday, PSPL will receive the funds one work day later (Monday).Example 2 (For Citibank EPS linkage)
EPS fund transfer made after 9pm on Saturday or EPS fund transfer made anytime on Sunday, PSPL will receive the funds 2 work days later (Tuesday).Example 3 (For Citibank EPS linkage)
EPS fund transfer made anytime on a Public Holiday, PSPL will receive the funds two work days later

11. When must I make payment for contra-loss?
Contra losses must be settled WITHIN 7 calendar days (or 1 week) from the statement date.

12. Can my contra-profits of Stock A be used to net-off losses from Stock B?
Yes, contra-profits will nett-off any outstanding losses.

13. What is the settlement currency for purchases of non-S$ denominated stocks?
All settlement will be in S$ unless standing instructions have been given to your dealers prior to or on the date of transaction before 5.00pm.

14. What is the conversion rate for non-S$ denominated trades?
At a prevailing rate of exchange determined by PSPL.

15. Can the settlement still be in S$ if I have opt to settle in the traded currency earlier?
Yes, you may still make payment in S$ if you have opt to settle in the traded currency earlier. However the conversion rate will be based on the day of payment.

16. Can I use GIRO for payment?
Yes, you may use GIRO for payment if you have either a POSB or DBS bank account. Sign up for GIRO and receive your share payment a day earlier than the fastest method. As long as your bank account has enough funds to pay for the shares, the system will automatically deduct the funds to be used to pay for the shares on due date plus 2.

17. Currency Conversion for client with Multi Currency Facility
Multi-currency ledger facility is a free service which allows clients to place SGD, USD, HKD, JPY, MYR, GBP & AUD into the trading account. Clients can use the funds to pay for their trades.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
Auto currency conversion will be performed to offset the debit balances in any of the ledgers ofPhillip Cash Management Account (PCMA) and Investment Custodian account which ran into deficit arising from the following transactions:1. Withdrawal of money;
2. Subscription of rights issue; and/or
3. Fees and charges (e.g. Custody fees, Quarterly maintenance charges, etc)The currency conversion will be done based on the following order:

In the following order Ledger currency
1st SGD
2nd USD
3rd HKD
4th JPY
5th AUD
6th GBP
7th MYR

The auto currency conversion feature is not applicable to the following transaction types:

1. Settlement of purchase contracts.
2. Settlement of contra losses.
3. Withdrawals and/or fees and charges prior to 6th April 2010.
For such transactions, client will need to login to POEMS > Stocks > Acct Mgmt > Online Forms > Currency conversion to submit the currency conversion accordingly.

Customers are also reminded that auto currency conversion does not apply to Cash trading, Investment Margin or Securities Financing account.

 

18. How GIRO works?

Join GIRO as it is the easy and convenient way to pay your bill. With GIRO, you will be able to receive sales proceeds a day earlier compared to other means of payment
.

To apply, simply fill in the GIRO application form and mail it back to us at:
250 North Bridge Road #06-00 Raffles City Tower Singapore (179101)

 

a. How can I opt for this service?
You can choose to pay your bill through GIRO if you have a savings or current account with DBS or POSBank.Fill in the GIRO application form to authorise the link between your trading account with us and your bank account.

b.Can I have both EPS and GIRO? No, you can only opt for one service.

If you are currently under the Electronic Payment for Shares (EPS) system and wish to switch to GIRO, you must first terminate your EPS linkage. Click here for the EPS closure form and the GIRO application form. After completing the form, please send it back to the above-mentioned address.

c.When will the GIRO service take effect? Approximately three to four weeks after you have submitted your application and upon our issuance of a confirmation letter to you.

d.When will the bank deduct the account for my purchase? The bank will deduct the funds on the 2nd day after due date (D+2). However, please ensure your bank account has sufficient funds by D+1.

Insufficient funds on deduction day will result in your shares being force-sold on D+2 afternoon.

e.When will I receive my sales proceeds? The bank will credit the funds on the next day after due date (D+1).

f.Can I do contra? Yes, you may do contra within T+3 days.

g.When will contra loss/gain be settled under GIRO? The bank will deduct/credit the funds on the 2nd market day after sales date, i.e. T+2 days.

h.Can I cancel my GIRO arrangement? Yes, simply fill in the termination form. Phillip Securities Pte Ltd reserves the right to cancel the arrangement.

 

GIRO for Unit Trusts Is the GIRO arrangement applicable to both Shares and Unit Trusts? Yes.

ii.When will the funds be deducted for lump-sum investments & under the Assets Saving Plan (ASAP)? Deduction for lump-sum unit trusts investment is on T+1, while deduction for ASAP is on T+1 day.

iii.Can I use EPS for Shares and GIRO for Unit Trusts? Yes, you can do so by filling up 2 separate forms.

*However, please note that in this case, the GIRO arrangement is only applicable to ASAP. Payment for lump-sum unit trusts investment can be initiated through EPS by T+1, 9pm.

iv.Will the proceeds from sale of unit trusts be credited to my bank if I use GIRO? No, all proceeds from sale of unit trusts will still be settled in cheque.