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Settlement
 
What is market day?
 
 A day in which Bursa Malaysia is open for trading.
There are frequent references to "T". What is "T"?
 
 "T" denotes the day on which a buy or sell transaction is executed. "T+1" denotes 1 market day following T. "T+2" denotes 2 market days following and so on.
What are the regulations with regards to settlement time?
 
 Purchase Settlement
A buyer will have his CDS account credited the securities purchased by T+3. However, if the buyer fails to pay by 12.30pm on T+3, the Company has the right to 'sell-out' the shares to cover his outlay on T+4. Any holidays prescribed by Bursa Malaysia, Saturday and Sunday will not be counted as part of the "T+3" settlement period.
 
 Sale Settlement
A seller's CDS account will be debited the securities sold at the close of business on T+2. Therefore, seller must ensure that his CDS account has sufficient securities to meet the sale settlement obligation at the close of T+2 failing which the sale trade will be fail and buying-in will be instituted on T+3. Any buying-in losses will be borne by the seller.
When will I receive my contract notes?
 
 Generated contract notes will be sent to your address maintained with us by mail on the "T+1" day.
How do I pay for the shares that I bought?
 
 You can make payment at any one of our branch offices or to our bank accounts maintained with our panel of banks. Kindly contact your Dealer's Representative or our offices for particulars of our bank accounts.
 
 Payment through banks:
All deposit cheques must be crossed and made payable to Affin Hwang Investment Bank Berhad. Please indicate your Client Code and Contact Number on your deposit slip and fax/deliver the same to your Dealer's Representatives.
 
 Cheque or cash payment:
You may also make payment using cheque or cash at any one of our branch offices. (Please note that cheques will only be given value upon clearance of cheque. Outstation cheques will incur bank charges.) Upon settlement, an official receipt will be issued.
 
 Online Bill Payment:
If you are a client of Maybank and have access to their Internet online banking service (Maybank2u.com.my), you may use your Maybank account to make payment to Affin Hwang Investment Bank Berhad. Once logged in, look for 'Affin Hwang Investment Bank Berhad' from the list of payee corporations under "Online Bill Payment" in Maybank2u.com.my
What happens if I miss to pay for the shares purchased by T+3 day?
 
 In accordance with the Rules of Bursa Malaysia Securities Berhad, if payment is not received by the due date, the Company has the right to institute a selling out of the outstanding purchase without any notification to client.
Can I choose to settle part and not all my due contracts?
 
 Yes, provided the payment is for full marketable lot/(s). For example, if you purchased 6 lots, you can make part payment for 1,2,3,4 or 5 lot(s) but not in fractions.
What transaction costs will I have to pay for online trades?
 
 There are no additional charges or costs for online trades. You will however be required to pay the normal charges such as brokerage, clearing fees and stamp duty, which are also levied on non-online trades.
 
 The standard trading costs are as follows:
(i) The standard brokerage fee is 0.70% for trades value RM100,000 and below. And 0.5% for trades value above RM100,000 subject to a minimum fee of RM28 for Internet trade and RM40 for non-Internet trade.
(ii) Clearing fee is 0.03% of transaction value subject to the maximum of RM1,000.
(iii) Stamp duty is RM1 for every RM1,000 contract value or fraction of the value of the contract, subject to the maximum of RM200.
When will I receive my sale proceeds?
 
 All sale proceeds arising from selling 'ready basis' securities will be payable to your name and ready for collection by 12.30pm on the third market day.
Can I authorise a third party to collect my sales cheque?
 
 Yes. You will have to sign a Standing Instruction For Collection Of Cheque.
Can my sale proceeds be credited electronically into my bank account?
 
 Yes. Provided you have a bank account with Maybank and have signed an Authorisation For Payment By Direct Credit Form.
Can I contra my unsettled purchase positions?
 
 Yes. Any outstanding purchases can be contra off by subsequent sales of the same counter by T+3.
When do I get paid for my contra gain?
 
 All contra gain cheques will be paid to you after deducting contra loss(es), outstanding interests and/or any other debit charges, if any.
When do I need to pay for contra losses?
 
 You are required to settle all contra losses within 3 market days from the day the outstanding purchase contract is sold, failing which interest will be charged on the outstanding contra losses.
Can I use my contra gains to offset my due contracts?
 
 Yes. Your contra gains can be off-set against your due contracts. Please contact your Dealer's Representative for the arrangement.
 
 
 
 
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