notice GENERAL FAQ
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Q1: What is limtan.com.sg? Back to top
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It is an online share trading system specially designed to give investors total control over their investment decisions. Investors can place their orders and make account enquiries at their own convenience, at any time and from any location. Investors can access the same limtan.com.sg Online Trading account using either the Internet or through the Voice Activated Stock Trading (V.A.S.T.) system.



Q2: What is Voice Activated Stock Trading (V.A.S.T) system? Back to top
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Voice Activated Stock Trading (V.A.S.T.) system is an interactive voice response system that allows investors to trade shares and get stock quotes using any telephone, be it a mobile phone, a fixed line phone in the office or at home and even using a public phone. Simply call 6557 0088 and you will have the latest stock information at an instant. In short, you would be speaking to a machine that will prompt you whether you would like to place an order, check stock quotes or get market information. Lim & Tan’s V.A.S.T. system is available throughout the day and any order that is placed through our V.A.S.T. system can be viewed or changed through the Internet, and vice versa. For more information on V.A.S.T., please read our V.A.S.T User Guide.


Q3: What are the brokerage charges? Back to top
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Online Trading Rates
Contract Size Rates* Effective Rates* (Less 5% Mileage)
 Minimum $25 $23.75
Up to $50,000 0.28% 0.266%
> $50,000 - $100,000 0.22% 0.209%
> $100,000 0.18% 0.171%
* Subject to Changes

 Advisory Trading Rates
Contract Size   Rates*
 Minimum S$40
Up to $50,000 0.50%
> $50,000 - $100,000 0.40%
> $100,000 0.25%

* Subject to Changes

Shares traded on SGX under Clob International
  
Contract Size
Rates*
Settlement in AUD Settlement in HKD Settlement in USD
Up to AUD50k Up to HKD200k Up to USD25k
0.28%
>AUD50K to AUD100K  >HKD200K to HKD400K >USD25K to USD50K
0.22%
>AUD100K >HKD400K >USD50K
0.18%
Minimum Brokerage

 AUD25 HKD100  USD12.50
 

* Subject to Changes

Additional charges:
SGX Trading Fees (Contract Value x 0.0075%)
CDP Clearing Fees (Contract Value x 0.04%)
GST ((Brokerage + Trading Fees + Clearing Fees) x prevailing GST rate)


Q4: What are the securities clearing fee? Back to top
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Securities Clearing Fee

The Securities Clearing Fee is at 0.04% of the contract value subject to a maximum of S$600. Fee structure is applicable to all trades (except futures, options and structured warrants) done on / after 12 February 2010.

For non-S$ contracts, the equivalent maximum clearing fee cap shall be as follows:
Settlement Currency   Clearing Fee* @ 0.04%, subject to a maximum of
Australia Dollar (AUD) AUD 470.00
British Pound (GBP) GBP 265.00
Canadian Dollar (CAD) CAD 455.00
Euro (EUR) EUR 294.00
Hong Kong Dollar (HKD) HKD 3,342.00
United States Dollar (USD) USD 431.00
Japanese Yen (YEN) YEN 38,363.00

* Subject to Changes


Q5: Who can I call if I need help? Back to top
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Our Online Helpdesk (Tel: 6799 8188) is open from 8.30 am to 5.45 pm, Monday to Friday, to answer any questions you may have. Alternatively, you can fax us at 6538 7730 or email us.


Q6: Who can open a limtan.com.sg online trading account? Back to top
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Anyone who is above 21 years old and with no record of delinquency can open a limtan.com.sg online trading account.


Q7:
How will I get my User ID and Password? Back to top
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Password bearing 6 - 12 characters in alphanumeric will be issued by Lim & Tan Securities. For security reasons, please change the Passwords after your first successful login. Your User ID and Password will be posted separately to your mailing address.


Q8:
Will there be interest credited to credit balance in my Trust Account and how do I withdraw the funds from my Trust Account? Back to top
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There will be interest credited on daily closing balance at the prevailing interest rates (Terms & Conditions apply). The maximum monthly administrative fee per account is S$1/-. If the interest earned for the month is less than S$1/-, the administrative fee for that month will be restricted to the lower of, the interest earned or S$1/-.
You may submit your request to your Trading Representative or to the Online Trading Helpdesk if you only have an Online Trading account.
For submission of request to the Online Trading Helpdesk, you may email to online@limtan.com.sg or fax to 6538 7730. You can also send a written instruction to our mailing address, with attention to the Online Trading Helpdesk. Please remember to include your trading account number in your correspondence.


Q9:
What would I have to pay to open a limtan.com.sg online trading account? Back to top
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Opening an online trading account with limtan.com.sg is FREE.


Q10: What are the payment modes available? Back to top
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We accept payment via:

Cash Cash payment can only be made at our Cashier Counter. Only Singapore Dollars are accepted for Cash payment.
Opening hours: 8:30am to 5:45pm (Monday to Friday, excluding Public Holidays)
Cheque Please make cheque payable to 'Lim & Tan Securities Pte Ltd'
EPS For payments to Lim & Tan Securities, you can use Electronic Payment for Shares service (EPS) available at ATMs or through the banks’ Internet Banking website. Payment due to you will be credited directly into your bank account.
Available at: DBS/POSB, OCBC, UOB, Citibank
Download Application Form
GIRO

Outgoing payments and incoming funds are automatically directed to your bank account. Please ensure you have enough funds on the Due Date of the contract.
Available banks: DBS/POSB, OCBC, UOB
Download Application Form

Click here for Frequently Asked Questions (FAQ) on GIRO
Bill Payments Bills Payment service is only for payments and available on the Internet Banking services with selected banks.
Available banks: DBS/POSB, HSBC, Maybank, OCBC, Standard Chartered, UOB



Q11:
Can I use my CPF funds to trade online?
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Yes, you can. However, please note the following important conditions when using CPF funds to invest: -
  1. Sufficient Funds/ Shares
    Ensure that you have sufficient funds in your CPF Investment Account before you trade. If you are not sure of the balance you have for investing in stocks and shares, please check with your CPF custodian bank. Purchases will be revoked if there are insufficient funds in your CPF Investment Account. Your purchases may be "force-sold" and you will be liable for any losses that may arise.

    When selling shares from your CPF Investment Account, please ensure there are sufficient shares in free balance in the account. If there are insufficient shares in your CPF Investment Account, the shortfall in quantity will be revoked and subject to buying-in by the SGX.

  2. Authorization to settle CPF transaction
    From 1 March 2000, investors who transact shares using CPF funds need only give a one-time authorization to their agent banks and the CPF Board for the settlement of transactions. Please remember to provide the CPF Investment Account to your Trading Representative or our Online Trading Helpdesk at 6799 8188 prior to your first CPF trade through the Online Trading account.

    If you have forgotten to do so, the latest time for submitting your CPF Investment Account is by 5.15pm on Trade date. Otherwise, your CPF trade will be revoked and converted to a Cash trade.

  3. Use of CPF funds for Investment
    Investors should use the funds in their CPF Investment Account for investment only. No contra trading is allowed for transactions using CPF funds.

  4. Changes in CPF Investment Account
    Please update us of any changes in your CPF Investment Account. You may inform your Trading Representative or our Online Trading Helpdesk at 6799 8188.


Q12:
Can I use my SRS funds to trade online? Back to top
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Yes, you can. However, please note the following important conditions when using SRS funds to invest: -
  1. Sufficient Funds / Shares
    Ensure that you have sufficient funds in your SRS Account before you trade. If you are not sure of the balance you have for investing in stocks and shares, please check with your SRS Operator bank. Purchases will be revoked if there are insufficient funds in your SRS Account. Your purchases may be "force-sold" and you will be liable for any loses which may arise.

    When selling shares from your SRS Account, please ensure there are sufficient shares in free balance in the account. If there are insufficient shares in your SRS Account, the shortfall in quantity will be revoked and subject to buying-in by the SGX.

  2. Update of SRS Account prior to first SRS trade through Online Trading Account
    Please remember to provide the SRS Account and Operator bank to your Trading Representative or our Online Trading Helpdesk at 6799 8188 prior to your first SRS trade through the Online Trading account.

    If you have forgotten to do so, the latest time for submitting your SRS Account is by 5.15pm on Trade date. Otherwise, your SRS trade will be converted to a Cash trade.

  3. Use of SRS funds for Payment of Share purchase
    Investors should use the funds in their SRS account for investment only. No contra trading is allowed for transactions using SRS funds.

  4. Changes in SRS Account/ Operator
    Please update us of any changes in your SRS Account/ Operator bank. You may inform your Trading Representative or our Online Trading Helpdesk at 6799 8188.
Q13:
What are the new restrictions on the CPF Investment Scheme (CPFIS) from 1 April 2008? Back to top
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With effect from 1 April 2008, you will not be able to invest the first $20,000 in your Ordinary Account and first $20,000 in your Special Account. Please click here to read more.



Q14:
Can I sell shares that I have previously bought elsewhere through limtan.com.sg? Back to top
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Yes, you may so long as the shares are recorded in the free balance of your Securities Account with CDP.



Q15:
What happens when my CPF / SRS trades are revoked by my agent bank? Back to top
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Possible reasons for revocation of CPF / SRS trades to Cash trades
  • exceed the 35% stock limit for CPF
  • have insufficient funds in CPFIS and/or SRS accounts
  • counter is not approved under CPFIS
  • do not have the stockholding in the CPFIS and/or SRS accounts (for sell trades)

Payment for shares which are revoked
  • Please pay us as per a CASH contract by T+3, to avoid any selling out of your shares.
  • Otherwise, please sell the shares as a CASH trade within the contra period.
  • For GIRO clients, payment due will not be automatically deducted from your bank account. Please call our Helpdesk if you would like the revocation to be deducted via GIRO. Please note that this is applicable only for full revocation.

Sale of your shares which have been revoked
Please sell your revoked shares as a CASH trade

Portfolio Management
Trades that have been revoked from CPF to Cash will not be reflected in your portfolio automatically. Please refer to the following instructions to amend your online portfolio manually.

(For full revocation of CPF trade to Cash trade)
1) Please delete the CPF trade from your portfolio management.
2) Select "Add Contracts" and fill in the relevant information, selecting "cash" for payment type.

(For partial revocation of CPF trade to Cash trade)
1) Please delete the CPF trade from your portfolio management.
2) Select "Add Contracts" and add in the 2 contracts of CPF trade and Cash trade separately



Q16: What are the bid sizes? Back to top
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The scale of minimum bids for trading are as follows:

bidsizes



Q17: What are 'Pre-Open' and 'Pre-Close' routines? Back to top
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  • 'Pre-Open' Routine
    It is a 30-minute session before regular trading starts at 0900 hrs. It comprises the 'Pre-Open Period' and the 'Non-Cancel Period'.

    During the 'Pre-Open Period' (0830 to 0859 hrs), buy and sell orders can be entered, amended or withdrawn. They will not be matched and executed during this period. The 'Non-Cancel Period' is between 0859 to 0900 hrs, during which input, amendment and withdrawal of orders are not permitted. Orders that are matched are 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.

  • 'Pre-Close' Routine
    At 1700 hrs(for normal day trading) or 1230 hrs (for half-day trading), all unmatched orders are carried forward to the Pre-close Routine, which runs for 6 minutes and consists of a 'Pre-Close Period' and a 'Non-Cancel Period'.

    Orders can be entered, amended or cancelled during the 'Pre-Close Period' (1700 to 1705 hrs for normal day trading or 1230 to 1235 hrs for half-day trading). During the 'Non-Cancel Period (1705 - 1706hrs for normal day trading or 1235 - 1236 for half-day trading), input, amendment and withdrawal of orders are not permitted. Orders that are matched are executed at a closing price computed for the day, while unmatched orders will become void.


Q18: Are there any trade restrictions? Back to top
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Singtel A, Singtel 2 and any related bonus shares cannot be traded through the online trading system. In addition, the odd-lot and the buy-in markets are also not available.

Please contact your Trading Representatives or the Online Helpdesk at 6799 8188 should you want to trade the above.

From time to time, Lim & Tan Securities may also impose trading restrictions of specific counters or ground of shares without notice. Please refer to the "Notices" section on the Homepage.


Q19: What is a Unit Share Market? Back to top
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The Unit Share Market, also known as the Odd Lot Market, allows clients to trade counters in quantities less than the standard Board Lot for the counter. The minimum trade amount is 1 share.
Currently, Unit Share Market is only available for SGX listed counters.

Click here for more details.


Q20: What is the Initial Deposit required?
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Waiver of deposit is subject to Management's approval.

Foreigners will need to place a 50% collateral. For instance, a collateral of $1,000 will allow the foreign investor a trading limit of $2,000. Notwithstanding the deposit, the trading limit is still subject to Management’s approval.


Q21: What is short-selling?
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Short-selling happens when:

a. You have a sell position without a corresponding buy position of the same counter and quantity on the same trading day.

b. You do not have the shares of the short-sold position to deliver on the due date of the sell position.

We would like to stress that short-selling is not encouraged.



Q22: What happens when I short-sell?
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Effective Settlement Date: 14 December 2009
If you are unable to cover back the short position on the same trading day, and if you do not have existing shares in the free balance of your CDP account by 12pm on Trade Date +3 (Half-working Day: 8pm, on Trade Date +2), SGX regards the sale transaction as a short-sell and conducts a buying-in at 3pm, Trade Date +3. (Half-working day: 11am, Trade Date +3)

 

Q23: What is the penalty imposed by SGX for failed delivery?
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Effective Settlement Date: 14 December 2009
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.



Q24: What is the buying-in processing fees and the brokerage charged by SGX for failed trades? Back to top
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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.



Q25: How is buying-in conducted by SGX for a short position? Back to top
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Effective Settlement Date: 14 December 2009
SGX conducts buying-in on each market day, in the Buying-in Market, from 3pm - 5pm (Half-working day: 11am). SGX publishes on its website daily between 2pm - 2.30pm (Half-working day: 10.30am), a list of shares to be bought-in.

The buying-in bid price, as determined by CDP, will be 2 minimum bids above the highest of the closing price of the previous day, the reference transacted price or the reference bid price. The reference transacted price and the reference bid price will be any of the last transacted prices and bid prices in the 1 hour preceding the commencement of buying-in, as determined by CDP.

If the securities are not obtained, CDP shall have absolute discretion to raise the price bid by 2 minimum bids, as determined by SGX, from time to time throughout the Settlement Day until the securities are bought or delivered to CDP.

If the securities cannot be obtained during the Settlement Day, the buying-in shall continue on the following and successive Market Days at 2 minimum bids, as determined by SGX-ST, higher than the buying-in bid price at the close of the Settlement Day or previous Market Day, and thereafter CDP shall have absolute discretion to raise the buying-in bid price by 2 minimum bids, as determined by SGX, from time to time throughout the Market Day until the securities are bought or delivered to the CDP.

SGX will publish on its website the list of shares it had bought-in, the volume and dollar value at 8.30am the following market day.




Q26: What happens if SGX is unable to complete the buying-in and requires Lim & Tan to procure the shares? Back to top
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In the event that CDP requires Lim & Tan to procure the requisite securities arising from its unsuccessful buying-in by Trade Date +7 or by the stipulated procurement period (whichever is earlier), a penalty of $5,000 for each day (after the procurement period) a sell contract is overdue, shall be borne by the client.