FAQ

US Intra-Day Active Trader Program/US ATP Short Account FAQ

Trading in US Stocks - What you should know?
  • 01. WHAT IS INTRA-DAY ACTIVE TRADER PROGRAM (ATP)?

    Intra-Day Active Traders Program allow client to trade at a special rate of 0.07% (up to trade value of US$30,000) with a minimum and maximum brokerage of USD$10 and USD$20 respectively.

  • 02. HOW DO I QUALIFY FOR THE INTRA-DAY ACTIVE TRADER PROGRAM RATE?

    To qualify, client has to transact a minimum of 2 U.S. Online intra-day contra trades by buying and selling the same counter within the same trading day. For example, if 100 shares of Counter A is bought on Day 1, and 60 shares are sold on Day 1, only these 60 shares qualify for ATP rate. These will be counted as 1 U.S. Online intra-day contra trades for the purpose of determining the minimum 2 U.S. Online intra-day contra trades.

    ATP special brokerage is applicable to trade value (price x quantity) of up to US$30,000. Trade value above US$30,000 will be charged the usual US brokerage rate of 0.3%.

  • 03. HOW MUCH WILL I PAY IF MY INTRA-DAY ATP CONTRACT BROKERAGE IS BELOW USD$10?

    If your brokerage under ATP rate is under USD$10, you will pay a minimum of USD$10 for the intra-day contract.

  • 04. WHAT IS THE INTRA-DAY ATP US MARKETS BROKERAGE RATE?

    Intra-Day Trade Value Intra-Day ATP Brokerage
    Price x Quantity Minimum US$10
    US$30,000 Capped at US$20
    US$30,001 > 0.3%
    Other Charges US$
    GST Brokerage x prevailing GST % rate
    Sales Tax (for SELL order only) 0.00221% (w.e.f. 13 February 2020) x Total Value (Total Value = Price x Quantity)
    US Trading Activity Fee (for SELL order only) US$0.00012 per share

  • 05. What are the standard non-intraday US markets brokerage rates?

    Online Brokerage Rates
    Contract Size Rates* Effective Rates* (Less 5% Mileage)
    Commission 0.3% per trade 0.285%
    Minimum Commission US$20 US$19
    Advisory Brokerage Rates
    Contract Size Rates*
    Commission 0.3% per trade
    Minimum Commission US$20
    Other Charges US$
    GST Brokerage x prevailing GST % rate
    Sales Tax (for SELL order only) 0.00221% (w.e.f. 13 February 2020) x Total Value (Total Value = Price x Quantity)
    US Trading Activity Fee (for SELL order only) US$0.00012 per share
    Financial Transaction Tax 0.3% (Buy orders only, applicable for French/Italian ADRs)

    *Subject to Changes

  • 06. ARE US INTRA-DAY TRADES ELIGIBLE TO EARN REWARD POINTS?

    All online trades placed by clients are eligible to earn Reward Points. Clients will be enrolled in a default limtan mileage rewards programme. However, if client chooses to earn LinkPoints, he/she must present a NTUC Linkcard. The qualified Linkcards are Plus!, Plus! Visa, NTUC Plus!, NTUC Plus! Visa and Nebo. (Only applicable to principal cardholder)

    Loyalty reward points earned from US trading will be computed based on the final commission paid for each contract or intra-day contracts.

  • 07. HOW MUCH IS THE SUBSCRIPTION TO US MARKETS LIVE PRICES AND HOW DO I SUBSCRIBE?

    Online Trading clients will automatically1 be entitled free access to US live prices up to end of the following month upon account opening.

    Subsequent US Online contracts will entitle clients to additional 6 months of free access to US live prices based on the last Online contract date.
    E.g. If a US Online contract is done on 1 Jan 2017, client's Online trading account will automatically gain access to US live prices until 1 Jul 2017. Subsequently, if another US Online contract is done on 2 Jan 2017, client's access to free US live prices will be extended to 2 Jul 2017.

    Subscription to Live quotes of NYSE, NASDAQ and NYSE American (formerly AMEX) is also available for a fee. Redemption for live prices are available via our loyalty rewards redemption catalogue using loyalty points or payment by cash.

    1US Live Prices will be activated 2 days after the qualifying US trade.

    Free Live U.S. Market Data will not be available for clients who are considered a Securities Professional.

    According to U.S. markets' definition, you are considered a Securities Professional if you are:
    1. Registered with any state, federal or international securities agency or self-regulatory body;
    2. Engaged as an Investment Advisor;
    "Investment advisor" means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who, for compensation and as part of a regular business, issues or promulgates analyses or reports concerning securities;
    3. Employed by an organization that is exempt from U.S. securities laws that would otherwise require registration; or
    4. A business or commercial entity

    A monthly charge of USD51, subject to prevailing GST rate, is payable should you choose to subscribe to real time U.S. market data. Alternatively, you may access delayed U.S. market data free of charge.

    Kindly note that if you are a Securities Professional, you will not be entitled to any promotions related to free access to real time U.S. market data.

US Active Trader Intraday Short Account (US ATP Short Account)
  • 01. What is a US ATP Intraday Short Account (US ATP Short Account)?

    The US ATP Intraday Short account (US ATP Short) is an Online trading account that allows clients trading flexibility to Short US counters in a falling market at a competitive commission rate.

  • 02. What are the charges involved in trading US ATP Short?

    Online Brokerage Rates
    ATP Commission 0.07%, Minimum US$10, Maximum US$20
    Standard Commission 0.30%, Minimum US$20
    Other Charges US$
    GST Brokerage x prevailing GST % rate
    Sales Tax (for SELL order only) 0.00221% (w.e.f. 13 February 2020) x Total Value (Total Value = Price x Quantity)
    US Trading Activity Fee (for SELL order only) US$0.00012 per share

  • 03. How do I qualify for the US ATP rate?

    To qualify, client has to transact a minimum of 2 U.S. Online intra-day contra trades by short selling and covering back the same counter within the same trading day.

    Example 1
    100 shares of Counter A is sold, and 100 shares are subsequently covered, both buy and sell contracts will qualify for ATP rate and these will be counted as 1 U.S. Online intra-day contra trades for the purpose of determining the minimum 2 U.S. Online intra-day contra trades.

    Example 2
    100 shares of Counter A is sold, and 60 shares are covered. The balance 40 shares are subsequently covered. All 3 trades will qualify for ATP rates and these will be counted as 1 U.S. Online intra-day contra trades for the purpose of determining the minimum 2 U.S. Online intra-day contra trades.

    Example 3
    100 shares of Counter A is sold, and 60 shares are covered. The balance 40 shares are subsequently forced buy-in by Lim & Tan Securities Pte Ltd ["LTS"]. Only 60 shares that are shorted and covered will qualify for ATP rates. The 40 shares that are shorted and forced buy-in will be charged 0.3% standard commission. The 60 shares shorted and covered will be counted as 1 U.S. Online intra-day contra trades for the purpose of determining the minimum 2 U.S. Online intra-day contra trades.

    ATP special brokerage is applicable to trade value (price x quantity) of up to US$30,000. Trade value above US$30,000 will be charged the usual US brokerage rate of 0.3%.

    Please note that short positions that are not closed within the same trading day will be subject to forced buy-in with both legs subject to the standard US 0.3% commissions and fees.

  • 04. How can I start trading US ATP Short?

    Applicant must already have an existing US trading account with Lim & Tan Securities before opening an US ATP Intraday Short trading account to start trading.

    You may contact your Trading Representative or visit us at our office at 16 Collyer Quay, #15-00, Income at Raffles, Singapore 049318.

  • 05. What are the US Intra-day Short trading hours for client?

    Please note that the trading hours for US ATP Short will end 10 minutes earlier than actual NYSE/NASDAQ/NYSE American (formerly AMEX) trading hours.

    US Stock Market: NYSE, NASDAQ and NYSE American (formerly AMEX)
    Summer Daylight Saving*
    (Singapore Time)
    Winter**
    (Singapore Time)
    Full-Day Trading
    NYSE/NASDAQ/NYSE American
    (formerly AMEX) Trading Hours for US ATP Short
    9.30pm - 3.49am (Summer)
    (3.50am being the Designated time, i.e. 10 minutes before market close at 4.00am)
    10.30pm - 4.49am (Winter)
    (4.50am being the Designated time, i.e. 10 minutes before market close at 5.00am)
    NYSE/NASDAQ/NYSE American
    (formerly AMEX) Trading Hours for US ATP Short
    3.50am - 4.00am (Summer)
    (Non-order placing period)
    4.50am - 5.00am (Winter)
    (Non-order placing period)
    Half-Day Trading
    NYSE/NASDAQ/NYSE American
    (formerly AMEX) Trading Hours for US ATP Short
    9.30pm - 12.49am (Summer)
    (12.50am being the Designated time, i.e. 10 minutes before market close at 1.00am)
    10.30pm - 1.49am (Winter)
    (1.50am being the Designated time, i.e. 10 minutes before market close at 2.00am)
    NYSE/NASDAQ/NYSE American
    (formerly AMEX) Trading Hours for US ATP Short
    12.50am - 1.00am (Summer)
    (Non-order placing period)
    1.50am - 2.00am (Winter)
    (Non-order placing period)

    * Daylight Savings effective from 2nd Sunday of March to 1st Sunday of November
    ** Effective from the 1st Sunday of November to the 2nd Sunday of March

    We do not participate in the US pre-open and pre-close trading sessions.

    Note:
    When a holiday falls on a Saturday the NYSE, NASDAQ and NYSE American (formerly AMEX) will not operate on the preceding Friday.
    When a holiday falls on a Sunday the NYSE, NASDAQ and NYSE American (formerly AMEX) will not operate on the succeeding Monday.

  • 06. What happens when I do not close off the short position by end of US Intra-day Short trading hours?

    LTS will take over the covering of open Short positions from the designated time. If, for whatever reason/s the closure is not fulfilled on the same day, LTS reserves the right to continue the force-closure of these positions on T+1 or any other date at LTS's discretion.

  • 07. What are the counters available for trading under US ATP Short?

    The Shorting of Stock is dependent on our US Broker's ability to locate stock. Certain stocks may face delays in order placing as they are manually processed. All orders placed may show "PQ" until the stock locate is confirmed and clients would not be able to amend or withdraw their orders until a confirmation is received from our US Broker. Should a stock locate be unsuccessful, the order will be updated subsequently in the Order Book as Rejected.

    E denotes counters for which the order submission and stock locate is expected to only face minimal delays under normal trading conditions. Counters without E will require additional time for our US counterpart to manually locate stock and manually update the order. Clients are advised to trade with caution.

  • 08. Can I place a Buy order without having placed any short orders?

    No. You can only place a Buy order to cover an existing short sold position up to the quantity filled.

  • 09. How do I place US ATP Short orders via limtan.com.sg?

    To place Sell order (Short Sell):
    1. Select "US ATP Short" under Account
    2. Select "Sell" under Action
    3. Key in Number of shares, Price and Password
    4. Select "Submit" to place the order

    To place Buy order (Cover):
    1. Select "US ATP Short" under Account
    2. Select "Buy" under Action
    3. Key in Number of shares, Price and Password
    4. Select "Submit" to place the order

  • 10. How do I place US ATP Short Advanced orders via limtan.com.sg?

    To place Buy order (Cover):
    1. Select "Advanced"
    2. Select "US ATP Short" under Account
    3. Select Order Type: "Limit" or "Market"
    4. Key in Number of shares and Price
    5. Select Fill Type: "ANY" or "AON" (All or None)
    6. Select Settlement currency for counters traded in foreign currency
    7. Check box to place order by Stop Price
    8. Key in Stop Price (Your order above will be submitted upon meeting this price condition)
    9. Insert your Online trading account password
    10. Select "Submit" to place the order

    Please note that Advanced order is available for Buy order (Cover) only. To place a Sell order (Short Sell), please refer to Q9 above.

  • 11. How do I place US ATP Short orders via limtan Mobile Channels?

    To place US ATP Short orders:
    1. Select "US ATP Short" under Account
    2. Select "Sell" (Short Sell) or "Buy" (Cover) under Action
    3. Key in Price, Quantity and Password
    4. Select "Submit" to place the order

    iPhone Mobile App

    iPad Mobile App

    Android Mobile App

  • 12. How do I place US ATP Short Advanced orders via limtan Mobile Channels?

    To place Buy order (Cover):
    1. Select "Stop Loss"
    2. Select "US ATP Short" under Account
    3. Key in Stop Price (Your order below will be submitted upon meeting this price condition)
    4. Key in Price and Quantity
    5. Select Order Type: "Limit" or "Market"
    6. Select Settlement currency for counters traded in foreign currency
    7. Select Fill Type: "ANY" or "AON" (All or None)
    8. Insert your Online trading account password
    9. Select "Submit" to place the order

    iPhone Mobile App

    iPad Mobile App

    Android Mobile App

    Please note that Advanced order is available for Buy order (Cover) only. To place a Sell order (Short Sell), please refer to Q11 above.

  • 13. Can I sell my US shares bought through Online Trading account?

    No, shares bought through Online Trading account cannot be sold through US ATP Intraday Short account.

Trust Account
  • 01. Will there be interest credited to credit balance in my Trust Account?

    Interest (if any) will be computed and credited to trust account on a daily basis. Where applicable, we will pay interest at our published interest rate, calculated on daily balances. For avoidance of doubt, the published interest rate is determined by us, and subject to change from time to time at our sole and absolute discretion.

    The current published USD interest rate is 0.10% p.a.