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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » My Sold Note today

My Sold Note today

+4
chamith
FXX
Gaja
greedy
8 posters

Go down  Message [Page 1 of 1]

1My Sold Note today Empty My Sold Note today Fri Feb 24, 2012 8:52 pm

greedy

greedy
Manager - Equity Analytics
Manager - Equity Analytics

Today I received a sold note via email... the details looks like this...

Gross receipts 7.00
CDS Fees (10.00)
Brokerage Fees (20.00)
Net (23.00)

Obviously I had put a bigger order but filled only 3 shares!!!. From the above after selling shares, I have to pay another Rs23.00 to the broker SmileSmileSmile

Any of you getting similar sold notes?

2My Sold Note today Empty Re: My Sold Note today Fri Feb 24, 2012 9:00 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

it give some hints as to why Brokers also love the new systems! Earlier i think its only 0.64% and now on some cases like this

3My Sold Note today Empty Re: My Sold Note today Fri Feb 24, 2012 9:05 pm

FXX

FXX
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

RATE
100.00

QUANTITY
30

COMMERCIAL BANK OF CEYLON (COMB-N-0000)

GROSS
AMOUNT(Rs)
3,000.00

CDS FESS(Rs)
@0.0240%
5.00

CSE FESS(Rs)
@0.0840%
5.00

SEC CESS(Rs)
@0.0720%
2.16

STL
@0.3000%
9.00

BROKERAGE
@0.6400%
19.20

NET AMOUNT
3,037.88

4My Sold Note today Empty Re: My Sold Note today Fri Feb 24, 2012 9:08 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

http://www.cse.lk/cmt/upload_cse_announcements/8471329994635_.pdf

5My Sold Note today Empty Re: My Sold Note today Fri Feb 24, 2012 9:13 pm

greedy

greedy
Manager - Equity Analytics
Manager - Equity Analytics

My point is that I did not intend to sell 2 or 3 shares I had put a bigger sell order. Since the filled qty is smaller, I had to pay broker fees over and above the sale proceeds.

I don't mind paying it but technically it is wrong. Hope they correct this soon!!

6My Sold Note today Empty Re: My Sold Note today Fri Feb 24, 2012 9:15 pm

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

greedy wrote:My point is that I did not intend to sell 2 or 3 shares I had put a bigger sell order. Since the filled qty is smaller, I had to pay broker fees over and above the sale proceeds.

I don't mind paying it but technically it is wrong. Hope they correct this soon!!

agreed with you! Hope they will incorporate the minimum quantity you want to buy or sell

7My Sold Note today Empty Re: My Sold Note today Fri Feb 24, 2012 9:32 pm

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

greedy wrote:Today I received a sold note via email... the details looks like this...

Gross receipts 7.00
CDS Fees (10.00)
Brokerage Fees (20.00)
Net (23.00)

Obviously I had put a bigger order but filled only 3 shares!!!. From the above after selling shares, I have to pay another Rs23.00 to the broker SmileSmileSmile

Any of you getting similar sold notes?


Greedy
Which broker send the brought / sold notes via email?

8My Sold Note today Empty Re: My Sold Note today Fri Feb 24, 2012 10:10 pm

wiser

wiser
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

according to the circular they can charge CDS and brokerage for a particular equity if the amount exceeds a value of LKR 1562.50. I think ur broker sooner will correct it.

9My Sold Note today Empty Re: My Sold Note today Fri Feb 24, 2012 11:36 pm

kav4


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Capital Trust send brought / sold notes via email since the start of this year.


According to the circular brokerage for a particular equity has to be added together if the amount exceeds a value of LKR 1562.50
If it's below that amount, the minimum brokerage of Rs 10/- still applies.

10My Sold Note today Empty Re: My Sold Note today Sat Feb 25, 2012 12:20 am

Fresher


Moderator
Moderator

i learnt this the same way too some time back. isn't the minimum fill option there now?

11My Sold Note today Empty Re: My Sold Note today Sat Feb 25, 2012 4:33 am

greedy

greedy
Manager - Equity Analytics
Manager - Equity Analytics

chamith wrote:
greedy wrote:Today I received a sold note via email... the details looks like this...

Gross receipts 7.00
CDS Fees (10.00)
Brokerage Fees (20.00)
Net (23.00)

Obviously I had put a bigger order but filled only 3 shares!!!. From the above after selling shares, I have to pay another Rs23.00 to the broker SmileSmileSmile

Any of you getting similar sold notes?


As far as I know, trade confirmations (similar to bought and sold notes) are sent via email by many brokers including JBS, capital trust. Capital trust sends exact bought notes too.

Greedy
Which broker send the brought / sold notes via email?

12My Sold Note today Empty Re: My Sold Note today Sat Feb 25, 2012 5:50 am

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

greedy wrote:
chamith wrote:
greedy wrote:Today I received a sold note via email... the details looks like this...

Gross receipts 7.00
CDS Fees (10.00)
Brokerage Fees (20.00)
Net (23.00)

Obviously I had put a bigger order but filled only 3 shares!!!. From the above after selling shares, I have to pay another Rs23.00 to the broker SmileSmileSmile

Any of you getting similar sold notes?


As far as I know, trade confirmations (similar to bought and sold notes) are sent via email by many brokers including JBS, capital trust. Capital trust sends exact bought notes too.

Greedy
Which broker send the brought / sold notes via email?

thanks greedy, kav4.
Dont think Asia Sec send via email.

13My Sold Note today Empty Re: My Sold Note today Sat Feb 25, 2012 6:55 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

chamith wrote:
greedy wrote:
chamith wrote:
greedy wrote:Today I received a sold note via email... the details looks like this...

Gross receipts 7.00
CDS Fees (10.00)
Brokerage Fees (20.00)
Net (23.00)

Obviously I had put a bigger order but filled only 3 shares!!!. From the above after selling shares, I have to pay another Rs23.00 to the broker SmileSmileSmile

Any of you getting similar sold notes?


As far as I know, trade confirmations (similar to bought and sold notes) are sent via email by many brokers including JBS, capital trust. Capital trust sends exact bought notes too.

Greedy
Which broker send the brought / sold notes via email?

thanks greedy, kav4.
Dont think Asia Sec send via email.

Most of the broker firms send them by e - mail these days, so check with your firm as well

14My Sold Note today Empty Re: My Sold Note today Sat Feb 25, 2012 7:08 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics

http://forum.srilankaequity.com/t16263-23-feb-2012-consolidation-of-brokerage-and-cds-fees#106726

15My Sold Note today Empty Re: My Sold Note today Sat Feb 25, 2012 7:45 am

kav4


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

chamith wrote:

thanks greedy, kav4.
Dont think Asia Sec send via email.

No Asia Securities does not. So as Assetline Securities.

From my 3 brokers, only Capital Trust do this.

I really like this option as it's easy & save papers. But unfortunately Capital Trust send the paper based version too.

16My Sold Note today Empty Re: My Sold Note today Mon Feb 27, 2012 2:44 pm

Expert

Expert
Manager - Equity Analytics
Manager - Equity Analytics

Looks like CSE did it the other way around.

Their notice reads as:


Consolidation of Brokerage and CDS Fees

With the implementation of ATS Version 7 from 24th February 2012, please note that Brokerage Fees and CDS Fees applicable for Equity Securities (where a minimum Brokerage Fee and a CDS fee is applicable) will be consolidated as a consequence of the change in the Board Lot size to one (1).


In this regard the Brokerage and CDS Fees will be consolidated at two levels as set out below;


a) The value of trades carried out by a client, on a particular security within a particular market day above a value of Rs 1,562.50 will be consolidated for purposes of levying the Brokerage Fee (As the Brokerage Fee for trades over the value of Rs 1,562.50 calculated at 0.64% exceeds the minimum Brokerage Fee of Rs 10/-).


b) The value of trades carried out by a client, on a particular security within a particular market day above a value of Rs 20,833 will be consolidated for purpose of levying the CDS Fee. (As the CDS Fee for trades over the value of Rs 20,833/- calculated at 0.024% exceeds the minimum CDS Fee of Rs 5/-.)



If the value of your trade is above Rs.1,562.50, they will consolidate all such trades for the same day and same security for the calculation of Brokerage Fee. Something really foolish. There is no impact on anything at all. If your trade value is above Rs.1,562.50, anyway your Brokerage would be 0.64%. It will be more than that only if it is below Rs.1,562.50. Why consolidate then?

Same applies to the CDS Fee in the same way.

It should have been that, if the trade value is less than Rs.1,562.50 to consolidate with other trades for the same security for the same day (even if they are more than Rs.1,562.50), so that there is a benefit to the trader, if he traded a lot but the other side of the trade was in small quantities.

Actually, in my opinion, what they should do is, disregarding the value of a trade, to consolidate all trades of the same person, for the same security during the same day and apply all the taxes, levies, fees, etc., on the consolidated value.

Don't you think so?

I just don't understand these CSE people.

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