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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Please make complaint about New Trading System ATS 7 Specially ODD lots transaction.

Please make complaint about New Trading System ATS 7 Specially ODD lots transaction.

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seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hi Friends

Kindly make complaint about New Trading System ATS 7 Specially ODD lots transaction to following emails address ( CSE & SEC). If u know any cotact party in CSE. pls provide the email add to make complaint to theire individual add.

info@cse.lk
dhammika@sec.gov.lk
chandu@sec.gov.lk
vajira@sec.gov.lk
tushara@sec.gov.lk


You may be aware of fee will charge to each trade ( minimum brokerage fee Rs.10 and CDS Rs.5). Friday I had bad experience, my intention was to sell LOFC 2000 shares @ 5.80, I placed the order. Someone purchased 1share @ 5.80 from order of 2,000. When I see the broker’s Account statement, which shows that I have to pay nearly Rs.15.04. Even after selling my investment, I am end up to pay. What useless system.

Friday i was cought... Today or Tomorrow may be you

So Kindly request you all to make complaint to above emails add to avoid these type of useless transsactions.


maalinda


Manager - Equity Analytics
Manager - Equity Analytics
it sucks. The minimun fill option has been disabled for DFN.

CDAX i cant place orders.

nuwanw


Stock Trader
@seyon wrote:Hi Friends

Kindly make complaint about New Trading System ATS 7 Specially ODD lots transaction to following emails address ( CSE & SEC). If u know any cotact party in CSE. pls provide the email add to make complaint to theire individual add.

info@cse.lk
dhammika@sec.gov.lk
chandu@sec.gov.lk
vajira@sec.gov.lk
tushara@sec.gov.lk


You may be aware of fee will charge to each trade ( minimum brokerage fee Rs.10 and CDS Rs.5). Friday I had bad experience, my intention was to sell LOFC 2000 shares @ 5.80, I placed the order. Someone purchased 1share @ 5.80 from order of 2,000. When I see the broker’s Account statement, which shows that I have to pay nearly Rs.15.04. Even after selling my investment, I am end up to pay. What useless system.

Friday i was cought... Today or Tomorrow may be you

So Kindly request you all to make complaint to above emails add to avoid these type of useless transsactions.


same thing happen to me . thank you for gave email addresses

snandasiri

snandasiri
Manager - Equity Analytics
Manager - Equity Analytics
@maalinda wrote:it sucks. The minimun fill option has been disabled for DFN.

CDAX i cant place orders.

I can place orders using CDAX.But can't use min quantity option.

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I'm complaining tomorrow! Now it's late.

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
WOW.. a new jilmart was introduced Wink

If market is down ppl are fear of buying still CDS makes money and brokers too Wink

greedy

greedy
Manager - Equity Analytics
Manager - Equity Analytics
@seyon wrote:Hi Friends

Kindly make complaint about New Trading System ATS 7 Specially ODD lots transaction to following emails address ( CSE & SEC). If u know any cotact party in CSE. pls provide the email add to make complaint to theire individual add.

info@cse.lk
dhammika@sec.gov.lk
chandu@sec.gov.lk
vajira@sec.gov.lk
tushara@sec.gov.lk


You may be aware of fee will charge to each trade ( minimum brokerage fee Rs.10 and CDS Rs.5). Friday I had bad experience, my intention was to sell LOFC 2000 shares @ 5.80, I placed the order. Someone purchased 1share @ 5.80 from order of 2,000. When I see the broker’s Account statement, which shows that I have to pay nearly Rs.15.04. Even after selling my investment, I am end up to pay. What useless system.

Friday i was cought... Today or Tomorrow may be you

So Kindly request you all to make complaint to above emails add to avoid these type of useless transsactions.



This is the exact thing happened to me also...... http://forum.srilankaequity.com/t16331-my-sold-note-today#107176

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
everyone should complain this until their in boxes get filled.

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Thanks Seyon addressing a critical issue.

K.Haputantri

K.Haputantri
Co-Admin
Sure. I too want to inform the authorities on the stupidity of this system. They should waive off this stupid fee.

Sudarshen


Manager - Equity Analytics
Manager - Equity Analytics
I spoke with my broker today, he told that charges will be applied to the whole order not to the individual count that was sold,
Say if you put order to sell 200 count of company AAA @ 10.00. But it was sold in 3 instances, say 75, 50 , 75. Brokerage & other charges will be applied only once for the whole order.
Anyway we will have to wait until we get the receipt by post.

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Sudarshen wrote:I spoke with my broker today, he told that charges will be applied to the whole order not to the individual count that was sold,
Say if you put order to sell 200 count of company AAA @ 10.00. But it was sold in 3 instances, say 75, 50 , 75. Brokerage & other charges will be applied only once for the whole order.
Anyway we will have to wait until we get the receipt by post.

That is only if the total value of the all the orders that got filled(for that share) is greater than Rs.1562.50, then the broker fees will be charged for the whole value(i.e 0.64%). Otherwise we'll have to pay Rs.10 each for each transaction.

Similarly if the total value of the all the orders that got filled(for that share) is greater than Rs.20,833, then the CDS fee will be charged for the whole value(i.e 0.024%). Otherwise we'll have to pay Rs.5 each for each transaction.

Today I placed an order to buy 200 share at Rs.10.10. And it has been filled as 3 trades and this is how I'm charged for that.

Please make complaint about New Trading System ATS 7 Specially ODD lots transaction.  B210

Since the total value is greater than Rs.1562.50, broker fee is just 0.64% for the total value.
But since it is less than Rs.20,833, CDS fee is charged for each trade at Rs.5.(Rs5*3 = Rs.15)
(Luckily it was filled in 3 trades, if it was filled in 50 trades, I'll have to pay CDS fee Rs.5 50 times. More the trades, more we have to pay.) Rolling Eyes

In case if the total value was less than Rs.1562.50 they would charge broker fee also Rs. 10 each for these 3 trades(i.e Rs.30).

With illiquid shares people have started buying/selling a single share..in that case both buyer and seller will end up paying a broker fee of Rs.10 and CDS fee of Rs.5 for the single share(as it has happened to greedy and seyon)

Three options.
1.CSE/SEC should allow minimum quantity option
2.CSE/SEC should stop trading odd shares in the normal board
3.Invesors/Traders should understand buying/selling small number of shares cost them a lot (with minimum broker fee Rs.10 and minimum CDS fee Rs.5) and stop doing that unless it's really necessary. Doing that with shares having a price around Rs.1500 will not create a issue, even if they buy/sell 1 share. But for shares around Rs.100 and less it'll cost a lot to buy/sell a 1,2 shares.

monash

monash
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I already complained on early morning today in a language these idiots deserve to be treated.. Smile This is clearly lack of common sense.. No need to have doctorate or other degrees to understand this.. Every time when the market have some momentum these idiots do some stupid thing and ruin the whole market.

Even on beginning of last year when market perform well they came up with credit rules and other unnecessary stupid rules, which resulted CSE to be the world's worst performing market. Evil or Very Mad Evil or Very Mad

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@2011_NewComer wrote:
@Sudarshen wrote:I spoke with my broker today, he told that charges will be applied to the whole order not to the individual count that was sold,
Say if you put order to sell 200 count of company AAA @ 10.00. But it was sold in 3 instances, say 75, 50 , 75. Brokerage & other charges will be applied only once for the whole order.
Anyway we will have to wait until we get the receipt by post.

That is only if the total value of the all the orders that got filled(for that share) is greater than Rs.1562.50, then the broker fees will be charged for the whole value(i.e 0.64%). Otherwise we'll have to pay Rs.10 each for each transaction.

Similarly if the total value of the all the orders that got filled(for that share) is greater than Rs.20,833, then the CDS fee will be charged for the whole value(i.e 0.024%). Otherwise we'll have to pay Rs.5 each for each transaction.

Today I placed an order to buy 200 share at Rs.10.10. And it has been filled as 3 trades and this is how I'm charged for that.

Please make complaint about New Trading System ATS 7 Specially ODD lots transaction.  B210

Since the total value is greater than Rs.1562.50, broker fee is just 0.64% for the total value.
But since it is less than Rs.20,833, CDS fee is charged for each trade at Rs.5.(Rs5*3 = Rs.15)
(Luckily it was filled in 3 trades, if it was filled in 50 trades, I'll have to pay CDS fee Rs.5 50 times. More the trades, more we have to pay.) Rolling Eyes

In case if the total value was less than Rs.1562.50 they would charge broker fee also Rs. 10 each for these 3 trades(i.e Rs.30).

With illiquid shares people have started buying/selling a single share..in that case both buyer and seller will end up paying a broker fee of Rs.10 and CDS fee of Rs.5 for the single share(as it has happened to greedy and seyon)

Three options.
1.CSE/SEC should allow minimum quantity option
2.CSE/SEC should stop trading odd shares in the normal board
3.Invesors/Traders should understand buying/selling small number of shares cost them a lot (with minimum broker fee Rs.10 and minimum CDS fee Rs.5) and stop doing that unless it's really necessary. Doing that with shares having a price around Rs.1500 will not create a issue, even if they buy/sell 1 share. But for shares around Rs.100 and less it'll cost a lot to buy/sell a 1,2 shares.

Newi, Absolutely correct .. Today i made the complaint to CSE and SEC.. Following are the direct cotacat emails to officials who are directly involved in developing the system


renuke@cse.lk

dilantha@cse.lk


Kindly email ur issues to these fools and make them aware about this issues, thenonly these fools will understand.

Kindly request you all to make complaint to above emails to avoid these transactions.

I am sure we all can do.......

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I have sent my complaint e-mails to both SEC and CSE.

seyon


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Roboticfx wrote:I have sent my complaint e-mails to both SEC and CSE.


Thanks. Did u send ur complaint to these emails adds, if not pls send. since these fools are directly involved in developing the system.

renuke@cse.lk

dilantha@cse.lk

rm

rm
Senior Equity Analytic
Senior Equity Analytic
Yes, CSE & SEC making market worst and worst by introducing new foolish rules. while they introduce something new at-least they should have some common sense.

Sudarshen


Manager - Equity Analytics
Manager - Equity Analytics
I'm not sure whether they read them, they will simply selects them all & click delete. Best thing is to call their mobile & also residence phones when they start to sleep... Very Happy
Pls find their numbers & publish in the forum.

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@seyon wrote:
@Roboticfx wrote:I have sent my complaint e-mails to both SEC and CSE.


Thanks. Did u send ur complaint to these emails adds, if not pls send. since these fools are directly involved in developing the system.

renuke@cse.lk

dilantha@cse.lk

yes!

snandasiri

snandasiri
Manager - Equity Analytics
Manager - Equity Analytics
@Sudarshen wrote:I'm not sure whether they read them, they will simply selects them all & click delete. Best thing is to call their mobile & also residence phones when they start to sleep... Very Happy
Pls find their numbers & publish in the forum.
I think that will work better.

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