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

+11
Sudarshen
K.Haputantri
Redbulls
cseguide
greedy
smallville
Roboticfx
snandasiri
nuwanw
maalinda
seyon
15 posters

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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


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


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


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.

maalinda


Manager - Equity Analytics
Manager - 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.  - Page 2 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 That is a Cristal clear explanation. Thank you.

Without minimum fill option we will end up paying more money to these bastards.

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Min fill option will be enabled within 2 weeks in capital trust DFN!

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Roboticfx wrote:Min fill option will be enabled within 2 weeks in capital trust DFN!

Roboticfx, you got that info from CT or DFN?
Yesterday I sent a mail to the broker asking about it and no reply yet.

Smile

seyon


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

Roboticfx wrote:Min fill option will be enabled within 2 weeks in capital trust DFN!

Are u sure Robo.... But i heard that option u can only use it for matching ask and bid...

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Got the information from Capital trust! DFN also replied that they release next update on 7th of march!

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

seyon wrote:
Roboticfx wrote:Min fill option will be enabled within 2 weeks in capital trust DFN!

Are u sure Robo.... But i heard that option u can only use it for matching ask and bid...

Seyon - I'm not clear what you mean by ' u can only use it for matching ask and bid' ?

Robo - ok. thanks Smile

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics

I've sold BOGA 3 shares @ 14.90;
Gross value is = 44.70,
brokerage is = 30
CDS Fees = 15
other Fees = 0.18

Net Amt = -0.48

So after selling my shares Others are making profits Wink

Etakota man shares sell kale nehe...

seyon


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

smallville wrote:I've sold BOGA 3 shares @ 14.90;
Gross value is = 44.70,
brokerage is = 30
CDS Fees = 15
other Fees = 0.18

Net Amt = -0.48

So after selling my shares Others are making profits Wink

Etakota man shares sell kale nehe...

Bad scene, Better to make complaint to these officials and requlators.

seyon


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

2011_NewComer wrote:
seyon wrote:
Roboticfx wrote:Min fill option will be enabled within 2 weeks in capital trust DFN!

Are u sure Robo.... But i heard that option u can only use it for matching ask and bid...

Seyon - I'm not clear what you mean by ' u can only use it for matching ask and bid' ?

Robo - ok. thanks Smile

When u buy and sell ( From best buy and best sell), u can use this option to avoid the odd lots, but this option is only available to brokers.I did not see from direct fin and ATRAD.



Last edited by seyon on Thu Mar 01, 2012 10:03 am; edited 1 time in total

Roboticfx

Roboticfx
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Min fill option is available in DFN although it has been disabled but as you said it is not available in ATRAD.!

Xmen

Xmen
Senior Equity Analytic
Senior Equity Analytic

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.


I don’t think they will step back because of complains or e mails. Why we can’t go to court to ask correction for this unfair decision taken by the regulator.
If you can precede particular sold note to the court to prove mentioned transaction and its results, hope we can get court order to stop this nonsense at least temporary.
I think Court will analyze and will give good decision which can accept to both parties. This is my view. I am not a lawyer or specialist. But I feel this is a cheating.
We have to get together and fight to save our CSE. Remember these ppl are depending on investors.
But they are associated to win their demands. We are still thinking and asking their help and then loosing our money.
Sorry for the bad English.

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