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BFI sector becoming unattractive: SEC New Directive will Reward 'Big Sharks Banks & Finance Companies' but will allow to crash Banking, Finance Sector shares and Retailers and some SME Stock Traders will lose 'Big Time'

+2
Harry82
Business Basil
6 posters

Go down  Message [Page 1 of 1]

Business Basil


Manager - Equity Analytics
Manager - Equity Analytics

SEC has lifted (removed) the rules imposed by section 6.3 of Automated Trading Rules.

This will allow 'White Collar crooks' of banking sector and finance sector and investment banking sector to cross a share parcel below 5% or even greater which means even below 10% or even 15% or even 20% where retailers and small and medium entrepreneurial foreign and local stock traders to lose big time.

BFI or Banking & Finance and Insurance Sector is the largest contributor for Daily market turnover.And this will benefit all mergers and acquisitions to happen at cheaper prices and they might do daily trading dumping to retailers whilst crossings are going on and returning back to same hands.

Stock Brokers too will artificially work out to 'Pump & Dump' for retailers and market will crash.

SEC has taken a non-intelligent decision to help DFCC-NDB and SAMPATH Bank, LB Finance, Vallibel Finance, PABC, Nations Trust Bank, The Finance, Seylan Merchant Leasing Mergers and this will also allow foreigners to buy large share parcels to cross at very cheaper prices and then to dump at a large capital gain for retailers of this country.

We should take over Colombo Stock Exchange and Regulator at World Trade Centre Level 29 of East Tower and Below like 'Occupy Wall Street'.

We should tite this as 'Occupy Colombo Stock Exchange Regulator' who has helped white collar criminal activity to continue at a time when market is going up.

Very Bad this is what happen when so called 'Bureaucrats' come to seats just to satisfy their circle of friends.



Last edited by Business Basil on Tue Sep 23, 2014 11:50 am; edited 1 time in total

Business Basil


Manager - Equity Analytics
Manager - Equity Analytics

SEC Directive on Lifting (Removing) Price Constraints here http://www.cse.lk/cmt/upload_cse_report_file/directives_225_23-09-2014.pdf

6.    CROSSINGS BOARD
A crossing will be entered by both parties specifying the security, client, contra broker ID and price.
The crossing is deemed to be entered when both parties have completed the entry. If the seller
does not have an adequate CDS balance the crossing will be purged from the book and will have to
be reentered.  

6.1 Price determination mechanism
             The crossings will execute at the entered price.
       6.2 Amendments / Cancellations
                   Orders for crossings can be amended or cancelled by Brokers prior to execution.  

6.3 Price constraints

A crossing shall not take place at a price below 5% of the closing price as defined in Rule 8.1.
No price cap will be enforced.  
For Debt securities a crossing shall not take place at a price below 2% of the reference price.

6.4 Trading unit
To be crossed the parcel must be;
a) More than 5% of the issued quantity of the specific security OR
b) Greater than Rs. 20,000,000/‐ 
For debt securities Crossings are limited to trade transactions greater than Rs 10,000,000/‐.

6.5 Visibility
Orders placed on the crossing board will not be visible in the normal market data displays
and hence will not put price pressure on other trading. The trade will be displayed as an
execution.

Business Basil


Manager - Equity Analytics
Manager - Equity Analytics

ATS Rules could be seen here

http://www.cse.lk/pdf/ATS-RULES.pdf

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

then
DFCC-NDB and SAMPATH Bank, LB Finance, Vallibel Finance, PABC, Nations Trust Bank, The Finance, Seylan Merchant Leasing prices will up
comming days

DealKing

DealKing
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Harry82 wrote:then
DFCC-NDB and SAMPATH Bank, LB Finance, Vallibel Finance, PABC, Nations Trust Bank, The Finance, Seylan Merchant Leasing  prices will up
comming days

no up this post means they will come down and crossings will happen at cheap prices.Read properly Harry82

NC

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

For some banks, they'll have to raise huge capital..

- minimum capital of banks had to be raised to Rs.  10 billion by January 1, 2016
- new banks and licensed specialized banks (LSBs) it will be raised to Rs. 5 Bn by 2015.
- Licensed finance companies (LFCs) will have to increase their minimum core capital to Rs. one billion by 2016 and to Rs. 1.5 billion by 2018.

Hope this'll be only valid during consolidation period. If not truly disappointing..  
However, SEC have to keep eye on them, after the deal is done...

Sylvester1234


Senior Equity Analytic
Senior Equity Analytic

NC wrote:For some banks, they'll have to raise huge capital..

- minimum capital of banks had to be raised to Rs.  10 billion by January 1, 2016
- new banks and licensed specialized banks (LSBs) it will be raised to Rs. 5 Bn by 2015.
- Licensed finance companies (LFCs) will have to increase their minimum core capital to Rs. one billion by 2016 and to Rs. 1.5 billion by 2018.

Hope this'll be only valid during consolidation period. If not truly disappointing..  
However, SEC have to keep eye on them, after the deal is done...


Looks like it is to support consolidation initiative of Central Bank . If consolidation is good for the country it should be supported. If not  ok to complain about CB and SEC.

Gintonic


Manager - Equity Analytics
Manager - Equity Analytics

Business Basil wrote:SEC has lifted (removed) the rules imposed by section 6.3 of Automated Trading Rules.

This will allow 'White Collar crooks' of banking sector and finance sector and investment banking sector to cross a share parcel below 5% or even greater which means even below 10% or even 15% or even 20% where retailers and small and medium entrepreneurial foreign and local stock traders to lose big time.

BFI or Banking & Finance and Insurance Sector is the largest contributor for Daily market turnover.And this will benefit all mergers and acquisitions to happen at cheaper prices and they might do daily trading dumping to retailers whilst crossings are going on and returning back to same hands.

Stock Brokers too will artificially work out to 'Pump & Dump' for retailers and market will crash.

SEC has taken a non-intelligent decision to help DFCC-NDB and SAMPATH Bank, LB Finance, Vallibel Finance, PABC, Nations Trust Bank, The Finance, Seylan Merchant Leasing Mergers and this will also allow foreigners to buy large share parcels to cross at very cheaper prices and then to dump at a large capital gain for retailers of this country.

We should take over Colombo Stock Exchange and Regulator at World Trade Centre Level 29 of East Tower and Below like 'Occupy Wall Street'.

We should tite this as 'Occupy Colombo Stock Exchange Regulator' who has helped white collar criminal activity to continue at a time when market is going up.

Very Bad this is what happen when so called 'Bureaucrats' come to seats just to satisfy their circle of friends.
If we do that,we'll be labelled "Desha drohi arthika gathakayo" & will be given "Minimum Reasonable Force Treatment." Wink

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