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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » How to Open Online Stock Trading Account

How to Open Online Stock Trading Account

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smallville


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Antonym wrote:Thanks, NewComer!

I want to get the Rights into my CDS account, so that I can sell them - only if the Rights price is higher than expected. So, I should hand over the Acceptance Form (A) and Renunciation Form (B) to my broker. Is that correct?

"(even if you don't have cash at that moment but if there are .R in your account I think(not sure) they are always converting it, so you'll have to pay for it)"

Normaly broker wont convert the rights to shares even if you have money in your acc. You'll have to at least give your verbal confirmation.
Say u have 5000 rights, still you can ask ur broker to convert only 1000 letting go the other 4000 (loss forever) Wink

If you only want to get Rights lodged in ur CDS account (which u can trade) - Hand over only Renunciation Form (B) to ur broker

sriranga


Co-Admin
From the CDS website-
Rights and Share Splits
Right Issues
In the event a Listed Company announces a rights issue, CDS shall furnish the Listed Entity or its Secretary/Registrar a list of CDS account holders with their respective holdings with regard to that security as at the date of entitlement.

The Listed Entity shall post the letters of allotment direct to the respective security holders. Security holders may deposit such letters of allotment with the CDS.

Trading on allotment letters in the market shall be done through a Participant and shall be after deposit of the letter of allotment with CDS.

Cheques in respect of rights purchased shall be sent to CDS through the Participant through whom the rights were purchased and shall be drawn as specified by the Company.

All the cheques shall be forwarded to relevant manager/registrar to the offer by CDS on renunciation day.http://cds.lk/service/rights-share-splits.html



From
http://www.cse.lk/270808/pdf/CDSRules/CDS-rules-december-2010.pdf
10.4 Rights issues
a) In the event of a Listed Entity issuing Rights, the CDS shall furnish the Company Secretary of the Listed Entity a list of Account Holders with their respective holdings with regard to that Security as at the date of
entitlement.

b) The Listed Entity shall post the Provisional Letters of Allotment directly to the respective Account Holders as per information provided by CDS, subject to Rule 10.6 below.

c) An Account Holder may renounce his Provisional allotment of Rights arising from the Rights issue to the CDS through the Participant. For this purpose the duly perfected Provisional Letter of Allotment shall be deposited in the respective Client Account by the Account Holder through his Participant. The Account Holder may trade on such Rights through the Participant. Such deposits and trading in Rights shall be allowed during the period of renunciation of the Rights issue.

d) The CDS shall submit to the Participants a list of Account Holders who hold Rights in the CDS through such Participant with their respective holdings in Rights as at the last date of renunciation. The Participants shall submit the payments in respect of the Rights shares subscribed for by the Account Holders to CDS by 10.30 hours on the last date of Acceptance of Rights. Such payments shall be duly forwarded by the CDS to the relevant Listed Entity. Details of any Rights not subscribed by Account Holders shall be notified by the respective Participants to the CDS by 10.30 hours on the last date of Acceptance of Rights. Such Rights not subscribed by Account Holders will be duly withdrawn by the CDS.

e) Any Rights duly subscribed by the Account Holders in the CDS, shall be converted to shares as per the instructions given by the Company Secretary of the Listed Entity upon the listing of such shares on the CSE pursuant to the Rights issue.

10.5 In the event Rights or dividends accrue to an Account Holder between the trade day and the settlement date and such Account Holder defaults payment on the Securities purchased, the Participant shall be entitled to the following:
a) Prior to the date of dispatching the letter of provisional allotment, which shall not exceed five (5) Market Days from and excluding the date of provisional allotment (in the event of a Rights issue) or the date of payment (in the event of a dividend), request the CDS, in writing, to transfer such entitlement in favour of the Participant.

b) On receipt of such request the CDS shall inform the relevant Listed Entity to issue the entitlement (Rights or dividend) in favour of the Participant.

10.6 The Company Secretary of the Listed Entity may, at his/her/its discretion and at his/her/its own risk, deviate from the information given by the CDS pertaining to the address or the dividend Payment instructions of an Account Holder who is entitled to a corporate benefit, if sufficient proof is produced by the Account Holder to the satisfaction of the Company Secretary of the Listed Entity, giving reasons for such deviation from the instructions/information given by the CDS.

http://sharemarket-srilanka.blogspot.co.uk/

Fresher


Moderator
Moderator
quick re-cap

Form A & B are on same page. If you want to deposit the R in CDS trade, fill only the B part.
If you want to convert rights to shares, fill only A part.
If you want to apply for additional shares at the price of rights conversion, fill C.

slstock - in that case, does he signs for you ?

Antonym


Vice President - Equity Analytics
Vice President - Equity Analytics
slstock, NewComer, smallville, sriranga & npp: Thanks, you guys have been a great help!

Chinwi


Associate Director - Equity Analytics
Associate Director - Equity Analytics
npp wrote:

slstock - in that case, does he signs for you ?

පිස්සුද ? එහෙම කොහොමද?
--
p.s.
හැම දේම කියල දෙන්න පුලුවන්ද?
just use your brain kollo.

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Chinwi wrote:
npp wrote:

slstock - in that case, does he signs for you ?

පිස්සුද ? එහෙම කොහොමද?
--
p.s.
හැම දේම කියල දෙන්න පුලුවන්ද?
just use your brain kollo.

rabbit rabbit

27How to Open Online Stock Trading Account  - Page 2 Empty How to Open Online Stock Trading Account Sun Sep 04, 2016 10:31 pm

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
Who are the best stock brokers?   which stock brokers offer best online trading platforms?   Which brokering company offers good regular research reports?

KAS10


Manager - Equity Analytics
Manager - Equity Analytics
Compared to other brokers Richard Pieris Securities is offering some interesting facilities to clients specially to retailers. My account with them and its very easy to deal with those guys at Arpico. I have seen most of the brokering firms now discouraging retailers and these guys are mainly focusing on retail trading and which is a great thing for small time investors like us.
1.Direct FN to any client (even for a rs.10000.00 portfolio)
2.Margin trading (Richard Pieris Financial Services) and in house margin with a lowest rate.
3.No month end selling. 
4.Reuters trading platform to be announced 
5.Good research reports & if you want customized research to be done that also can be done upon request.
6.Ample parking facilities for more than 25 vehicles 
7.Friendly staff

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
@KAS10 wrote:Compared to other brokers Richard Pieris Securities is offering some interesting facilities to clients specially to retailers. My account with them and its very easy to deal with those guys at Arpico. I have seen most of the brokering firms now discouraging retailers and these guys are mainly focusing on retail trading and which is a great thing for small time investors like us.
1.Direct FN to any client (even for a rs.10000.00 portfolio)
2.Margin trading (Richard Pieris Financial Services) and in house margin with a lowest rate.
3.No month end selling. 
4.Reuters trading platform to be announced 
5.Good research reports & if you want customized research to be done that also can be done upon request.
6.Ample parking facilities for more than 25 vehicles 
7.Friendly staff

what is the interest rate they are offering for margin trading?

hiransilva23


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I think nation lanka equities also good.thr rate z 16

KAS10


Manager - Equity Analytics
Manager - Equity Analytics
if im not mistaken Arpico is the lowest rate. They are offering 14.87% pa and with some additions. I never had bad experiences with those guys. Dont forget AWLR is 12.22% right now so 14.87% is a bonus.

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
@KAS10 wrote:if im not mistaken Arpico is the lowest rate. They are offering 14.87% pa and with some additions. I never had bad experiences with those guys. Dont forget AWLR is 12.22% right now so 14.87% is a bonus.

Do Richard peries stock brokers offer regular research reports?

KAS10


Manager - Equity Analytics
Manager - Equity Analytics
@ccsentha wrote:
@KAS10 wrote:if im not mistaken Arpico is the lowest rate. They are offering 14.87% pa and with some additions. I never had bad experiences with those guys. Dont forget AWLR is 12.22% right now so 14.87% is a bonus.

Do Richard peries stock brokers offer regular research reports?

Yes they do. Once i wanted to know about KAPI and SIRA and i asked my broker and he asked me weather i want a detailed report and i said yes. They gave me the report in a day, didnt had that experience with other firms.

ramanesh


Equity Analytic
Equity Analytic
How about PMB rates

gayanath1983

gayanath1983
Vice President - Equity Analytics
Vice President - Equity Analytics
PMB....still on default board. Dont trust default board shares ever...

gayanath1983

gayanath1983
Vice President - Equity Analytics
Vice President - Equity Analytics
PMB....still on default board. Dont ever trust default board shares

KAS10


Manager - Equity Analytics
Manager - Equity Analytics
PMB 16% i guess

Namal


Senior Equity Analytic
Senior Equity Analytic
Does anyone knows brokerages that gives online trading facility without minimum investment limit...?

kassachandi


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Capital Trust

EquityChamp

EquityChamp
Moderator
Moderator
Capital Trust, LOLC Securities for sure.

Bale87

Bale87
Stock Trader
I think SC securities also give the online trading facility with no minimum investment limit.

42How to Open Online Stock Trading Account  - Page 2 Empty How to open online trading account Fri Nov 08, 2019 2:09 am

naveen


Equity Analytic
Equity Analytic
Hi
I want to know how can i open online trading account. I have cds account with ashaphilips, since i live in dubai is there any easy way. I can not find any information on there website.

samaritan


Moderator
Moderator
I am sure you are optimistic about Gota's victory and wish to invest in the CSE which was sluggish for the past nearly five years. Contact your stock broker who will direct you to gain access to their online trading platform. Good Luck!


_________________




The biggest risk in life is not taking any risk at all.

TURBO


Stock Trader
you can call them.
Minimum investment is Rs. 200,000 to get online platform. You have to fill an application form to get it.

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