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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Next Week - Do or Die

Next Week - Do or Die

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1Next Week - Do or Die Empty Next Week - Do or Die Fri Jul 29, 2011 3:47 pm

invest-abc


Manager - Equity Analytics
Manager - Equity Analytics
I think we will have a very interesting week ahead at CSE. If there was a huge liquidity problem at CSE, then the question is where did the money come from. ASI rose more than 400 points during the last 4 days. As we all know it is driven up mainly due to retailers and at the same time foreigners were net sellers most of the days. I believe most of the investors have used their broker credit (T+5 settlement funds) to push the Market up with the expectation that the discussions with SEC and Brokers firms will end up on a positive note. However, what will happen if the SEC decides to persist with the existing regulation on broker credit????...extend the T+5 to T+10 or 15?????...If, SEC persist with the existing regulations force selling will start from mid of next week for people who used T+5 funds. Question

2Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 4:10 pm

Investor99


Manager - Equity Analytics
Manager - Equity Analytics
I don’t expect any changes to the existing rules but there might be some compromise to the settlement date.

3Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 7:15 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Are we really expecting the T+5 to be removed? May be we're looking for another bubble..
I think as long as u dont request money for your transactions, u keep on investing, its pseudo money being circulated on the system..

4Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 8:56 pm

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
May be die..

This is reuters report of CSE on Friday (http://www.reuters.com/article/2011/07/29/markets-srilanka-idUSL3E7IT33F20110729)

The SEC after market hours on Friday said it had not received any proposal from brokers to ease the margin phase-out and other regulations, as numerous brokers have anonymously said.

Shocked Sad Mad

5Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 9:16 pm

Market Sucker

Market Sucker
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
* Index up on high turnover, volume on hopes of SEC rule
change
* Foreign outflow at 407.6 million rupees
* Rupee firmer, ending nine straight sessions
COLOMBO, July 29 (Reuters) - Sri Lanka's bourse jumped 2.9
percent on Friday to a three-week high on high turnover and
volumes, sparked by hopes of good quarterly earnings and rumours
the Securities and Exchange Commission (SEC) may roll back plans
to end margin trading.
The SEC after market hours on Friday said it had not
received any proposal from brokers to ease the margin phase-out
and other regulations, as numerous brokers have anonymously
said.

we need a bull run,but it ran so fast Sad

btw @wiki-then you also have to die,if you are a poor retailer like us,we everyone hope a good days..

6Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 9:25 pm

lokuayya


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
T+5 and credit clearance are two different things.I like T+3.It is the settlement cycle.It is good .Maximum should be T+5.no more.THe issue is not with settlement cycle.

The problem is the money lent by the brokers.It is out side settlement cycle. Many brokers have lent money to investors on interest to cover dues if not settled within settlement cycle.The period beyond settlement cycle is liable for a heavy interest.
The total amount of the credit is not known to any one.Only brokers know.I dont know whether SEc know about the figures. they have put dead line to payback the money borrowed by the investors .So no option investors have to sell everything to payback.This triggered a panic selling.
I cannot understand what is the reason to do it quickly.It is not SEC or governments money. I think legally SEC cannot prevent lending by any broker as long as they have adequate money beyond capital requirement.
solution is very simple,no need to create a panic.if they want to stop credit ,just remove the buying power from accounts and phase out the credit by transferring to margin trading accounts.this cannot be done quickly. they can remove dead lines and monitor the transfer of credit to margin accounts.
without doing that they have created a mayhem by triggering panic selling.

7Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 9:29 pm

invest-abc


Manager - Equity Analytics
Manager - Equity Analytics
Looks like another TWOD scenario....So once again "Buy the rumor,sell the news" hasn't worked...is it?? Exclamation

8Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 9:44 pm

insidertrader


Manager - Equity Analytics
Manager - Equity Analytics
SEC has given a whole year to pay up. If the credit can't be cleared in such a long time don't know how huge the credit mountain is.
On the other hand as some mentioned credit issue is like the WMD reason USA used to attack Iraq. Non trivial reason made up to cover up the market going down. It must be that the market is going down to shake up the extra weight gained by extra ordinary run in the last 2 years. If you think about it in the recent times market rose because of credit clearing deadlines. People were buying expecting something to do with credit.

9Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 10:11 pm

xmart

xmart
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Die...

10Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 10:14 pm

lokuayya


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
my guess also same . die...

11Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 10:16 pm

ISURU

ISURU
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
God knows

12Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 10:25 pm

stumpy

stumpy
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
D Day...!

13Next Week - Do or Die Empty Re: Next Week - Do or Die Fri Jul 29, 2011 11:49 pm

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics
@insidertrader wrote:SEC has given a whole year to pay up. If the credit can't be cleared in such a long time don't know how huge the credit mountain is.
On the other hand as some mentioned credit issue is like the WMD reason USA used to attack Iraq. Non trivial reason made up to cover up the market going down. It must be that the market is going down to shake up the extra weight gained by extra ordinary run in the last 2 years. If you think about it in the recent times market rose because of credit clearing deadlines. People were buying expecting something to do with credit.



This is not a problem of credit clearing. Either T+5 or T+3 is not a problem as far as brokers are allowed to lend their customers.Respective Broker will settle the dues as per the rule t+3 or T+5 or even T+2 if SEC wants to do so. Let the brokers to manage their customers' credit. Broker is responsible for their customers' credit and also responsible for settling dues of their clients. . If SEC cant trust brokers they can enforce rules to maintain Minimum assets value and/ or limit Brokers lending to an amount based on their assets. If that too not enough request brokers to insure their obligations and make rules to monitor that. If the authorities could implement a system like abve I do not think that this credit issue hit the market

14Next Week - Do or Die Empty Re: Next Week - Do or Die Sat Jul 30, 2011 6:36 am

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Market Sucker wrote:
btw @wiki-then you also have to die,if you are a poor retailer like us,we everyone hope a good days..


Same boat friend

15Next Week - Do or Die Empty Re: Next Week - Do or Die Sat Jul 30, 2011 12:05 pm

Jay123@SL


Stock Trader
Absolutely true Rajaram, 100% agreed, SEC should understand the ulterior motive of the ppl those who are proposing to carry on T+5, and drag the market down, most of the foreigners were missed the bus and some dont like to see as CSE as the no 1 market in the world, they may come with various proposals, SEC sould mature enough at least by now what and what not to impose on the market. Also it is unfair to make an entering point to the foreigners and those who are skeptical about CSE 2009 n2010, at the expences of hard earn money of the ppl who had a faith over CSE and its formance, let the market to flow at least another year without much restrictions and be mature enough to soak all these nonsens, rules and restrictions. If the broker firms are financial sound enough to lend their customers, what is the reason for SEC to jump up.

16Next Week - Do or Die Empty Re: Next Week - Do or Die Sat Jul 30, 2011 1:40 pm

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

The SEC after market hours on Friday said it had not received any proposal from brokers to ease the margin phase-out and other regulations, as numerous brokers have anonymously said

If brokers have played a cunning game with investers and if someone really want to die better be a suicide bomber:evil:

17Next Week - Do or Die Empty Re: Next Week - Do or Die Sat Jul 30, 2011 5:07 pm

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics
lokuayya wrote..,



T+5 and credit clearance are two different things.I like T+3.It is the settlement cycle.It is good .Maximum should be T+5.no more.THe issue is not with settlement cycle.



you are 100% right lokuayya. Problem is not the T+3 or T+5 .Under the privious system If someone does not able to settle payments for his/her purchases within the prescribed period his/her broker settle it and make a book entry cosidering the amount involved as a credit granted to respective investor. Investor was given sometime to settle the amount and he was liable to pay an interest on that until he settle his dues.The brokers extended credit to their clients based on the PF. We did not have any problem in recieving our sales proceeds under that systyem. In fact this system was operated nicely until SEC jumped and introduced all these unnecessary regulatons including restrictons to brokers for lending their custormers.. If I am correct T+5 or T+7 was there even before these new rules were introduced.

18Next Week - Do or Die Empty Re: Next Week - Do or Die Tue Aug 02, 2011 6:53 pm

Investor99


Manager - Equity Analytics
Manager - Equity Analytics
T+3 was already a prevailing rule and only thing SEC did was they enforced the rule

19Next Week - Do or Die Empty Re: Next Week - Do or Die Tue Aug 02, 2011 7:16 pm

manula


Vice President - Equity Analytics
Vice President - Equity Analytics
yes..Rajaraam..fully agreed with you.. Why these people cannot understand this simple thing ???

Big investors doing inside trading,manipulation, bubbles or what ever with their easy earnings..no action.. only poor retailers who lost the hard earn money will suffer for credit clearance.

Sad

20Next Week - Do or Die Empty Re: Next Week - Do or Die Wed Aug 03, 2011 10:58 pm

NightStalker


Senior Equity Analytic
Senior Equity Analytic
[quote="lokuayya"] I think legally SEC cannot prevent lending by any broker as long as they have adequate money beyond capital requirement.

Dude I am guessing that since all financial institutes are supposed to adhere to governing entities SEC can actually prevent brokers from lending money. Whether it is practical is another broader topic.

Anyway one small angle I seem to be seeing is that brokers want to give people credit since they want to somehow play the market and increase there pockets. Fine by us as long as we also benefit from it. Flipside though is that when we bet our money on the wrong horse, or when the market crashes (Touch wood I hope that doesn't happen) See in this scenario if the broker has availed us massive amounts as credit how would you suggest we clear it? What will be the repercussions of not being able to clear the debt?

Also agreeing with you guys that SEC has sometimes being hasty in implementing solutions, and at times taking time to implement these mechanisms they have played with us. But by and large don't you think we also could act more responsibly. Do you think that brokers do any kind of screenings when they lend money to investors?

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