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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Former and New Chairmen of the Colombo Bourse are in a move to reduce retailers and slow down broker provided credit

Former and New Chairmen of the Colombo Bourse are in a move to reduce retailers and slow down broker provided credit

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JennyFunny


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@ Market Sira..ha ha lols..

pushpakumara


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
If the contents of the article is correct I can not understand why CSE is enouraging retail participation by conducting seminars, TV programs, setting up branches in area like Kandy, Jaffna, Matara etc.

Should some one work for the greater interest of majority or minority?

rukaa


Senior Equity Analytic
Senior Equity Analytic
you are 100% correct pushpakumara.......

Rajitha


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@nathanfornash wrote:The obvious issue here is not the chairmen, its the ceos of stockbrokers with an axe to grind. They are obviously complaining because when there is no broker credit their margins get thinner, which means lesser bonuses.

Yes broker credit will make things nice in the short run, but let's see what happens if brokers continue to provide credit, people cannot pay, and then the market crashes again. Golden key will look like a small problem compared to that.

And what connection does raj rajaratnam have to this? Is it cos he bought shares in those companies? Nor does the last few paragraphs have any relevance to the issue at hand. Asiantribune writers dont seem to have half a brain.

Look at the sound arguments of this guy! A guy whos talking with such facts Very Happy Very Happy
In this theory next step of allowing broker credit will be that the Sri Lanka will go on to terrorism and US will take over Sri Lanka! So if you want to stop US and separatists taking Sri Lanka don't give credit to retailers! rendeer

OFC its good thing to allow all big shots huger credit! That will lead to whole island being prosperous. Also with this credit logic we should stop banks giving loans to small individuals and that should be limited to only business and HNWI with lons over Rs 1 billion! This will make sure no golden key sort of incident occurring! lol!

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
what do you understand by margin facility provided by a licensed margin provider.... it is simply credit ..

So what is wrong with allowing broker firms to provide margin to their clients under predefined guidelines

All what is this so called Regulator need to do is have a active surveillance..

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Most of the time right decisions are unpopular decisions. Everybody hates them but it is what's need to be done. Look at the current market and the shares that go up after the brokers gave the carrot to the investors. CSE has become a casino spot. Stock symbols have become betting hands. They have no relationship with the real world. Look at the number of posts here saying 'sudden interest in XYZ'. this is even before doing any changes.

Problem with giving credit to brokers is you can't trust the brokers. These rules have been there even in the beginning. But brokers did not follow them. When SEC require reports from the brokers, brokers make sure that on the report day everything is in order covering up all the debt. I wonder how much debt is hidden. I think many of the brokers who are crying 'in the name of retail traders' must be losing a lot from these illegal credit if need to be recovered or worse may be they cannot even recover them without giving more credit. May be if there's nothing to hide or haven't been giving credit on credit without a security then those brokers may not have to worry.

nathanfornash


Equity Analytic
Equity Analytic
@duke wrote:

I think many of the brokers who are crying 'in the name of retail traders' must be losing a lot from these illegal credit if need to be recovered or worse may be they cannot even recover them without giving more credit.

You are 100% correct. Wonder why certain "expert" investors here don't seem to be able to understand that. It basically boils down to:

No credit from broker = possibly less business for that broker (which would anyway have been very risky business) = less bonus for the brokers/CEOs. Very possibly the above mentioned may have made some statements to this effect, although I very much doubt they have anything to gain by forming secret "consortiums" as the uneducated writer seems to suggest. Although it is very clear why the brokers seem upset if this is the case. I have been screwed over by enough greedy brokers not to trust them for one second.

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
After beating the crap out with softlogic and expo now they are all out to save the world.

insidertrader


Manager - Equity Analytics
Manager - Equity Analytics
When SEC started monitoring the brokers one of the broker places said to be having a large retail customer base quickly setup a margin trading division and converted all the debtors to margin traders. [Wait a minute! god! broker credit is already there.] Head broker of this place always cry about the retail investor. His newsletters are always pleading sometimes in red bold letters tomorrow will be better please buy. I'm pretty sure this broker cannot oblige even most of his debts if the need arises. These people must have given credit like crazy. Now they can't come out of this credit crisis. Now they appeal to SEC. Retail investor thinks it is for their benefit.

Everybody should watch inside job if haven't seen.

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@duke wrote:Most of the time right decisions are unpopular decisions. Everybody hates them but it is what's need to be done. Look at the current market and the shares that go up after the brokers gave the carrot to the investors. CSE has become a casino spot. Stock symbols have become betting hands. They have no relationship with the real world. Look at the number of posts here saying 'sudden interest in XYZ'. this is even before doing any changes.

Problem with giving credit to brokers is you can't trust the brokers. These rules have been there even in the beginning. But brokers did not follow them. When SEC require reports from the brokers, brokers make sure that on the report day everything is in order covering up all the debt. I wonder how much debt is hidden. I think many of the brokers who are crying 'in the name of retail traders' must be losing a lot from these illegal credit if need to be recovered or worse may be they cannot even recover them without giving more credit. May be if there's nothing to hide or haven't been giving credit on credit without a security then those brokers may not have to worry.

Problem in Sri Lanka is there is rules and regulations and laws written but poorly implemented.

my opinion is achieve sustainable market at this moment CSE desperately need funds.

IPOs
PP
Rights
warrant conversions ............ for all these funds are required and huge chunk of funds are stuck with these and at the same time foreigners are net sellers.
If brokering firms bring their excess capital to market it will help the market at this moment. As we all know this is not illegal practice. Problem here is SEC cannot monitor these brokers..

Cant SEC find a way to monitor them...







Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
Does any one know the outcome of these meetings? .....

I think after considering pros and cons compromised solution can be achieved. ......
When these rules are too strict real investors are also reluctant to invest. Best thing is to allow limited level of credit in a regulated manner with constant monitoring...... As far as investors are concerned it is the time to learn not to misuse them, they can always go back to strict regulations..... If there is discipline CSE, retailers, broker firms all will be benefited.
Smile Smile



Last edited by Aamiable on Wed Aug 10, 2011 8:38 pm; edited 1 time in total

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
stockboy, haven't you posted the same article in the first post?

@Aamiable wrote:As far as investors are concerned it is the time to learn not to misuse them,

We can see the how the investors use it right now. Still it's only 'news'. Even then look at the 'Why is X going up', 'sudden interest in Y' In the past few days I have seen stock symbols I never knew existed going over the roof. It'll be chaos.

kumudu


Senior Equity Analytic
Senior Equity Analytic
If the credit rule is not lifted we can see how will those top chairs have their job in future. Same time after the foreigners left those who think they are big fish will play in CSE for little while and no retail investors to give oxygen and have to die.

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
Exactly...That is the problem excessive credit beyond the capacity of settling them, and then only forced selling come in to effect. .....Self discipline and certain limitations on broker firms would be needed. …..need a balance and compromise at the end. I know it is a difficult situation, that is the reason why certain limitations are necessary....... Smile Smile

same time ...Cannot exclude retailers , need a balance. Smile

RDS

RDS
Manager - Equity Analytics
Manager - Equity Analytics
This what i can see, All have personal agenda & all are try fulfill that, no one think about others.

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