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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Decision Postponed - We are screwed up yet again.

Decision Postponed - We are screwed up yet again.

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CHASE


Manager - Equity Analytics
Manager - Equity Analytics
two news says two things. let's see who's trying to make us fools. scratch

ranjanie


Manager - Equity Analytics
Manager - Equity Analytics
Aiyo, Balagiri dose wage . ekath ada nowe heta ne.Mekath ehemamai.

Genting


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@windi5 wrote:Next week i think. normally they meet on Wednesdays. they need more time to study broker proposals .

They knew what brokers were proposing for some time.
Seems like they have gone to the meeting without doing any analysis. That's why they ask for more time.

This shows SEC's incompetence again!

Moka munwa path karada danne ne?

swan03


Vice President - Equity Analytics
Vice President - Equity Analytics
Disappointed Mad

godswen


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Yes, I think the decision is postponed! Will see how the market is gona react!

cse1981

cse1981
Manager - Equity Analytics
Manager - Equity Analytics
Thanks Very Happy
Now market red

bullrun

bullrun
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
No Government agencies are properly worked without the intervention by the H.E. President. I know a lot of you hate Mahinda Chnitana. However, you can get a solution if and if only he intervene to this matter too just like happening everywhere.
We can convince him either to allow broker credit or to arrange margin with intuitions.

JennyFunny


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Market is gonna crash..if we go like this

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Genting wrote:
@windi5 wrote:Next week i think. normally they meet on Wednesdays. they need more time to study broker proposals .

They knew what brokers were proposing for some time.
Seems like they have gone to the meeting without doing any analysis. That's why they ask for more time.

This shows SEC's incompetence again!

Moka munwa path karada danne ne?

I am totally agreed with u.Furthur more it they really want time they can withhold that rule till their next meeting.I think real reason for this some big fellows may be waiting for bargain hunting.

Soundchips


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Favorable division might come after monitoring within certain limits...... it is not an easy decision for any government...

nahor


Equity Analytic
Equity Analytic
Like our friend genting says, why the hell did they have the meeting without the proper information in the first place ? They should have gone into this meeting with all available info and then made a decision based on that without further delay.

duke


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I think it's a conflict between doing the right thing and doing what is popular. I think some forward thinking people are reluctant to do the popular decision for short term gains. Taking the right decision will not make someone popular but will be good for in the long term. But taking the popular decision will make you hero for sometime but ruin everyone in the long term. But in Sri Lanka usually popular decision usually wins.

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
There should be a proper methodology to do anything.Otherwise even with very good intention u can destroy everything.As an example see how the good intelligent parents grow up their child.They use proper methodolgy.Otherwise child can not understand their parents and he/she may think on parents as enemies.Good intention is very important but proper methodology is the secret of achieving that intention.SEC may be lack with this methodology or they may have more interest on HNWIs.

ඇත්තට නිදි මිනහා අවදි කරන්න පුලුවන්ලු....ඒ වුනාට හොරට නිදි මිනිහා අවදි කරන්න බැරිලු...

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@duke wrote:I think it's a conflict between doing the right thing and doing what is popular. I think some forward thinking people are reluctant to do the popular decision for short term gains. Taking the right decision will not make someone popular but will be good for in the long term. But taking the popular decision will make you hero for sometime but ruin everyone in the long term. But in Sri Lanka usually popular decision usually wins.

As Sri Lankans, taking popular decisions is in our blood. I hope SEC is strong eough to say no to all these broker huts.
If they desperate for credits then SEC should allow less than 25% credit facility to investors who have really good track records.
Siri Lankawe api, "kanna denawa num bonna denawa num wena mona kengediya da thawa oney kiyanne"

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
@duke wrote:I think it's a conflict between doing the right thing and doing what is popular. I think some forward thinking people are reluctant to do the popular decision for short term gains. Taking the right decision will not make someone popular but will be good for in the long term. But taking the popular decision will make you hero for sometime but ruin everyone in the long term. But in Sri Lanka usually popular decision usually wins.



SEC might take a decision when the broker firms show some discipline, ......when they prove that they can attract new investments and when they demonstrate that market can maintain a sustainable growth then they might relax. ......They say that they are monitoring and considering favourably. .......SEC has at least taken up this issue without telling that no credit at all... investors and brokers have to demonstrate that it is worth giving some of those benefits……

Smile Smile

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
@UKboy wrote:
@duke wrote:I think it's a conflict between doing the right thing and doing what is popular. I think some forward thinking people are reluctant to do the popular decision for short term gains. Taking the right decision will not make someone popular but will be good for in the long term. But taking the popular decision will make you hero for sometime but ruin everyone in the long term. But in Sri Lanka usually popular decision usually wins.

As Sri Lankans, taking popular decisions is in our blood. I hope SEC is strong eough to say no to all these broker huts.
If they desperate for credits then SEC should allow less than 25% credit facility to investors who have really good track records.
Siri Lankawe api, "kanna denawa num bonna denawa num wena mona kengediya da thawa oney kiyanne"


Yes 25% percent is a good figure. That is some thing any body can settle without any difficulty...throwing stones and mud is not the way to achieve those things ...prove that it is worthy. Then they may give 50% or more…

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Aamiable wrote:
@UKboy wrote:
@duke wrote:I think it's a conflict between doing the right thing and doing what is popular. I think some forward thinking people are reluctant to do the popular decision for short term gains. Taking the right decision will not make someone popular but will be good for in the long term. But taking the popular decision will make you hero for sometime but ruin everyone in the long term. But in Sri Lanka usually popular decision usually wins.

As Sri Lankans, taking popular decisions is in our blood. I hope SEC is strong eough to say no to all these broker huts.
If they desperate for credits then SEC should allow less than 25% credit facility to investors who have really good track records.
Siri Lankawe api, "kanna denawa num bonna denawa num wena mona kengediya da thawa oney kiyanne"


Yes 25% percent is a good figure. That is some thing any body can settle without any difficulty...throwing stones and mud is not the way to achieve those things ...prove that it is worthy. Then they may give 50% or more…

25% or 50% or in between that what it should be avoided is force selling on T+5.If anyone is not worth for credit credit should not be given....But offering it and then force sell on T+5 is nonsense.

At the sametime we can not compare bank loan with broker credit.Broker credit is given only to buy shares and brokers can completely observe it and If broker want they can sell the shares and recover the debt.

But bank loans are different....When we consider the personal loans banks must be very strict with assessing worthiness.Of course there are property loans,vehicle loans,housing loans,etc which are given for definite purposes(like broker credit for buying shares) but in those loans also wothiness should be thoroughly assessed as it is not easy to recollect the debt even with mourtage.In share market brokers can easily sell the shares and recollect the money.So if brokers want to asses the worthiness it should be in a different manner.

SEC should have a proper monitoring system to check whether brokers follow the rules(definitely not this T+5 day rule.)

Tiger

Tiger
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Can anybody enlighten the practice in other countries regarding broker credit and margin trading. I hope the SEC decision could be more in line with best practice rather than Sri Lankan practice.

Genting


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Here is my proposal for Credit Issue and T+5

1) Give credit up to 100% until T+3, and if its not settle on T+3, force sell 50% on T+5 and charge a fine.
2) Give credit up to 25%-50% of portfolio value and charge interest of 2% per month, calculated and charged on daily basis after T+3.
3)The credit limit is decided by the broker depends on the credit worthiness

JennyFunny


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Good point Tiger..

JennyFunny


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@ Genting i commented on your topic..
From the above 3 Options
Option 2 is my choice..

Genting


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
SanjivFund - thanks for the support

2% for month is a high rate. If people being charged with a high interest rate for their unsettled credit, it will discourage people getting credit for long time. Then it will automatically reduce the credit issue without force selling.

JennyFunny


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Tiger..Basically how it works is Brokerages offer 2 types of facilities for stocks.
1)Cash Account
2)Margin Account

This way if you want to trade on margins(good for day trading)then you have to have a Margin Trading account..and the minimum balance is generally higher than a Cash Account.
Whenever the price of a stock falls,which results in Margin Calls.
Most brokerage..90% are quite strict on payments even at the cost of the client..

Happy Trading

JennyFunny


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Genting..exacltly..
The interest to be charged can be debated and calculated if something like this implemented..but the essence is that a high rate will eliminate trading on margin..

JennyFunny


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Guys just out of curiousness who is in favour of Credit being allowed & who is not?
Just say Yes/No

Happy Trading

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