Please be informed that Citic Securities Co Ltd (6030.HK) is undergoing a renounceable rights issue of 1.5 for every 10 existing shares.
We will be catering for the rights for LONG position only.
Subscription of rights are NOT allowed.
Ex-date: 26th January 2022 (Wednesday)
The Rights trading period: 11th February 2022 (Friday) to 18th February 2022 (Friday)
For LONG clients who are intending to hold their positions past the ex-date and be entitled to the rights, we would like to highlight the increased risk of a margin call between the ex-date and the rights trading date.
Clients will still be subjected to standard margin call procedures. Rights counter would have the same margin as parent counter (30%).
Citic Securities rights CFD will be reflected in your CFD account on the second day of rights trading (ie, on 14th February 2022, Monday).
There will not be any conversion of the rights and as such all clients MUST sell their rights during the rights trading period. Otherwise, the rights will lapse and be closed off at a traded price of zero.
Liquidation of your rights will be done on a phone-only market order basis.
Commission is chargeable for the liquidation of the rights at the commission rates similar to Citic Securities (6030.HK) under CFD.
Finance charge for the rights will not be chargeable.
If clients do not wish to be subjected to the corporate action, clients need to close off the position by 25th January 2022 (Tuesday), before HK market closes.
Updated 18th January 2022, 11:10am
Following Phillip Securities Pte Ltd’s review of the prevailing interest rate environment, we would like to inform that changes in negative interest on credit balances in YEN & EUR currency will apply with effect from 1 February 2022 on all CFD accounts as follow:
|Currency||Negative interest rate on Credit Balance
|Negative interest rate on Credit Balance
|YEN||0.35% p.a.||0.50% p.a.|
|EUR||0.35% p.a||0.50% p.a.|
Please be informed that rates are subjected to change from time to time without prior notice.
Updated 6th Jan 2022, 2:15pm
Please be informed that MapleTree Logistics Trust (MLT) is undergoing a non-renounceable rights issue of 37 per 1,000 existing shares. The ex-date is 30 November 2021, Tuesday.
Phillip CFD will be catering for the rights for LONG positions only.
For clients with LONG positions who have held your positions past the ex-date and intend to subscribe to the rights, you or your Trading Representative will need to email Phillip CFD at email@example.com to indicate the quantity you intend to subscribe before 9th December 2021, 9am. There will be no over subscription of rights.
The new CFD position from the rights subscription will be created in your account at the subscription price on pay date. Clients will need to ensure there is sufficient funds in their CFD account to support the margin required for the new position on pay date to avoid any margin call/deficit.
We will post further updates if there are any changes on the rights issue above.
Updated 26 November 2021, 16:55pm
In order to answer more in-bound calls into the CFD Operation team, please be informed that CFD Operations will not be calling Trading Reps for the settlement of CFD Margin Call effective from Monday, 30th March 2020.
However, Trading Reps will still be receiving email with the subject header “CFD – Margin Call report” as per usual. Please be mindful that partial settlement / no settlement of margin call will result in force-selling on the stipulated time without any further notice.
For any margin call enquiries / settlement, please direct your emails to CFDOPS@phillip.com.sg.
In accordance to new regulations introduced by the Monetary Authority of Singapore (MAS), all clients who wish to continue trading CFDs will be required to do a one-time acknowledgement of the Risk Fact Sheet provided by PSPL.
From 8th October 2019 onward, you will not be able to place any new CFD orders until you have acknowledged the Risk Fact Sheet. Please acknowledge the Risk Fact Sheet as early as possible to prevent any disruption to your trading activities.
The Risk Fact Sheet can be acknowledged online through POEMS 2.0 by following the steps below:
1. Login to POEMS 2.0
2. Go to Acct Mgmt > CFD > RFS & RDS
3. Read through and acknowledge at the bottom of the page
For joint account holders, both account holders will be required to acknowledge the physical copy of the Risk Fact Sheet separately and email the scanned copy to firstname.lastname@example.org. Please indicate your joint account number on the top right corner. The Risk Fact Sheet can be downloaded here.
Force-Closure of Short Sell Positions:
When you are short-selling, you are at risk of having your position forced-closed if our borrowed shares are recalled by the lender. For more information, please refer to our Terms and Conditions, Section 7 “Market Disruption, Suspension of Trading, Delisting of Underlying Financial Instrument or Closure of Hedge Position”.
Maximum Order Size:
Do note that any limit order for Equities CFDs submitted at prevailing market bid/ask prices exceeding the following limit(s) might be rejected or delayed subject to our approval:
Shares CFD (whichever has a lower contract value)
1) Maximum quantity per order: 500,000 shares
2) Maximum contract value per order: S$300,000
DMA CFD (whichever has a lower contract value)
1) Maximum quantity per order: 500,000 shares
2) Maximum contract value per order: S$500,000
It is therefore highly recommended for you to split large orders into multiple smaller ones for submission.
Please do so by 10:00am for the funds to be credited on the same day. (Only applies for Cash Trading Account)
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