Please be informed that SATS is undergoing a renounceable rights issue of 323 for every 1,000 existing shares with ex-date on 01st March 2023, Wednesday.
We will be catering for the rights for both LONG position only.
Subscription of rights are NOT allowed.
The Rights trading period: To be confirmed.
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.
For Short clients, they will need to liquidate the position before 3pm on 28th February 2023, Tuesday.
Otherwise, force-liquidation will be conducted on those short positions.
Clients will still be subjected to standard margin call procedures.
SATS rights CFD will be reflected in your CFD account on the second day of rights trading (exact date to be confirmed).
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 SATS under CFD.
Finance charge for SATS rights CFD will not be chargeable.
If clients do not wish to be subjected to the corporate action, clients need to close off the position by 28th February 2023, Tuesday, before SGX market closes.
Updated 22th February 2023, 4:50pm
Please be informed that Tencent Holdings Ltd is undergoing a Spin-off of 1 Meituan Class B Share for every 10 existing Tencent Holdings Ltd shares with ex-date on 5th January 2023, Thursday.
We will be catering for the Spin-off for both LONG and SHORT positions.
For LONG clients who are intending to hold their positions past the ex-date and be entitled to the Long Meituan CFD contracts at a price of $0 , we would like to highlight the increased risk of a margin call between the ex-date and the Pay date.
Clients will still be subjected to standard margin call procedures.
Meituan CFD contracts will be reflected in your CFD account on Pay date (24th March 2023, Friday).
For SHORT clients who are intending to hold their positions past the ex-date, clients will be credited Short Meituan CFD contracts on ex-date at the price of $0.
If clients do not wish to be subjected to the corporate action, clients need to close off the position by 4th January 2023, before HKEX market closes.
Updated 29th December 2022, 9:00 am
Phillip CFD will be revising our finance charges for some of our products. Please take note that these new rates will be effective from 27 December 2022 (Tuesday) with the exception of SG Equities CFD and SG Equities DMA CFD rates which will be effective on 9 January 2023 (Monday). The new rates are:
Phillip CFD will be revising our interest on credit balance. Please take note that these new interest rates will be effective from 1 December 2022 (Thursday). The new rates are:
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 currency will apply with effect from 1 December 2022 on all CFD accounts as follow:
| Currency | Negative interest rate on Credit Balance
(Existing) |
Negative interest rate on Credit Balance (NEW) |
| YEN | 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 1st Dec 2022, 9:30am
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 cfd@phillip.com.sg. 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.
