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(06-10-2013, 10:20 PM)oys-ter Wrote: (06-10-2013, 08:04 PM)CY09 Wrote: If you had shortsold on Friday, SGX will force buy for you at 9am if I am right.
For those who contraed, it gets a bit complicated. I think they will get their stock but they can only sell it when the security is under their name. And if they cant pay the contract value, their remisiers who had given them the extra credit are likely to grant them a grace period (more than T+2) to let them settle the value of the contract. So we may see a Pop up at the first min of trade and the next few days, there will be a bit of flux in the volumes/prices
Buy-in by SGX will occur on T+3 which is 9/10 wednesday for those who shorted and cannot find share to deliver. SGX will not buy back the share from the open market.
If SGX not going to buy back from the open market, where else can SGX buy back from ?
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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SGX will not buy back share from open market because shares purchased from the open market can only be delivered on T+3. SGX will buy back the share only in the buy-in market.
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This morning Blumont has fallen again, and is now trading below $0.30 level only!!
What are the lessons learnt from this counter ?
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(06-10-2013, 10:54 PM)oys-ter Wrote: SGX will not buy back share from open market because shares purchased from the open market can only be delivered on T+3. SGX will buy back the share only in the buy-in market.
Sorry one last question ; Where can we see this buy-in market, who can participate. Many thanks for your sharing.
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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(07-10-2013, 09:11 AM)cfa Wrote: (06-10-2013, 10:54 PM)oys-ter Wrote: SGX will not buy back share from open market because shares purchased from the open market can only be delivered on T+3. SGX will buy back the share only in the buy-in market.
Sorry one last question ; Where can we see this buy-in market, who can participate. Many thanks for your sharing.
need to have free balance in your CDP. Have to sell thru broker (not online) in the buy-in market. which open around 11am..
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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can buy can keep some? any buddies' advice ?
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13cts. So interesting.
I wonder whether the 15k to million investor had exited his investment. What a ride.
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