Remisiers Are Singapore Low Income Earners Averaging $800 - $1000 Per Month

[greengiraffe]

Subject: The Time Has Come : Remisiers Are Singapore Low Income Earners Averaging $800 - $1000 Per Month.......

Financial Scene In 2011-2012......

It is reported, finally, in the ST that all is not well in the stock market. For a particular month, many remisiers were earning less than $1000 in commission. This is nothing better than the cleaners in the foodcourt. And in a normal month, many are raking less than $2000. What are the implications?

It is not simply a dying profession for the remisiers. The broking houses need the commission to pay its staff or they too will have to close shop. The green eye monster has done its job well to kill this industry that once was a roaring business and supporting many other businesses in one way or another. The drastic changes in turning a stock market into a casino drove the final nail into the coffin.

The volume of trading appears to be high but simply fictitious in a way, generated by computers for brokerages or trading houses, house trades that bear no commission. The real participation of traders, retail and institutions too is dwindling and drying up.

The state of health of the market is best seen by good stocks being delisted as their real values are higher than the stock values in the market. It thus does not make sense for good companies to waste their time and paying fees to be listed. And with so many penny stocks, 1c or less than 1c stocks in the main board, it simply says something is embarrassingly wrong.

Surely the people responsible for ensuring a healthy and viable stock market know what is going wrong and how to put it right. They are not paid in the millions for nothing. Once the stock market is crippled, with remisiers and supporting staff quitting the industry, with brokerages shrinking and folding up, the damage is very difficult to repair. There will be a loss of confidence and a fleeing of funds. The offices in the financial district could go empty and rentals will slide as well.

The job loss in the industry is insignificant to the demise of a stock market and the finance industry. Make no mistake about it. The numbers don’t lie. The market and the associated businesses are going kaput while millions are being paid and there is still no light at the end of the tunnel.

[cfa]

Some delisted here and relist in HKSE.

[Bibi]

Low pay still ok. Its not a difficult job i think. Its a high risk job where your customer can run road especially foreigner and PR when they owe huge amt of money due to trading failure. Those pp have nothing to lose. Just return to their homeland. Remisers on the other hand, have to pay up on their behalf.

[greengiraffe]

I have been there and done that. Client evaluation and protection is paramount years back when I was in the trade. I have always been telling my friends - give good advice and educate clients so that they survive the confusing game.

Anyway being a remiser is no longer a glamorous job. Being a valuebuddie on the other hand may actually be the way forward.

Low pay still ok. Its not a difficult job i think. Its a high risk job where your customer can run road especially foreigner and PR when they owe huge amt of money due to trading failure. Those pp have nothing to lose. Just return to their homeland. Remisers on the other hand, have to pay up on their behalf.

[piggo]

The article make it sound like online trading = low commission = no remisiers = no finance industry. If that's the case, New York (where commissions are much lower than SG brokerages) wouldn't be the finance capital of the world. In reality low commissions reduces the frictional costs of trading, making it a more efficient market to the benefit of all.

[CY09]

A few thoughts to the article:

1) the article mentions only less than 1k in commissions. That means there is a fixed component which was factored in it.
2) Could there be simply an oversupply of remisers in the industry in Singapore.
3) many remisers do have a second job scope which is to do trading as well. Is that factored into their income as well?

[KopiKat]

A few thoughts to the article:

1) the article mentions only less than 1k in commissions. That means there is a fixed component which was factored in it.
2) Could there be simply an oversupply of remisers in the industry in Singapore.
3) many remisers do have a second job scope which is to do trading as well. Is that factored into their income as well?

1) Those who are paid a small fixed component are known as Dealers, they work for the Securities house. Remisiers are working for themselves and even have to pay the Securities house for 'rental' of their office space and other facilities.

2) Online trading was the main game changer. Even as near as some 20+ years back, it was still a rather lucrative job and I needed a referral before I was able to get a remisier / dealer to open my account...

3) I agree with that. Those remisiers I know who got into this job in recent years, are mainly motivated by the almost zero transaction fees when they trade for themselves.

[Temperament]

To succeed as a remisier or in -house dealer, their clients from the smallest to the biggest must also be carried along to success. IMO.
From my/(most of us, i believe) experiences, kacheem puteh investors are at the short end of the sticks (services). So i used Poems phone to invest for sometimes because i were still working. For better for worse, i am in complete control. That is not to say there are no old timers (investors) who stick to their old timer remiseirs. i know one or two distant relatives or relatives friend's mother who are very old remisiers. They have their group of old faithful investor clients. But they sort of semi-retired and not keen to take in new clients.
Nowadays, most remisiers are traders themselves 1st, clients are secondary sideline income. Anyway i give up on them longtime ago. That was the time i paid very heavy learning fees about the market and i had learned nothing from them. Except a little (his indirect remarks) from one Edmond ....? who was the Chief of the Remiseir Association at that time.

[sgd]

I don't believe Remisiers earn so little and neither do I think it's a dying trade. There are some folks like me that will still prefer to trade thru a broker. I feel being a remisier is a high risk profession, good stable clients may not buy a lot so commission earn could be less, high risk appetite clients may trade a lot commission is high but they could also run away when things turn bad leaving you to deal with the mess.

In a broking house there are usually 2 separate trading system, one is for the internet trading that the public uses the other is dedicated only for their in house brokers. Online trading can be cheaper compared to calling up a broker but all technology have their limitations during hot markets you may not even be able to get a trade done due to high volume network traffic but there's nothing easier for me to pick up a phone to call my broker get the trade done.

I'm type of person who believe in quid pro quo way of building relationship with people I work with. If you trade online all the time to save a bit of money during hot market you need help but dunno anybody, they also dunno you and you all never do business together in the past expect people to help you when you need it but other times don't even care about them? Then expect to get the cold shoulder and wait one corner long long bah

[Temperament]

To each of us, we all live and react in accordance to our experiences (one's own mental images) . We can only say things about ourselves and not for or about others. Your friend may be my enemy. And your enemy may be my friend. IMO
Shalom