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Payment of Shares via EPS

November 29th, 2012 No comments

Instructions on EPS payment:

ATM Payment (Example)

• Insert ATM card
• Key in your PIN
• Select “Electronic Share Payment”
• Select Lim and Tan Securities Pte. Ltd
• Select “Payment by Lump Sum”
• Key in Contract Number or Amount to pay
• The system will display Lim and Tan Securities Pte. Ltd, your
trading account number (or if required, please key in your trading
account number, and the amount for your confirmation.)
• Upon confirmation, your account will be debited with the amount.
• Collect the receipt and safekeep as record

For internet banking, here’s the general procedure:

• Log into your internet banking account
• Select Payment Services
• Select Bill Payment / Electronic Payment for Shares
• Select “LIM & TAN SECURITIES” as your Payee
• Select which of your related account to Pay From
• Key-in the required amount
• When asked for Consumer Reference No, key in your account number
(if required, add a zero in front)
• Choose immediate payment.
• Click submit.
• Complete the rest of the procedure.

Note: The above information are meant to be factual and strive to be accurate. Should any mistake be spotted, please inform us.

Lim and Tan Reward Points

Following is a common question that is being asked on LimTan Reward Program:
Question: Could you please let me know how does the Lim Tan reward system work?
Answer: For every dollar of brokerage incurred, depending on the program that you opted for, you will either get 1 reward point or 5 LinkPoints.
Based on current promotion (as of end Jun 2012): 8888 link points is equivalent to about $60 (every 1500 link points equivalent to $10 Ntuc voucher) . LimTan Rewards Points of 1760 is equivalent to $88.
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Buy-In Rule on The Singapore Equity Market

"The following apply to the Singapore Exchange (SGX) mainboard and Catalist (SGX junior board Sesdaq transformed into a new outfit on 17 December 2007 and renamed Catalist).

Trade Date (TD) : Date the shares are sold.

  • Should a seller have insufficient shares for delivery as at noon on T+3, CDP will conduct buying-in on that afternoon to fulfill the seller’s delivery obligation.

Settlement Date (SD) (aka Due date): * Trade date (TD) + 3

  • Date the shares are debited from your account.
  • If shares were not available on TD (see above), SGX will automatically buy in for you.
  • The initial price is set at 2 tick above SD (TD+3) close or market price at TD+4, whichever is higher. The price will be continually increased until a seller is found.
  • The buy-in will be subjected to a brokerage commission of 0.75% levied by SGX plus additional fees and taxes.

Note: Any long position after TD will be a new contract. It cannot be used to cover your short position."

~ Source: Wikipedia

Do note that on top to the 2 ticks above price and the 0.75% additional fees and taxes, there is also a flat SGD75 buy-in fee (+GST) imposed by SGX.

Related Post: SGX Improves Securities Settlement

Note: The above information strive to be accurate at the time of posting. Do check with your broker and refer to SGX website for latest updates.


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