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Thanks for the advice!
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Elijah Lee
30 May 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
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Hi, DBS Vickers doesn't hold any stocks. Its CDP linked thus all purchases will go to CDP directly.
I believe what you meant is during the T+3. It takes 3 days for the settlement of the trade. Means that if you buy on Monday, you will see the stocks on Thursday.
If you want to sell your stocks on Tuesday, it should be fine since T+3, the stocks will only be deducted on Friday. Thus you are still 'safe' as you will get the stocks in on Thursday.
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Hi Ahbik,
Yes you will be able to buy and sell stocks before it is actually credited to your CDP account on T+2 after your initial buy. Make sure the sell transaction completes before the crediting. This is known as contra.
You will only need to pay the difference if you lost money (after brokerage/fees). If you made money, you will be credited your profits after brokerage/fees.