For DBS Vickers, what will happen if I select SELL CONTRA instead of SELL order?

Contra trading is buying and selling of the counter (within 3 days) to profit from the difference in price.

If you own the stock (bought beforehand) and selected 'Contra', it will be the same as selling.

However, if you do not own the stock and want to sell, it would be short selling. Short selling is legal in Singapore but a has tedious process to be followed.

• ** Requirement 1: Disclosure of Short Sell Orders to SGX **

• Requirement 2: Reporting of Short Positions to MAS*

SGX will levy penalties for settlement failures under the CDP Clearing Rules. Best to retract the order.