Hi all,

I have a scene and question asked by a friend just now,
but unsure how is it to solve, therefore seeking some advise.
As he had gone to China for urgent meeting today,
and be returned on Sunday night.

Situtation :-

1. Supposing on 7 Nov (Wed), a new beginner buys 1 lot of share ($0.55) via internet trading .

According to the FAQ on POEMS website all payment have to settle by T + 3.

Thurday (8Nov) is Singapore public holiday,
Friday (9Nov) is normal working day.
Saturday(10Nov) - Weekend
Sunday (11 Nov) - Weekend

The question is,
the lastest day this person have to do the payment is
actually on Sunday (11Nov), or Tuesday (13 Nov) ?


2. And supposing, if on Monday (12 Nov), he wants to
sell off this 1 lot of share at $0.50 .
Understanding it is a lost for this case yet want to sell.

How much is needed to pay at the end, considering in
the case 1,if the T+3 is to be paid by 13 Nov,
as well as considering the whatever fee and GST in
too ?


Thanks.

Hi,
Can i ask what's e difference between contra payment n non-contra payment? I only know both is T+3

thanks

from what i know, there's only payment

contra settlement is when the brokerage settles whatever balance is leftover when you close your contra position. E.g. if you buy a stock on T, and you sell on T+2, and make $2000, then your contra settlement is $2000.

i get it now. Thanks you.