Beginner’s guide to investing in stocks in Singapore: everything you need to know
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However, nothing in this Clause implies that the Client's orders have not been executed if the Client, for whatever reason, does not receive confirmations of such orders. The allotment or distribution of any securities, monies or other property pursuant to such order aggregation to or amongst the Client and KES's other customers shall be at KES's sole and absolute discretion, and KES may also effect such transactions as principal to the counterparty in such jurisdiction.
The Client therefore agrees that partial or incomplete provision of information and answers may be disregarded by KES and he may be treated as having refused and provided no answers or information.
Where the Client has provided KES full information and answers, it shall also be his obligation to keep such information current and accurate, failing which KES is entitled to assume that the information and answers provided remain complete and accurate.
Where the Client has failed or refused or deemed to have failed or refused to provide KES with any information or answers as requested then he will also be taken as having acknowledged and KES will be regarding and materially relying on him having acknowledged that KES cannot identify with any certainty his investment objectives, financial circumstances and particular needs and therefore he agrees that any advice or recommendation provided in respect to his account with KES by any of KES, online option stock trade trading singapore ke duly authorized representatives or officers shall online option stock trade trading singapore ke treated as at best only as general advice or recommendation and it is acknowledged and agreed that such advice does not take into account and may not be suitable for online option stock trade trading singapore ke investment objectives, financial situation and particular needs.
An advice or recommendation is to be regarded as having been given on an unsolicited basis online option stock trade trading singapore ke it is given otherwise then in response to the Client's query or request. Please note in relation to the preceding that no trading representative has any authority to give any advice or make any recommendation on KES's behalf or on KES's account unless specifically online option stock trade trading singapore ke to do so by a duly authorized officer of KES.
In any other case, the trading representative if he gives any advice or recommendation to the Client must be assumed and accepted as having given the same without authority from KES in his own personal capacity.
The Client also agrees in connection with the foregoing that no compensation will be payable to the Client in connection with the exercise of KES's rights hereunder and that KES is the sole beneficiary online option stock trade trading singapore ke any fee or commission that KES may earn from any exercise of KES's rights under Clauses 4.
For the avoidance of doubt, KES reiterates that KES shall not be obliged with respect to any of the Client's securities or other property to retain the same in its possession or control being entitled to treat all of the same as fungibles or to retain for the duration of the Client's account with KES like securities or other property of equivalent amount.
The Client acknowledges and confirms that it has read and understood the terms set out in this Clause 4 and also that the risks involved in agreeing to this Clause 4 had first been explained to the Client which risks include but is not limited to: In its place the Client has a right to claim for equivalent securities from KES; and 4. The Client confirms and consents that KES's right to lend or on-lend the Client's securities include also the right on identical terms to arrange for a custodian to effect such lending or on-lending for the benefit of KES as if KES had effected such lending or on-lending.
The Client shall be the sole authorised and exclusive person using the ID and shall be fully responsible for the use protection and confidentiality of the ID as well as all transactions executed through the ID. KES shall not be responsible for any loss, damage, cost and expense in respect of or in connection with the Client's failure to maintain the confidentiality of the ID.
KES reserves the right to amend modify suspend or terminate the operation of KE Trade at any time for any reason whatsoever and in any manner it deems fit, without online option stock trade trading singapore ke any prior notice thereof to the Client and without being responsible in any way for any loss or damage whatsoever resulting therefrom.
The trading in securities through KE Trade shall be subject to: The Client accepts that access and use of KE Trade will not necessarily be free from faults errors delays or defects in KE Trade's applications systems design and engineering.
If in the opinion of KES, any failure interruption error defect in, misuse of, impairment or corruption of KE Trade is or has been or is likely to be caused by any equipment or software of the Client, KES may: Definitions In this document and in any other agreements entered into between KES and the Client, unless the context otherwise requires, the following terms shall have the meanings set out hereunder: Ancillary agreements referred to in online option stock trade trading singapore ke Confirmation are part of such Confirmation; and " securities " shall include but is not limited to debentures, stocks, shares, bonds, notes or certificates of deposit whether listed or non-listed or traded in Singapore or elsewhere issued by a government, a body corporate or unincorporate, or international body, or any right or any derivative instrument including any online option stock trade trading singapore ke, option, transferable subscription right, loan stock and convertible right in respect of any such debentures, stocks or shares.
Account Opening Upon its acceptance of an application by the Client to open an Account, KES shall, in accordance with its general operating procedures, open an Account in the name of the Client upon which the Client may effect transactions in securities or other permitted financial products.
Single Agreement All transactions on any Account are entered into in reliance on the fact that this Agreement, all outstanding transactions and to the extent recorded in a Confirmation, and each such Confirmation shall form a single agreement between KES and the Client and KES would not otherwise enter into this Agreement and any such transactions.
However, a transaction which is duly settled or liquidated in accordance with its terms will not form part of such single agreement. No Right to Encumber Account The Client shall not without the prior written consent of KES assign, charge or encumber any Account or the Client's rights therein, or create or permit to create, in favour of any person other than KES any interest in any Account by way of trust or otherwise.
KES shall not be required to recognise any person other than the Client as having any interest in any Account. Instructions and Orders a The Client authorises KES to rely and act on, and treat as fully authorised by and binding upon the Client, any order instruction or communication by whatever means transmitted and whether or not in writing which purports to have been given and which is reasonably accepted by KES in good faith as having been given by the Client or on his behalf by any person, without further enquiry on the part of KES as to the genuineness authority or identity of the person giving or purporting to give such instructions and regardless of the circumstances prevailing at the time.
The Client agrees that it shall be responsible to KES for all engagements indebtedness and any obligations made or entered into in the Client's name whether in writing or orally, and howsoever communicated or purported to be given in the manner above.
KES shall have the discretion to refuse to accept or act on any instructions or requests of the Online option stock trade trading singapore ke without having to assign any reason for such refusal and KES shall not be liable for any loss damage cost and expense incurred by the Client as a result of such refusal.
The record or recollection of any of KES's officers employees or agents receiving oral instructions from the Client is conclusive against the Client as to the contents of such oral instructions. All payments shall be made without deductions or withholding for or on account of any tax duty or levy. If KES is obliged to so online option stock trade trading singapore ke or withhold, the Client shall pay such additional sums to KES in order to ensure that the net amount received by KES shall be the full amount properly due to KES had the deduction or withholding not applied.
So long as KES uses reasonable care in the selection of such brokers, KES shall have no online option stock trade trading singapore ke or responsibility referable to any default or negligence of such foreign brokers.
Notwithstanding that as between the Client and KES, KES is in fact the agent of the Client in using the foreign broker to carry out the Client's orders, KES may have to accept sole and principal responsibility to the foreign broker for the executed online option stock trade trading singapore ke.
Accordingly the Client shall indemnify KES against any and all loss damage cost or expense suffered or incurred by KES arising from or in connection with carrying out the Client's orders, and actions which KES deems in good faith necessary to ensure that KES will not be in default of its principal obligation or responsibility or to contain or minimize its loss.
The Client acknowledges that if the Client chooses to effect payment or to deposit securities by delivering a online option stock trade trading singapore ke or securities to his trading representative, payment or deposit of the securities shall be deemed to be made only when KES receives the cheque or securities from the trading representative and not when the cheque or securities are delivered to the trading representative.
The Client agrees that in the event where payments are made prior to the date for settlement of purchases, KES shall deposit such amounts into the Client's trust account and shall not withdraw any monies from such trust account except for the purposes stipulated in Regulation 21 of the Securities and Futures Licensing and Conduct of Business Regulations KES may, for the purpose of depositing online option stock trade trading singapore ke or securities received on account of the Client which are denominated in a foreign currency in a trust account, maintain a trust account with a custodian outside Singapore which is licensed, registered or authorised to conduct banking business in the country or territory where the account is maintained.
The Client acknowledges that KES may place monies received on account of the Client in an omnibus customer trust account together with monies that KES holds for other clients. As such the Client further acknowledges that it would be administratively and operationally difficult, if not impossible in view of the constant fluctuation of the aggregate balance in such accountto account separately for each of KES's clients the interest due on their cash balance in the omnibus account as interest will be received on an aggregated basis.
In any event, it is also acknowledged and accepted that such an exercise would be likely to cost more than any interest earned. In these circumstances, it is a condition that online option stock trade trading singapore ke Client waives and relinquishes in KES's favour all claims for interest that may otherwise accrue with respect to the Client's said monies received by KES on the Client's account. The Client consents that KES may hold monies received on account of the Client on trust in the forms of investment stipulated in Regulation 20 of the Securities and Futures Licensing and Conduct of Business Regulations The Client acknowledges that any securities belonging to online option stock trade trading singapore ke Client which are deposited with KES may be held with securities held by KES for other clients on an aggregate or omnibus basis.
This may in some instances result in prejudice to the Client and the Client accepts and consents to this. E xcess Funds The Client acknowledges that as a general rule excess funds of the Client unless title transferred in favour of KES will be held commingled with excess funds of other clients also not title transferred in favour of KES of KES in a trust account in accordance with the provisions of the Securities and Futures Licensing and Conduct of Business Regulations The Client hereby grants KES the authority at its discretion to pool any excess funds in the Client's trust account with those of other KES's clients and at its further discretion to place such funds with either an interest-paying institution or with a fund manager for management with intent to enhance returns on such excess funds by way of investing the same in money market funds.
The Client acknowledges that such placement is at KES's discretion and KES shall have no liability or responsibility if no such placement is made and so long as a placement is made in good faith. As the returns from the funds placed will be returns on a fluctuating amount, it is neither practical nor feasible to calculate the amount pro rata due to the Client and thus the Client accordingly agrees to waive entitlement to claim the returns actually due to the Client's amount of excess funds in return for KES paying the Client out of the overall returns from the funds, of which the Client's excess funds is a part of, the returns as KES in good faith deems appropriate.
It is KES's objective to try and ensure that the Client receives a return that is at least equivalent to the average interest payable on savings accounts at local banks in Singapore or any other rates as may be decided by KES from time to time but KES shall not be liable if for any reason the said overall returns is not, in KES's good faith determination, sufficient for KES to pay each of its clients including the Client the minimum online option stock trade trading singapore ke that it is KES's said objective to try to pay to the Client out of the same and KES only pays out to the Client a lesser sum or no sum at all by way of interest.
I nterest The Client agrees to pay interest online option stock trade trading singapore ke all sums due to KES after as well as before judgment at such rate s of interest as may be determined from time to time by KES, and whether or not prior notification thereof has been given to the Client.
Foreign currency denominated accounts eg. Interest shall accrue on a daily basis on a day year or day leap year for all outstanding sums due from the due date to the date of full payment.
Set-off KES shall be entitled, without prior notice to the Client, to set-off any debts liabilities or amounts owing by the Client against any amounts due to the Client or any monies held on behalf of the Client or to which the Client is beneficially entitled including any monies held on trust or online option stock trade trading singapore ke collateral or in the trust account for the Client whether the debts are actual or contingent and irrespective of any differences in currency. KES shall be entitled to effect such currency conversions and at such rates of exchange as KES may in its absolute discretion deem necessary or appropriate in order to effect such set-off.
KES shall be entitled at any time and without prior notice to the Client to retain apply sell or dispose of all or any of the Client's Property if any such obligation or liability is not discharged in full by the Client when due or on demand in or towards the payment and discharge of such obligation or liability, and KES shall be under no duty to the Client as to the price obtained or any losses or liabilities incurred or arising in respect of any such sale or disposal.
Charge a As a continuing security for the payment and satisfaction on demand of all monies and liabilities and the performance of all obligations hereunder which are now or any time hereafter may be due, owing or incurred by the Client to KES, the Client hereby charges to KES, free of all encumbrances and adverse interests, by way of first fixed and equitable charge of all securities which are online option stock trade trading singapore ke have been deposited with or are held by KES or its nominee, by way of a first fixed legal mortgage all securities, the title to which has been transferred by the Client or its nominee to KES or its nominee, in each case, including dividends, rights, monies or property accruing in respect thereof.
Representations And Warranties The Client represents, warrants, agrees and undertakes that: Service of documents and notices Any documents and notices served on the Client by KES may be in writing and addressed to the Client's address stated in the Account Application Form or any agreements entered into between the Client and KES or any other address as the Client may notify KES in writing from time to time and shall be deemed to have been duly served and effective 48 hours after posting or, if sent by telex facsimile or any other electronic means, upon despatch or, if served by hand, upon delivery.
If the Client fails to do this, he agrees he no longer has the right to dispute the accuracy of the statement note or document. Accordingly, KES has the right to treat the Client's silence as the Client's representation that the statement note or document is accurate.
However, should KES discover at any time that the statement note or document is inaccurate, KES can still amend the same. Force majeure KES shall not be held liable to the Client for any partial performance delay in performance or non-performance of any of its obligations under any agreement with the Client by reason of any cause beyond KES's control, including but not limited to any act of force majeure any breakdown or failure of transmission communication or computer facilities postal strikes or other industrial actions the failure of any exchange market or clearing house or failure of any relevant correspondent or other agent for any reason to perform its obligations war hostility riot civil commotion requisition by any government or any regional or local authority, or any agency thereof, or any law, regulation, edict, executive order or mandate of any such body or any act of God fire flood frost storm or explosion.
Limitation of Liability KES shall not be liable for any loss or damage whatsoever including indirect or consequential loss, anticipated profits or punitive damages that the Client may suffer or incur due to any act or omission of KES or any of its appointed agents or servants in the execution or performance of any transaction which it is authorised to do pursuant to the conditions herein or otherwise requested by the Client except for any act, omission or default caused by the wilful default, gross negligence or fraud of KES its officers or employees.
Provided always that KES shall not be liable for any economic or consequential loss whatsoever that may be suffered by the Client. Change of Particulars The Client agrees to immediately notify KES in writing should there be any change in the particulars given in the Account Application Form or otherwise previously provided.
Until notification of such change is received by KES, the Client shall absolve KES of any responsibility or liability resulting from KES's acting on the basis of the original particulars. Termination by notice The Account may be terminated by either party giving the other seven 7 business days' notice in writing without having to give any reason.
KES is also authorised to deliver as soon as is practicable thereafter any securities held by it to the Client or the Client's successors in title after repayment of any debt balance and after deduction of KES's outstanding fees and expenses, if any. Assignment by KES KES may assign any or all of its rights hereunder or under any Account to any person KES deems fit, or change the office through which any transaction is booked, or through which it makes or receives payments or deliveries for the purpose of any transaction.
Service of Writ In the event of any legal action being commenced against the Client, the Writ may be served on the Client by sending a copy thereof by pre-paid registered post to the address of the Client stated in the Account Application Form or such other address as may be notified in writing by the Client to KES. Invalidity of any Provision If any of the provisions herein or any part thereof shall be adjudged invalid illegal or unenforceable in any respect, the validity legality and enforceability of the remaining provisions or any part thereof shall not in any way be affected.
Laws and jurisdiction The Client submits to the non-exclusive jurisdiction of the Courts of Singapore, but KES will be at liberty to proceed against the Client in any court in any jurisdiction. All transactions and agreements between the Client and KES shall unless otherwise agreed be governed by and interpreted in accordance with laws of Singapore. Settlement a In respect of securities not issued by KES, KES acts only as a seller of such securities and shall only be responsible to the Client for due execution of the Client's order and delivery of such securities in accordance with the terms of the transaction.
KES shall not be responsible for the underlying obligations of such securities and shall not be responsible online option stock trade trading singapore ke payment of any amounts due online option stock trade trading singapore ke respect of such securities in the event of default by the relevant issuer of such securities the "Issuer"or any calculations, determinations or adjustments made by the Issuer in respect of such securities.
The Client shall look solely to the Issuer of such securities for settlement of the underlying obligations. The Client is solely responsible for all investment decisions made by him and for determining the nature potential value and suitability of any particular securities transaction or investment strategy. The Client does not rely on anything said or written by KES including sources by electronic form or otherwise when he transacts in securities.
The Client accepts that all instructions or orders to KES are placed upon the Client's own independent judgment and without any reliance on any investment advice or comments from KES or its trading representatives. The Client is aware that trading representatives do not have the authority to give any investment advice nor make any recommendation with respect to any securities or markets on behalf of KES. If trading representatives give advice incidental to their dealings in securities, the Client acknowledges that such advice is given in the trading representatives' personal capacities.
Margin Financing with other insitutuion In the event that the Client concurrently maintains another trading account through a financial institution for the purpose of providing share margin financing to the Client, the Client authorises KES to transfer any transactions he may have effected as agent for the said financial institution in that account to this account should the said financial institution so request.
In the event that the Client obtains financing from a bank or other institution on an adhoc basis, the Client authorises KES to deliver securities to such financing bank or institution as his trading representative may from time to time instruct. Events of Default A 'Default' shall be deemed to occur if: Extraordinary Event If there occurs in relation to any transaction otherwise than on an exchange or otherwise in relation to an Account or Accounts an Extraordinary Event as defined belowKES shall have the sole discretion to determine any adjustments or action necessary in relation to such transaction or any or all transactions or online option stock trade trading singapore ke to an Account or Accounts in view of the Extraordinary Event.
Such adjustments or actions may include altering or varying the quantities of currencies or financial instruments or the exchange rates or specifications of currencies or instruments bought or sold in respect of such transaction or some or all transactions, or terminating the transaction in question or some or all transactions, or an Account or Accounts or otherwise.
Provided KES undertakes such action in good faith, any such adjustment or action shall be binding on the Client who shall be liable for any additional loss incurred by KES on the account of the Client or which the Client is consequently liable for as a result of such adjustment online option stock trade trading singapore ke action. Right to force sell The Client understands that if he does not pay for any securities purchased by the due date, KES shall have the right to force sell any or all of these online option stock trade trading singapore ke in such manner as it deems fit.
KES may but need not exercise this right on any day after the day on which the right to force sell first arose. KES will not be liable to the Client for any losses suffered by the Client as a result of any fall in the market price of the security between the first day the right to force online option stock trade trading singapore ke arose and the day it actually sells the securities or as a result of any failure to force.
Buying-In Before placing an order for the sale of shares, the Client shall ensure that the relevant shares are available for delivery and will constitute good delivery thereof on the settlement date of the transaction.
If delivery of shares is not made on the settlement date, KES shall have the right to buy-in immediately and bill the Online option stock trade trading singapore ke for the difference.
KES will not be liable to the Client for any loss suffered by the Client as a result of any rise in the market price of the securities between the time the right to buy-in arose and the time it actually buys the securities. General The Client hereby requests KES to provide custodial services the "Custodial Services" in respect of such securities of the Client as KES may in its sole discretion accept and receive the "Custody Securities"in accordance with the terms and conditions set out in this Clause 3.
In doing so, the Client acknowledges and accepts that nothing in this Clause 3 shall have the effect of constituting KES as a fiduciary of the Client or otherwise with respect to the Custody Online option stock trade trading singapore ke, any relationship of trustee and beneficiary between KES and the Client, or any further relationship other than as expressly contemplated in this Clause 3. Subject to the Client's acknowledgement in any event that KES as custodian is not a fiduciary to the Client or otherwise with respect to the Custody Securities but shall be regarded generally only as a bare custodian and not trustee of the Custody Securities, the duties of KES hereunder shall be: In these circumstances, the Custody Securities will still be held in such a way that it is readily apparent that the Custody Securities are not the property of KES, any sub-custodian or any nominee appointed by KES or any sub-custodian as the case may be.
Should KES, any sub-custodian or, as the case may be, its nominee default, any shortfall in the securities registered in that name may be shared pro rata among all clients of KES or sub-custodian whose securities are so registered; c to hold or procure that there are held in safe custody all Custody Securities that are bearer securities and ensure that such Custody Securities are held in such a manner that it is readily apparent that they are not the property of KES or any sub-custodian.