Joint account can only be opened for two persons.  Joint bank account is required for Direct Crediting Service (DCS).

Additional name cannot be added for margin account.  Documents required for joint margin account application are applicants’ identity cards.  Mailing address can be one of the joint account holders.  Withdrawal cheque is issued in the name of joint account holders.

Sale proceed can be used for shares purchase on the same day.  Margin officer has to be informed for trading limit to be refreshed.

Security cover has to be above 150% for withdrawal from margin account.  Withdrawal for every $1 in margin account reduces available financing by $3.  Withdrawal is subject to security cover limit of 150%.

Cashing out amount for margin account =
Marginable Values – Debit Balance

Sale proceed is available for withdrawal from due date + 1 business day onwards.  Withdrawal from margin account is done via cheque.  If instruction for withdrawal is received by 10.30am and 3.30pm, cheque will be ready on the same day by 12.30pm and 5.15pm respectively.

Fees for maintenance of margin account every three months are $15 (with shares) and $2 (without shares).

Suspended counters held in margin account can be transferred to CDP account at $10.70 per counter.

Monthly margin statements are mailed on the fifth working day of the following month.

Updated on 28 March 2019