Selling Rights/Scrips/Odd Lots

This is kinda a stupid post for many but I decided to write it anyway since I didn't know it until now.

I think for those of you who applied for Rights, Scrips, etc, you tend to get odd lots (shares less than the standard 100 lot, or whatever the number for your counter).

For the US exchanges, I don't have such an issue, you can trade even 1 share, but that's because they have volume unlike us (and lower brokerage fees too =\).

So how do we sell odd lots?

I'm using LimTan as an example as it is the brokerage I use:

• Set the filters of the option Market to "SGX UnitShare"
• Look for your stock and sell it.

Do note that the same commission system (minimum brokerage hurts) applies for normal shares applies to the Unit Share market for Odd lots.

From the way it looks, there might be a slightly bid-ask spread as it could be not as liquid as the standard market.

If you are going to sell all your holdings, I think it would be prudent to sell first your standard lots then sell off all odd lots in the Unit Share market in the same day, it will be consolidated into one contract at the end of day.

More info from LimTan here.

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Another question would be:

Say in CDP I have 10 lots but my brokerage only has 7 lots, do I need to inform my broker to add them to my brokerage?

Answer is:

Yes
if you use your brokerage platform for tracking

No
if you track your portfolio on CDP, SGXCafe or Excel (I do both SGXCafe and Excel), just key in the amount you wish to sell as long you own at least that many in CDP.

Once the shares are transacted, it will be deducted from your CDP anyway. (I haven't tried selling more than I own so I have no idea what will happen. Maybe it becomes a short position ^^")




Side Note: I switched back to PLUS from the 365 credit card and swap back to using an ATM card ($5 for a new one, meh), as FRANK Debit Card NETS Flashpay ATU has a 0.15 fee and using EZ Reload is better as it allows me to get the 360 account CC spend bonus interest (real important for me, most cards don't give me significant savings based on my expenditure profile anyway), as well as the current debit cards offered tend to have stuff like VISA Paywave, not very comfortable about tapping my wallet to have two cards paying the same thing (just in case, though odds are low, probably unnecessary but that's just me).