Friday, May 15, 2009
Cusip Number
Source: http://www.investopedia.com/ask/answers/04/040704.asp
CUSIP stands for Committee on Uniform Securities Identification Procedures. Formed in 1962, this committee developed a system (implemented in 1967) that identifies securities, specifically U.S. and Canadian registered stocks, and U.S. government and municipal bonds.
The CUSIP number consists of a combination of nine characters, both letters and numbers, which act as a sort of DNA for the security - uniquely identifying the company or issuer and the type of security. The first six characters identify the issuer and are assigned in an alphabetical fashion; the seventh and eighth characters (which can be alphabetical or numerical) identify the type of issue; and the last digit is used as a check digit.
The CUSIP Service Bureau is operated by Standard & Poor's on behalf of the American Bankers Association (ABA). When setting out to develop the CUSIP system of identification, the ABA basically had two main criteria it was trying to meet. First, it wanted the identification to contain the fewest number of characters possible and to be linked to an alphabetical sequence of issuer names. Secondly, it recognized that the system should be adequate given the current operating requirements while having the flexibility to adapt to any future needs or changes in the operating systems. For more information on the CUSIP system, visit Standard & Poor's CUSIP Service Bureau.
CUSIP stands for Committee on Uniform Securities Identification Procedures. Formed in 1962, this committee developed a system (implemented in 1967) that identifies securities, specifically U.S. and Canadian registered stocks, and U.S. government and municipal bonds.
The CUSIP number consists of a combination of nine characters, both letters and numbers, which act as a sort of DNA for the security - uniquely identifying the company or issuer and the type of security. The first six characters identify the issuer and are assigned in an alphabetical fashion; the seventh and eighth characters (which can be alphabetical or numerical) identify the type of issue; and the last digit is used as a check digit.
The CUSIP Service Bureau is operated by Standard & Poor's on behalf of the American Bankers Association (ABA). When setting out to develop the CUSIP system of identification, the ABA basically had two main criteria it was trying to meet. First, it wanted the identification to contain the fewest number of characters possible and to be linked to an alphabetical sequence of issuer names. Secondly, it recognized that the system should be adequate given the current operating requirements while having the flexibility to adapt to any future needs or changes in the operating systems. For more information on the CUSIP system, visit Standard & Poor's CUSIP Service Bureau.
Sunday, May 10, 2009
UK orders
UK trades are match by market markers.
Thus even if your price does get penetrated, your order may not get done as it depend on the market markers whether they want to take your order.
As far i know, there will not be a partially filled order for UK orders.
Thus even if your price does get penetrated, your order may not get done as it depend on the market markers whether they want to take your order.
As far i know, there will not be a partially filled order for UK orders.
Sunday, November 16, 2008
Class Action
Hmm...class action is a corporate action where companies had to pay clients who had previously purchased or have sold off their shares during a certain period and is deemed to have compensation due to some issues.
For example, Royal Dutch Shell has the following class action, that shareholders who had purchased during this period of April 8, 1999 till March 15, 2004 will be eligible for this compensation. Do remember to keep your brokage record or receipts.
Source: http://www.shell.com/home/content/investor/reserves_settlement/us/us_reserves_settlement.html
For example, Royal Dutch Shell has the following class action, that shareholders who had purchased during this period of April 8, 1999 till March 15, 2004 will be eligible for this compensation. Do remember to keep your brokage record or receipts.
Source: http://www.shell.com/home/content/investor/reserves_settlement/us/us_reserves_settlement.html
Saturday, November 15, 2008
Orders for HK market
There are more order type in HK market than SGX. Do look up your brokage provider as they have a better explaination on this order types or HKEx.
Orders for Matching period
Both Auction orders, limit and market, can only be used during the matching period.
Auction market order
For auction market order, its a market order that will be filled at the prevailing market price during the matching period and enjoy a matching priority than auction limit order.
Auction limit order
For auction limit order, the price will only be filled at that price or better. After the matching period ends, the order will converted to a limit order. If the limit price deviate away from the current trading price by more that 9 bids or more, the order will be rejected. Thus one will need to monitor the order.
Orders after matching period
Both limit and enhance limit orders are orders that will be filled at a better price or the limit price submitted by you. So whats the different for enhance limit order? Oh, theres another Special Limit order as well.
Enhanced Limit Order (ELO):
An ELO allows matching of up to five price queues at the same time. The input order price of an ELO can be matched up to four spreads better than the best price on the other side of the market. Any unfilled quantity of an ELO after matching will be converted into a Limit Order at the input order price.
Special Limit Order (SLO):
A SLO matches up to five price queues (i.e. the best price queue and the next four queues each at one-spread away) as long as the traded price is not worse than the input limit price. Any unfilled quantity of an SLO after matching will be cancelled by AMS/3.
More information about ELO and SLO is available on the Hong Kong Stock Exchange (HKEX) web site.
Source: http://www.dbsvonline.com/English/index.asp
Think it will be better if there are numerical examples which show the working of ELO. Will update again.
Orders for Matching period
Both Auction orders, limit and market, can only be used during the matching period.
Auction market order
For auction market order, its a market order that will be filled at the prevailing market price during the matching period and enjoy a matching priority than auction limit order.
Auction limit order
For auction limit order, the price will only be filled at that price or better. After the matching period ends, the order will converted to a limit order. If the limit price deviate away from the current trading price by more that 9 bids or more, the order will be rejected. Thus one will need to monitor the order.
Orders after matching period
Both limit and enhance limit orders are orders that will be filled at a better price or the limit price submitted by you. So whats the different for enhance limit order? Oh, theres another Special Limit order as well.
Enhanced Limit Order (ELO):
An ELO allows matching of up to five price queues at the same time. The input order price of an ELO can be matched up to four spreads better than the best price on the other side of the market. Any unfilled quantity of an ELO after matching will be converted into a Limit Order at the input order price.
Special Limit Order (SLO):
A SLO matches up to five price queues (i.e. the best price queue and the next four queues each at one-spread away) as long as the traded price is not worse than the input limit price. Any unfilled quantity of an SLO after matching will be cancelled by AMS/3.
More information about ELO and SLO is available on the Hong Kong Stock Exchange (HKEX) web site.
Source: http://www.dbsvonline.com/English/index.asp
Think it will be better if there are numerical examples which show the working of ELO. Will update again.
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