| 0 comments ]
Categories: ,

Question
I buy a share using CPFIS, can I sell the share on the same day?

Answer
No, you are not allowed to buy and sell the same share on the same day unless you have sufficient shares in your CPF account to deliver your sell order.

Reason
Your sell order when hit will be rejected by the agent bank or CPF because the share you have just buy is not in your CPF account yet. The sell order will be converted to Cash, and if you do not have sufficient shares in your CDP account to deliver your sell order, it will be treated as naked short. Please contact your broker for further advice.
If you really want to sell the share on the same day, you can ask your broker to amend the initial trade to a Cash trade, which may involve some administrative fee.

0 comments

Post a Comment