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Home » Latest Notice » Revision on Contra Trading Charges
Revision on Contra Trading Charges

Dear i*Trade@CIMB Valued Customers,

 

With effect from 1st April 2017, the finance charges imposed for TradeBeyond accounts on the contra transactions will be based on the following revised formula:-

 

Finance charge = (Principal Amount / 365)  X  Prevailing Interest Rate  X  Overdue days*

 

Existing

Revised

All Products

TradeBeyond Accounts

Other Products^

*Overdue days = [ S (T + 0) – P (T + 3) ]

*Overdue days = [ S (T + 3) – P (T + 3) ] – 3 calendar days

Remain unchanged

S(T+0)  

denotes transaction date of the Sale position,

S(T+3)

denotes payment due date of the Sale position,

 

P(T+3)  

denotes payment due date of the Purchase position, and

P(T+3)  

denotes payment due date of the Purchase position, and

T denotes the transaction date

T denotes the transaction date

Interest Rate 10% p.a

Remain unchanged

Remain unchanged

 

Note:

1)      ^Clicks Trader, Clicks Trader Plus, Securitised Trading (Direct), Securitised Trading (Nominees) and Direct Trading Account

2)      Contra trading charges applicable to existing TradeBeyond accounts will be superseded by the above revised contra trading charges

 

For more information, please contact your respective Dealer’s Representative or Authorised Officer of CIMB Bank Berhad.   Alternatively, you may contact CIMB Online Trading at 03 2261 0888 or email at [email protected].

 

Thank you.

 

 

Yours sincerely, 

CIMB Investment Bank Berhad (18417-M) 
(A Participating Organisation of Bursa Malaysia Securities Berhad)

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