[Insegnamento sulla vendita di iBond]What’s the Difference Between Bank and Broker Same Day Selling Procedures and Over-the-Counter Transactions or Exchange Transfers on Business Days? With Examples from HSBC, Hang Seng, and Yaocai | Investments | Economic weekly

iBond can obtain up to 4 lots listed on the Hong Kong Stock Exchange on November 17th

A few days ago, the government announced the results of the seventh batch of subscription and allotment of inflation-linked bonds (iBonds). The government received a total of approximately 456,000 valid applications, and the final iBond issuance was 15 billion yuan, which is about 1.55 times over.

All valid applications are assigned to iBond, meaning everyone has a share and each person can get a maximum of 4 hands. Among the applications, 196,391 subscriptions for three lots or less, all were assigned the bonds applied. The remaining 259,989 applications for more than three lots will be issued first with three lots of bonds, then the lottery will be conducted, of which 230,930 applications will be awarded with another lot of bonds.

iBond will be listed on the Hong Kong Stock Exchange next Tuesday (November 17th).

You can choose over the counter trading or “roll position” on the stock market

After winning iBond, investors who have signed up with banks can choose to do soOffsiteOr inStock marketTrading.

1. Over-the-counter transactions (sold before the listing date)

That is, when buying and selling off-exchange, the bank will set the purchase and sale price for iBond. Investors can directly sell iBonds to the bank out of market. This action does not require iBond “roll position”, avoiding complicated procedures and There is also the possibility that the day of the OTC transactions is earlier than the listing date.

However, as the price of over-the-counter transactions is set by individual banks, you need to check the price with the bank you subscribed to. The price may deviate from the market price of the used car on the day of listing, but it will generally not be too far off.

2. Dark market trading (sold before the listing date)

Additionally, investors underwritten by a brokerage firm can also choose to trade in dark markets.

Dark market trading is similar to over-the-counter transactions in banks. A brokerage firm will create a trading platform and the start date of dark market trading may even be earlier than the listing date. Investors can buy and sell iBonds on the brokerage platform, but the dark market price can also deviate from the second-hand market price on the day of listing.

3. Stock exchange transactions

iBond can also be sold on the Hong Kong Stock Exchange’s second-hand market platform on the day of listing on November 17 (Tuesday), but some banks may need to “roll position” for iBond.

If the iBond is deposited into a bond account, it must be converted to a securities account and sold, and some banks may charge a transfer fee.

The time it takes for each bank to transfer warehouses is different, most of which take 1 to 3 business days, you need to check with your bank first. If you choose to trade on the exchange, you need to renew. If you choose to trade over the counter, you don’t need this procedure. It should be noted that most banks require customers to go to the branch to complete the procedure.

1. Securities telephone line (over-the-counter trading)

Clients who have subscribed through Hang Seng Bank can take the initiative to conduct over-the-counter transactions via the Securities Hotline starting at 10:30 am on November 16th (Monday).

But everyone should be aware that when selling goods on the Nikkei hotline, you need to provide your telephone banking password. Those who do not have the phone banking password or have forgotten the password can set the password as soon as possible.You can use the ATM card to set the password in advance in all Hong Kong Hang Seng ATMs.

The telephone hotline service is only available from November 16-27, after which all transactions must be made through bank branches.

2. Go to the branch in person (off-exchange transaction)

Customers can also go to a Hang Seng Bank branch on November 16th (Monday) to fill out a form to sell.

3. Transfer to a branch on a securities account (stock market)

Customers who have subscribed through Hang Seng Bank can go to the designated Hang Seng Bank branch to fill out a form starting today (November 13) to transfer iBond from a bond account to a securities account, and then can treat it as a action after the day of listing via online banking, Free trading via telephone hotline and other methods.

The process generally takes 1 business day and no rollover fee is required. However, when selling iBonds, a brokerage fee of at least 100 yuan and other miscellaneous fees are required.

1. Internet banking (over-the-counter transactions)

Customers who have subscribed to HSBC can sell iBonds out of the market through personal online banking on the day of listing on November 17th (Tuesday).

The method is to first log into Personal Internet Banking, go to “My Investments” and then select “Investment Products”, select “Bonds / Certificates of Deposit”, select “My Portfolio” to view or manage the bonds or certificates of deposit, then click “IBOND is held” and then choose to sell.

2. Go to the branch in person (bag)

If you want to sell on the stock exchange, you can transfer iBond to the Central Clearing System (CCASS) at a branch of HSBC from November 16th (Monday). Subsequently, clients can sell iBonds through the general stock trading channels.

If the bank receives the instruction before noon, it usually takes 3 business days to complete the transfer and the fee is 100 yuan; but before December 31, apply for iBond in the Central Settlement System (CMU) and in the Central Settlement and Settlement System (Transfers between CCASS) are eligible for a fee waiver.

1. Transfer in person to another stock account at a branch (stock market)

Beginning November 16, Standard Chartered clients are required to file a “Retail Bond Transfer Notice” at branch to request the transfer of iBonds to bonds or equity accounts of other financial institutions. Each bond transfer statement is 500 yuan, and the time required varies by financial institution.

2. Transfer to Standard Chartered Stock Exchange Account via Telephone Hotline (Stock Market)

Beginning November 16, Standard Chartered clients can transfer iBonds to a Standard Chartered stock account through a branch or telephone hotline. After iBond is transferred to a stock account, an inventory service fee is required and the bond transfer instruction takes at least 3 business days to complete.

After transferring iBond to an equity account, Standard Chartered clients can choose to sell iBonds via online banking or the SC Equities app.

1. Dark market trading can be pre-sold

Trading on the dark market of brokers is similar to over-the-counter trading of banks. Individual brokers will create a trading platform for investors to conduct iBond trading, but not all brokers offer dark trading and investors need to check with individual brokers.

Clients who have subscribed to Yaocai Securities can start at 4:15 pm on November 16th (Monday), select “Trade” on the Yaocai Securities (Baby) APP, then click “Place Order” to sell. Glory will collect the commission first and then return it to customers.

2. Sell in the normal stock trading method on the day of listing

In general, clients who sign up for iBond through a brokerage firm do not need to “renew”, as most brokerage firms place iBonds in their securities accounts, but it is best for investors to confirm with individual brokerage firms.

Clients who have subscribed to Yaocai Securities can sell iBonds through normal stock trading channels on the day of iBond’s listing, but they must also pay commissions like normal shares.

Further reading: iBond guarantees a 2% return Why should professional investors take iBond?

Extended Reading: iBond Rises 6.7% Anytime on First Day of Listing, and Return is Almost 3X Over 2% Guaranteed | Wuzhi

Disclaimer: All investment analysis techniques posted on this page are for reference only. The market is changing rapidly and readers should be cautious before making investment decisions and actively keeping abreast of the latest market conditions. If a leak unfortunately occurs, it has nothing to do with this journal and related authors. The content and opinions of blogs on the Group’s websites or social platforms are solely the personal opinions of the author and have nothing to do with the position of New Media. The Group’s website is not responsible for any loss or damage caused by the information published by the persons mentioned above.