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trading charges applicable to existing TradeBeyond accounts will be superseded by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)
