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1. General
2. Account Opening
3. Trading Information
4. Delivery & Settlement
5. Fees
6. First Fixed Charge
7. Price Streaming & Real-time Quote (HK stocks)
8. Products & Services
9. Risk Warning Statement
10. Customer Account Review (Listed Specified Investment Products)
11. Exchange Traded Funds

Which stock markets can I trade with DBS Online Equity Trading (OET)?

At present, you can trade Singapore, Hong Kong, U.S., Canada, UK, Australia and Japan stocks online.

All other markets can be traded offline with our DBS Wealth team. Please contact your Relationship Manager for more information.

You can obtain free real-time quotes on equities listed on the US/Canada, Hong Kong and Singapore markets. Quotes for UK market are delayed by 15 minutes; Australia and Japan markets are delayed by 20 minutes.

Stock markets operate from Monday to Friday except for public holidays. Please refer to the respective exchanges for their public holidays. The market trading hours are as follow:

At DBS Online Equity Trading, we provide trading services in the pre-market sessions with the following conditions:

The 10-minute-long TAC session will immediately follow the closing auction routine and allows participants to execute orders at the Closing Auction Price (CAP) set during the closing auction routine. The TAC session will occur at 5.06pm to 5.16pm on a regular trading day and from 12.06pm to 12.16pm if the market is trading for half a day.

During the TAC session, trades can only occur at a fixed price, that is CAP established by SGX during the “Non-Cancel Last” session. The CAP will be displayed on our platform.

If there is no closing auction price established during Non-Cancel Last session for the counter, then all the order entries will be rejected and there will be no order matching during TAC session on that business day for that counter.

All unfilled long dated orders (GTD/GTM) during TAC, will be carried over to the following trading day.

Limit orders can only be entered at the closing auction price. Order amendments and cancellation is allowed during TAC.

For more information on TAC, please refer to SGX FAQ and News Release.

Examples
Closing Auction Price (provided by SGX) = $1.30
Limit Order Price = $1.30
Expected result: Order accepted by SGX

Closing Auction Price (provided by SGX) = $1.30
Limit Order Price = $1.40
Expected result: Order rejected by SGX

Closing Auction Price (provided by SGX) = Price Unavailable (-)
Limit Order Price = $1.40
Expected result: Order rejected by SGX

'AON' is a type of restricted order where the entire order must be filled at one time or nothing will be filled at all. If you do not specify your order as 'All Or None' when placing a limit order, there is a possibility that your order will be filled partially. Full commission fees and charges apply for each partial fill, except those transacted within the same business day. Please note that AON feature will only be available if the quantity is over 100 units.

A Good for Day order is a limit order good for that business day only. If the order is not filled by the end of the trading day, the order will expire. A Good for Day order placed after the market is closed is good for the next business day, unless it is placed specifically for after-hours trading.

A Good till Date order is a limit order good for the next 30 calendar days after the order is placed. The order will be cancelled on the morning following the 30th day. When you cancel and replace a good for 30 days order, the order will be given a new 30 calendar days expiration period. Good till Date order is applicable for the Singapore, U.S., Canada, UK, Australia and Japan markets.

A Good till Max order is a limit order similar to Good till Date order. Order will automatically be good for the next 30 calendar days after the order is placed, and cancelled on the morning following the 30th day, unless order is fully filled, specifically cancelled, instrument de-listed, or purged for corporate actions. Good till Max orders are available in the Singapore market only.

A market Fill or Kill (FOK) order is only applicable to the Singapore market. The entire quantity placed must be matched in full or the order will be cancelled. A market FOK order can only be entered during continuous trading hours from 09:00 – 12:00 and 13:00 – 17:04.

A market Fill and Kill (FAK) order is only applicable to the Singapore market. Any portion of a market FAK order will be matched as soon as the order is placed and the remaining order will be cancelled. A market FAK order can only be entered during trading hours from 08:30 – 17:04.

Risks associated with using market orders
Please take note that by placing a market FAK order during SGX Opening Routine, Mid-Day Break or Closing Routine, the order will be participating in Matching during Non-Cancel Phase. Orders that can be matched are matched at a single price computed based on SGX Algorithm.

A buy order can be filled at a much higher price than intended, or a sell order can be filled at a much lower price than intended.
Using market orders during a volatile market is not recommended as there is a higher probability that the prices will change quickly.
Hence, the incidence of ‘slippage’ is higher in fast-moving markets or for illiquid securities with thin order book and wide bid-ask spread.
The order may be split across multiple investors on the other side of the transaction, resulting in different prices for the order.

For more information, please click here

You will immediately receive an online order confirmation with a reference number provided. This confirmation means that we have received your order instruction. You will need to check the order status by clicking to find out whether your order has been filled. The status shows the stage at which your order is being processed.

You can check the order status online by clicking view Order Status to find out whether your orders have been filled. You can also obtain trade confirmations via SMS and email. The activation process is easy, you can enable SMS and/or email alert via the secure site or through our investment service center. Alternatively, you may also call our DBS Wealth Management Hotline at 1800 221 1111 (Singapore) or (65) 6221 1111 (overseas).

To amend your outstanding order, click on “Amend” button in the Order Status page to proceed. The Order Status page will indicate if your amendment has been successful. We provide different amendment actions for different markets. Details are as shown below:

If you have an outstanding order that is not yet filled in the market, you may cancel it by clicking "Cancel" on the Order Status page to proceed with the cancellation. The status of your order cancellation can then be viewed in the Order Status page as well. Please note that all cancel orders are subject to prior fills.

If you are away from your computer and wish to make an amendment, you may contact our DBS Wealth Management Hotline at 1800 221 1111 (Singapore) or (65) 6221 1111 (overseas).

All unmatched orders will expire at the end of the business day. If you wish to keep the order for the next business day, you will have to re-enter the order after the trading hours. If you have selected "Good till date" (only applicable for the Singapore, U.S., Canada, UK, Australia and Japan markets), your order will be cancelled automatically on the expiry date.

Orders can be entered throughout the day, 24 hours a day, 7 days a week. However, please be reminded that an order will be routed to the market in the next trading session if it is placed during non-trading hours.

The order price - Buying or Selling - should not be more than the stated forced order bid spread away from current market price. The size of a bid increases with the share price, as shown in the table below:

Minimum Bids Schedule

All securities, other than those securities covered under Part B, Part C and/or Part D, shall be traded in accordance with the following scale of spreads:

Part B

Securities which are authorised by the Exchange to be traded in accordance with the scale of spreads in this Part B and all debt securities shall be traded in accordance with the following scale of spreads:

Exchange Traded Options shall be traded in accordance with the scale of spreads as set out in the Operational Trading Procedures.

For limit orders, you may submit at any price range with the following exception relative to the different US exchanges:

NYSE, NASDAQ and AMEX

1. For counters with a Last Done Price that is more than or equals to one dollar, the limit price entered should not contain more than two decimal places.
2. For counters with a Last Done Price that is less than one dollar, the limit price entered should not contain more than four decimal places.

FTSE 100 constituents

FTSE 250 constituents

TOPIX 100 constituents

Other Product Segments

There are a number of reasons your order could be rejected and the common ones are listed here:

1. The limit price of your order is more than the stated max bids away from the current bid/ask prices and the forced order option was not checked.
2. Insufficient cash balance in the MCSA.
3. The stock you selected has been suspended.
4. The stock you selected has been delisted.
5. The SGX has encountered technical problems.
6. The system has encountered technical problems - such as outages, glitches and other delays.
7. The limit price of your order is not the same as the closing auction price during Trade At Close session.

If your order is rejected despite having checked and corrected any possible errors, please contact our DBS Wealth Management Hotline at 1800 221 1111 (Singapore) or (65) 6221 1111 (overseas).

No, orders for SGX Odd Lot/Unit Share market cannot be placed over the internet. Please contact our DBS Wealth Management Hotline at 1800 221 1111 (Singapore) or (65) 6221 1111 (overseas), if you wish to obtain information on stocks trading or place an order in the Odd Lot/Unit Share market.

Yes, you may receive preliminary notification via email or SMS alerts on your mobile phone. Please update your mobile number and email address for alert notifications in DBS iBanking.

Final trade confirmation will be mailed to you on T+1.

You are advised to check the Order Status page to find out whether your order has been filled.

No. DBS Online Equity Trading will not accept trade instructions via e-mail. If you encounter problems whilst trading on this website, please contact our DBS Wealth Management Hotline at 1800 221 1111 (Singapore) or (65) 6221 1111 (overseas)

1. What do I need to do if I have some physical certificate that I want to sell for Hong Kong, US/Canada, UK, Australia & Japan market?
2. When can I pick up the money after I sell stocks?
3. How do I make deposit to settle my trade?
4. What should I do if I want to buy stocks in a particular market but do not have that currency in my DBS Online Equity Trading account?
5. How do I transfer securities to DBS Online Equity Trading (OET)?
6. What type of statements do I receive?
7. How are dividends and other corporate actions managed?
8. For non-SGX trades, what is the cutoff time to convert funds to the settlement currency to settle the trade?
9. Can I use CPF/SRS funds to trade online?
10. What is SGX cash settlement?
11. How will I know if my SGX Buy trade has been cash settled?
12. How does the new SGX settlement process affect trades denominated in a foreign currency?

All trades will be debited from your Wealth Management Multi-Currency Settlement Account (MCSA).

You can either deposit the required currency to your Multi-Currency Settlement Account before beginning to trade or instruct us to convert other currencies in your DBS Bank accounts.

Unless you indicate otherwise, you are required to settle your trades in their base currencies. You can settle all your trades from different markets in Singapore, Hong Kong, U.S., Canadian, Euro and Australian dollars, Pound Sterling and Japanese Yen.

Please contact your Relationship Manager for assistance.

There is no fee involved for equities transfer in. However, out-of-pocket expenses such as stamp duties are payable by the client.

Your online trades will be included in your DBS Private Bank or DBS Treasures Private Client or DBS Treasures consolidated statements.

Currently, you cannot manage dividend and corporate actions via our web site. However, you will receive notifications from us via mail for mandatory corporate actions. For voluntary corporate actions such as rights issues, takeovers, and dividends with scrip option, you will also receive response slips which should be completed and returned before the due date should you wish to participate. Alternatively, you can contact your Relationship Manager and request that they apply your decision.

If you are doing a FX conversion between your Multi Currency Settlement Account (MCSA) via iBanking using the Fund Transfer option, please do so not later than 7pm of the day.

If you are doing a fund transfer in the settlement currency from your other DBS bank account to your Wealth Management Account, please do so not later than 7pm of the day.

You can also contact your Relationship Manager and request for settlement in another currency by 4pm before settlement day.

DBS Online Equity Trading does not facilitate trades with CPF or SRS funds.

When there are insufficient securities delivered from the sellers of the security, your buy trade may not settle on the intended settlement day (ISD) and the trade remains unsettled, cash settlement will take place.

You may refer to SGX website here for more information on cash settlement.

Note: ISD is also known as the settlement date (T+2).

You will be informed when your buy trade has been cash settled.
Note: A buy trade may be cash settled as early as ISD+1.

If the settlement date (T+2) falls on a holiday of your foreign currency trade, both money and securities settlement will take place on the next banking day.

In the event of an unscheduled holiday (E.g. Natural disaster) where it results in closure of a market, that particular day will be treated as a currency holiday.

1. What are the costs for opening an account with DBS Online Equity Trading?
2. Does DBS Online Equity Trading charge any custodian fees?

No initial deposit or fee is required to open an account with DBS Online Equity Trading. It is one of the privileges of your DBS Private Bank, DBS Treasures Private Client and DBS Treasures account.

Custodian fees are waived for Singapore market. For other markets, 0.2% per annum, subject to a minimum of S$100 per market (payable semi-annually).

Note: Custody fees will be based on the market value (for equities) and nominal value (for debt instruments) of the portfolio at month-end.

1. What is First Fixed Charge?
2. Why is the Bank obtaining a First Fixed Charge?

A fixed charge is a form of security the Bank takes over the customer’s assets with the Bank. A first fixed charge means that the Bank is ranked first over other lends in terms of repayment, in the event customer defaults.

For Market Order – The trade may be executed at a price that is higher than when the customer placed the order. As a result, some customers may not have sufficient funds in their settlement account to fund the trade.

The First Fixed Charge gives the Bank the right to use any other assets the Customer has with the Bank to fund any shortfall arising from the trade.

'Streaming' refers to the ability of a website to dynamically display market data. This feature allows investors to receive continuous updates on the 'Streaming-enabled' pages.

Real-time streaming quotes are available for Singapore stocks. The web pages for your Watchlists and the Market Top 20 lists are enabled for streaming quotes.

Real-time streaming quotes are also available for Hong Kong and U.S. markets, subject to meeting the eligibility criteria. You can check your eligibility in the “Market Data Entitlement” on the Trade page

For Australia, Japan & United Kingdom we only offer delay prices (Australia & Japan = 20 mins delay, UK = 15 mins delay)

All data fields within the Watchlists and the Market Top 20 lists pages are enabled with the streaming functionality. All data movements are highlighted with yellow flashes.

Most of the data fields on the Trade page are also enabled with the streaming functionality.

The Trade page has the streaming function built in. When you turn on “Stream Prices" on these pages, the data fields on the page will automatically refresh as updated data is served from the system.

Please note that the availability of streaming data is subject to your market data entitlement. To check your entitlement, click on “Market Data Entitlement” on the Trade page.

Streaming quote service on DBS Online Equity Trading is available during market hours.

If you need any help to troubleshoot problems encountered when you access streaming quotes, please contact our DBS Wealth Management Hotline at 1800 221 1111 (Singapore) or (65) 6221 1111 (overseas)

All clients are provided with 1,000 real-time snap shot quotes per calendar month by default. This quota may be reduced or increased at the company's absolute discretion taking into account the business given by you.

You will not be able to get any more real-time snap shot quotes from your Watchlist, Top 20 and Custom Portfolio until your fresh entitlement of quotes is available at the beginning of the following month. However, you can still use the delayed streaming to view the prices for HK stocks. Prices will be delayed 15 mins.

No.

Click on "Market Data Entitlement" on the Trade page to view your quote usage.

Whenever you obtain snap shot quotes from any page on this website, all quotes displayed in that page are counted towards your quota. For example, if you have 20 HK stocks in your Watchlist, 20 snap shot quotes will be deducted from total quotes quota per each refresh of the Watchlist. Every click on Market Top 20 will count 20 quotes.

DBS Online Equity Trading offers services for self-directed investors, including access to a comprehensive selection of products and services. To help you make informed investment decisions, we offer you professional research reports from world-class research firms.

Yes. With one multi-market account, you can trade stock in Singapore, Hong Kong, Canada, the United States, United Kingdom, Australia and Japan.

Overseas Listed Investment Products that are re-classified as EIPs are as below:

1. Ordinary Shares;
2. Preference Shares;
3. Deferred Shares;
4. Fully Paid Depository Receipts representing shares (e.g. ADRs);
5. Subscription Rights and;
6. Real Estate Trust.

Listed in the following countries:

1. Australia;
2. Canada;
3. China B;
4. Hong Kong;
5. Indonesia;
6. Japan;
7. Malaysia;
8. Philippines;
9. South Korea;
10. Taiwan;
11. Thailand;
12. UK; and
13. United States (namely NYSE, NASDAQ, and AMEX)

For Overseas Listed Investment Products (e.g. ETFs) or markets not listed above (e.g. EU markets), customers are required to complete both the Risk Warning Statement ("RWS") acknowledgement and Customer Account Review ("CAR") declaration.

List of Stock Exchanges with overseas listed SIPs reclassified as EIPs:

1. Australia
2. Canada
3. Hong Kong
4. Japan
5. Malaysia
6. South Korea
7. Taiwan
8. Thailand
9. United Kingdom
10. United States (namely NYSE, Nasdaq and AMEX)
11. China B
12. Indonesia
13. Philippines

Please note that the Bank may not offer securities trading for all the above 13 Stock Exchanges and the EIP classification may change from time to time.

If you wish to trade listed SIPs, the Bank will have to conduct a CAR based on your declaration of your educational qualifications, work experience and investment or trading experience to assess whether you have the knowledge or experience to understand the features and risks of SIPs before you can apply for a DBS Online Equity Trading account to trade in listed SIPs.

The criteria used in the CAR to determine if the investor qualifies are as follows:

• Educational Qualifications

  Diploma or higher qualifications in one of the following fields:

  1. Accountancy
  2. Actuarial Science
  3. Business Administration/Business Management/Business Studies
  4. Capital Markets
  5. Commerce/ Economics /Finance
  6. Financial Engineering
  7. Financial Planning / Computational Finance and Insurance
  8. Professional Finance-related qualifications ( including Chartered Financial Analyst Examination conducted by CFA Institute, USA and the Association of Chartered Certified Accountants (ACCA) Qualifications)
• Working Experience

  Have a minimum of 3 consecutive years of working experience in the past 10 years, in the development of, structuring of, management of, sale of, trading of, research on or analysis of investment products (as defined in Section 2(1) of the Financial Advisers Act (Cap. 110)), the provision of training in investment products or the provision of legal advice or possession of legal expertise in any of the foregoing. Work experience in Accountancy, Actuarial Science, Treasury or Financial Risk Management activities will also be considered relevant experience.

  Note

  Working experience in administrative and clerical work, or in general support functions such as, operations, human resources, corporate services and information technology will not be considered relevant experience.

  Section 2(1) of the Financial Advisers Act (Cap. 110): Interpretations

  “investment product" means — (a) any capital markets product as defined in section 2 (1) of the Securities and Futures Act; (b) any life policy; or (c) any other product as may be prescribed;

  "capital markets products" means any securities, futures contracts, contracts or arrangements for the purposes of foreign exchange trading, contracts or arrangements for the purposes of leveraged foreign exchange trading, and such other products as the Authority may prescribe as capital markets products;

  "life policy" has the same meaning as in the First Schedule to the Insurance Act (Cap. 142), but does not include any contract of reinsurance;

  Insurance Act, First Schedule: Definitions related to life business

  “life policy” means any policy which —

  1. provides for the payment of policy moneys on the death of a person or on the happening of any contingency dependent on the termination or continuance of human life;
  2. is subject to payment of premiums for a term dependent on the termination or continuance of human life;
  3. provides for the payment of an annuity for a term dependent on the termination or continuance of human life; or
  4. is a combination of any of the above.

  An accident and health policy that provides for the payment of policy moneys on the death of a person is not a life policy.

• Investment Experience

  At least 6 transactions in Listed SIPs in the preceding 3 years.

  When the requirements became effective on 1 January 2012, the period of the preceding 3 years is from 1 January 2009 to 31 December 2011.

  If you do not have a DBS Online Equity Trading Account but you have an offline Trading Account, you can contact your Relationship Manager to check your eligibility status for trading or investing in Listed SIPs.

To pass the CAR, you only need to satisfy ONE of the 3 criteria.

Customer who is an individual and who is an accredited investor* is exempted from CAR. Client who is a non-individual (e.g. corporate clients) are also exempted.

*Accredited Investor (for an individual) means -

• whose net personal assets exceed in value $2 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;
• whose financial assets (net of any related liabilities) exceed in value $1 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount, where “financial asset” means -
• a deposit as defined in section 4B of the Banking Act;
• an investment product as defined in section 2(1) of the Financial Advisers Act; or
• any other asset as may be prescribed by regulations made under section 341; or
• whose income in the preceding 12 months is not less than $300,000 (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;

If you do not satisfy the CAR but still wish to invest in Listed SIPs, you may visit https://onlineeducation.sgx.com/specifiedinvestmentproducts/ to take the SGX learning module on SGX-Listed SIPs. Please select “NIL” under the drop down list for Broker. Upon passing the assessment at the end of the SGX learning module, you may contact your Relationship Manager to inform that you have passed the assessment and provide a copy of your assessment result to the Bank. Upon the Bank being satisfied that you have passed the assessment, you will be eligible to trade Listed SIPs.

The 2nd account holder may visit https://onlineeducation.sgx.com/specifiedinvestmentproducts/ to take the SGX learning module. Please select “NIL” under the drop down list for Broker. Upon passing, please provide your assessment result to your Relationship Manager. Upon the Bank being satisfied that the 2nd account holder has passed the assessment, both account holders will be eligible to trade Listed SIPs.

You will be allowed to dispose of your free balance shares or contra outstanding positions bought before 1 Jan 2012. However, you will not be allowed to purchase Listed SIPs.

You may proceed to complete the CAR by clicking on the Customer Account Review Results on the DBS Online Equity Trading page.

Under Singapore’s Securities and Futures Act (Cap. 289), an individual is an “Accredited Investor”:

1. whose net personal assets exceed in value $2 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;
2. whose financial assets (net of any related liabilities) exceed in value $1 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount, where “financial asset” means -
• a deposit as defined in section 4B of the Banking Act;
• an investment product as defined in section 2(1) of the Financial Advisers Act; or
• any other asset as may be prescribed by regulations made under section 341; or
3. whose income in the preceding 12 months is not less than $300,000 (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;

Please contact your Relationship Manager to declare your Accredited Investor status to the Bank.

After you are assessed to be qualified to trade listed SIPs, we will conduct the CAR once every 3 years for accounts trading in Listed SIPs.

After you are assessed to be qualified to trade listed SIPs, we will conduct the CAR once every 3 years for accounts trading in Listed SIPs.

If you have transacted in a Listed SIPs at least two (2) times through your trading account during the preceding 3-year period, you may continue to trade Listed SIPs in that same trading account after 3 years has expired from the date of your last CAR assessment.

Notwithstanding that CAR is valid for 3 years, financial institutions are required to update Customer’s profile at least once a year. As such, the Bank will request for an annual update of your education qualifications and investment experience or work experience and any other relevant information.

Unless there is a change in your declared status which you undertake to inform the Bank within 7 working days, the Bank may perform periodic reviews on your status as an Accredited Investor to ascertain its validity.

You would only need to undergo one assessment. If you pass the CAR, the outcome of the assessment will apply to all your Trading Accounts linked to your NRIC or Passport Number.

You have to undergo 1 single assessment.

Yes, each financial institution has an obligation to conduct its own CAR for their customers. The successful outcome of the assessments conducted with other financial institutions is not transferable to DBS Bank.

Here are some of the advantages of investing in ETFs:

1. Diversification - instantly get exposure to a portfolio of stocks of your choice
2. Convenience and Liquidity - buy and sell at any time during the trading day
3. Cost-effectiveness - lower management and sponsor fees

ETF holders are eligible to receive their portion of dividends, if any, accumulated on the stocks held in trust, less fees and expenses of the trust. You may realize capital gains when you sell your ETF holdings at a price higher than your purchase price.

It may be due to the minimum bid size problem. Please call our DBS Wealth Management Hotline at 1800 221 1111 (Singapore) or (65) 6221 1111 (overseas).