The capping for the shares will be adjusted to 0 and clients who hold the shares will be notified by email or push notification.

You’ll be required to pick up the outstanding BUY contract by T+2 before 11pm failing which we will execute force selling in the morning of T+3.

Please be informed that the process below shall be put into effect with tentative date on 18-July-22.

In the event that you selected the pick-up option for outstanding purchase and sold at the same time, Rakuten Trade shall prioritize the process to contra/knockoff your outstanding purchase against your sell. The remaining outstanding purchase shall be settled against the availability of cash balance. 

Example below is for illustration only and the contract value does not involve brokerage, stamp duty and clearing fees.
-You are having existing T+2 Maxis outstanding purchase for 5,000 units, purchase price of RM1 with contract value RM5,000.00
-You selected the pick-up option for your T+2 outstanding purchase at the end of same trading day
-You sold the same T+2 outstanding purchase with 4,000 units on the same

Rakuten Tarde will contra/knockoff your 4,000 units of outstanding purchase against your sell. The remaining outstanding purchase with 1,000 units shall be settled against the availability of cash balance.

Unfortunately no as the system will earmark the force sell quantity automatically.

We will assist ONLY pickup request below with the condition:

1: If you had sold the outstanding shares partially on T+2, you may write us an email before 11.59PM on T+2 to request for pickup the remaining outstanding units.

2: If any system malfunctions and you may write us an email before 11.59PM on T+2 to request for pickup the outstanding units with the screenshot as evidence

 

A Contra Account allows you to buy shares based on available cash and/or collateral shares value after hair cut at a higher multiplier depending on type of counters intended to buy.
Outstanding purchase(s) need to be settled within 2 (two) trading days after the transaction date (T)

Unfortunately no. Please log into your dashboard, select “MY ACCOUNT” > “Contra” > “OUTSTANDING” > “PICKUP STOCK” > Select and mark the outstanding purchase(s) you wish to settle > Click “CONFIRM” to complete the settlement process. Please note that Rakuten Trade pickup rules will always be based on “Current Cash Balance” on Member Screen.

 Only cash and /or shares can be used as collateral.

- Cash collateral value 100% (no hair cut)

 - Main Market collateral value 80% (20% hair cut) **

 - ACE Market collateral value 50% (50 % hair cut) **

- Warrants, ICULS, REIT’s collateral zero value (no value)

 ** subject to internal valuation of the individual stock

 

 

 For example,

 · Cash RM10,000 = RM10,000 in collateral value

 ·  Main Market shares RM10,000 = RM8,000 in collateral value

 ·  As such your collateral value is RM18,000

 

The trading limit is determined by the multiplier of the intended share purchased, set at 1 time, 3 times or 5 times on top of the trading limit derived from cash collateral value and/or collateralized securities.

 

 For example,

·  Total value of cash + collateralized shares value after price capping = RM18,000

·   Intended share purchased provide 5 X multiplier = RM18,000 x 5 = RM90,000

·   As such you will be entitled to RM90,000 trading limit.

Only selected shares on Bursa Malaysia FTSE 100 will qualify for a 5X multiplier.  You can check the shares multiplier at “STOCK INFO” and in “order pad”.

Rakuten Trade Contra Account clients are unable to trade the following:

·  LEAP

·  All ETF

·  Loan bond

·  Warrants

 Your Contra Account trading limit can be increased by depositing additional cash and/or transferring shares into the account as collateral.

Outstanding purchase Contract settlement must be made on/before the second market day (T+2) before 11pm.

Your outstanding buy contract will be force sold on the third market day T+3 morning. 

No. Payment for outstanding buy must be made by the second trading day (T+2) before 11pm, otherwise unsettled outstanding buy will be force sold on the third trading day (T+3) in the morning.

 Note: T-day in this context is the day you bought the stock.

Yes. You may pick and choose to settle certain outstanding purchases latest by second trading day (T+2)

 Note: T-day in this context is the day you bought the stock. T+2 is two (2) trading days after you have bought the stock.

No. Please log into your dashboard, select “MY ACCOUNT” > “Contra” > “OUTSTANDING” > “PICKUP STOCK” > Select and mark the outstanding purchase(s) you wish to settle > Click “CONFIRM” to complete the settlement process. Please note that Rakuten Trade pickup rules will always be based on “Current Cash Balance” on Member Screen.

Notes:
Current Cash Balance: The latest snapshot of the Cash Balance of a trading account.

 

Currently, our realized profit and loss will only display maximum to last 18 months of your transactions meaning average price of that particular share since day 1 you buy that share, nothing to do with your contra transaction.

All Contra account holders are required to pick up the outstanding BUY contract by T+2 11pm failing which we will execute forceselling on the morning of T+3 (next trading day). 

Please log into your dashboard, select “MY ACCOUNT” > “Contra” > “OUTSTANDING” > “PICKUP STOCK” > Select and mark the outstanding purchase(s) you wish to settle > Click “CONFIRM” to complete the settlement process. Please note that Rakuten Trade pickup rules will always be based on “Current Cash Balance” on Member Screen.

Yes. There will be an email notification sent to you at 5 A.M on T+3 for client to deposit and email customer service before 8 A.M to give instructions for manual pick up.

We will utilize the available cash and/or force sell the shares in your Cash Upfront Account (if available) on the sixth trading day (T+6) from the transaction date of the outstanding purchases. A Letter of Demand will be issued on the seventh trading day (T+7) if there is/are unsettled outstanding Contra losses.

 

Note: T-day in this context is the day you bought the stock.

 An interest charge of 6% per annum on the outstanding Contra loss will be charged until the amount is fully settled.

 You can view your contra gain or contra loss at the end of the trading day by viewing your contra statement, available on our website.

 The force selling timing is at Rakuten Trade's discretion and timing. It will force sold, though,  on T+3. 

In the event of unforeseen issues, force sell timing may be delayed. 

Contra account will be contra off based on First In First Out (FIFO), prioritize the outstanding shares over the paid shares and will be offset at the end of trading day.

For share pick up, the system will prioritize contra losses first. Therefore, contra losses will be deducted FIRST (if any) from your available cash balance and the remaining will be used to offset your outstanding shares. 

For share pick up, the system will prioritize contra losses first. Therefore, contra losses will be deducted FIRST (if any) from your available cash balance and the remaining will be used to offset your outstanding shares that you chose to pickup.

Yes. There will be an email notification sent to you at 5 A.M on T+3 for client to deposit and email customer service before 8 A.M to give instruction for manual pick up. 

We will do manual pick up your outstanding share(s).

Contra gain / loss means when the outstanding buy(s) is/are sell off to the market before settlement date and/or force selling which may result in either gain or loss.

Contra gain or contra loss will increase or decrease the trading limit respectively in real time during the trading hours.

You may view or download "SET-OFF STATEMENT" at the end of the trading day from our web trading platform.

Go to “MY ACCOUNT”

Click on “MY STATEMENT”

Select “Setoff Statement” at Document Type and click the “Show” button

Finally, select “view” or “download” statement.

Contra gain will be credited into your account after 2 (two) trading days upon selling (T+2) the outstanding buy contract(s).
Cash balance will be automatically deducted from your cash balance available when there is/are contra loss occurred after selling the outstanding buy contract(s).