(1) 以Settlement Date計算Trust
A/c Balance.
此情況適用於個別客戶,他們都是因為受了証監挑剔,但不作確認問題所在,經猜測可能
是Trade day與Settle day之分別,經POP改為以Settlement
Day計算,至本文發出日未再
有意見. 因為未經確認,所以這安排是以個別個案處理,即客人受到証監挑剔才修改.
以下是各式各樣交易而影響客戶結餘之情況,POP系統依可行的情況,判斷TRUST
A/C BALANCE
的數據,用戶有可能發覺,結餘可以比實際大,例如上一天買入股票,理應在T+2可以扣除TRUST
A/C BALANCE,但系統卻在下天才正式表示應扣之數字,這是甚麼原因呢?
請大家參考以下程序
--------------------------------------------------------------------------------
T+0
T+1 T+2
T+3 T+4
T+5
--------------------------------------------------------------------------------
bought Hold Hold
Withdrawal Bank Out
sold Hold
Hold 1 Day Cr 2 Days Cr
Deposit Bank In
payment Withdrawal BankOut
receipt 1 Day Cr 2 Days Cr Deposit
Bank In
--------------------------------------------------------------------------------
Bought Amount withdraw from Trust A/C on T+3
just like Payment Amount withdraw from Trust A/C on T+1
大家可以看到,買入股票後,系統亦會在T+3才扣TRUST A/C BALANCE,沽出股票會在T+5才影響
BANK BALANCE, 這是會計原理的一致性, 並無不妥. T+5是因為在SETTLEMENT
DATE後實收數
再容許3天計(証監限制為4天,但系統在第四天才通知就會令您犯規了,所以要在第三天通知
您過帳至TRUST A/C)
有關用戶提出在T DAY 買入應該可以在T+1與Cr Balance對消的問題,是與會計原理的一致性
有衝突的, 目前POP系統不會按個別人氏來處理不同計法,以保此系統可以通過監管的要求.
(2) 以Trade Day 計算Trust A/c
Balance.
這是標準的設定,如不事先聲明,將以此為計算基礎,原理摘自原文如下:-
1. The Trust A/C Report is applicable to "Margin" &
"Custodian" Clients.
"Internal" Clients are also included. But
"Cash" Clients are not included
2. On each day, the daily NET Debit/Credit amount of the above types of
client will be processed.
3. Internally, SB keeps track of 2 days credit amount and the trust a/c
amount.
4. If the daily NET amount is debit, this debit amount will be deducted from
the 1st day credit amount. If the 1st day credit amount is not
sufficient,
the 2nd day credit amount will be deducted also.
If the 1st & 2nd day credit amount are not sufficient, the
trust a/c amount
will be deducted accordingly, which implies "Fund transfer
from Trust a/c
to current bank a/c".
5. Next, if there is 2nd day credit amount, the 2nd day credit amount will be
added to trust a/c amount, which implies "Fund transfer from
current bank
a/c to trust a/c".
6. The 1st day credit amount will then be moved to 2nd day credit amount.
7. If the daily NET amount is credit, this amount will be moved to 1st day
credit amount.
8. SB counts banking days (Monday to Saturday) in determine the days of a
credit amount held.
9. User performs fund movement on next banking day according to current day
"Trust A/C Report"
Example:
Case 1, Receive a fund and held 4 days
One day Two days Trust A/C
Credit Credit Amount
------- -------- ---------
T+0 day (Mon) Receive 60,000.-
60,000.-
T+1 day (Tue) no B/S/P/R trans
60,000.-
T+2 day (Wed) no B/S/P/R trans
60,000.-
T+3 day (Thu) Transfer fund 60,000.- from Bank C/A to Bank Trust A/C.
------------------------------------------------------------------------------
Case 2, Receive a fund and buy stocks
One day Two days Trust A/C
Credit Credit Amount
------- -------- ---------
T+0 day (Mon) Receive 100,000.-
100,000.-
T+1 day (Tue) Buy 30,000.- stock
70,000.-
(the 1 day Credit was deducted and
remained 1 day credit amount was
moved to 2 days credit)
T+2 day (Wed) Buy 20,000.- stock
50,000.-
(the 2 days Credit was deducted and
remained 2 days credit amount was
added to trust a/c)
T+3 day (Thu) Transfer fund 50,000.- from Bank C/A to Bank Trust A/C.
------------------------------------------------------------------------------
Case 3, Receive a fund and buy stocks and client balance become debit.
One day Two days Trust A/C
Credit Credit Amount
------- -------- ---------
T+0 day (Mon) Receive 100,000.-
100,000.-
T+1 day (Tue) Receive 50,000.-
50,000.- 100,000.-
(the 1 day Credit was moved to
2 days credit)
T+2 day (Wed) Buy 130,000.- stock
20,000.-
(fist 1 day credit was deducted,
and next 2 days credit was deducted,
remained 2 days credit amount was
added to trust a/c)
T+3 day (Thu) Transfer fund 20,000.- from Bank C/A to Bank Trust A/C.
T+3 day (Thu) Buy 40,000.- stock
(Client balance become debit, the
trust a/c amount was deducted)
T+4 day (Fri) Transfer fund 20,000.- from Trust A/C back to Current A/C.
------------------------------------------------------------------------------
NOTE: Print "Trust A/C Report" on Saturday
====================================
If fund is received from a client (either by "R" or
"S" transactions),
SB will start to count credit days effective from the T-day, and
on the 3rd banking day such fund will be indicated to be deposited
to the "Trust A/C". User uses this report to determine the fund
transfer
between Current A/C and Bank Trust A/C.
To follow the rule exactly, the Trust A/C Report printed on Friday
should be used on Saturday. And on Saturday and after SB was System End
as at Friday, user needs to re-print the Trust A/C Report and uses this
report on Monday.
Example 1: on 1 July 1996, a margin client deposit an amount 1000.-
Day
Date
Week Count
--------------------------
1 July 96 Mon
1
2 July 96 Tue
2
3 July 96 Wed
3 indicate to deposit 1000 to "Trust A/C"
4 July 96 Thu
4 please transfer 1000 from "Current A/C"
into the "Trust A/C" as indicated by
3 July "Trust A/C Report"
Example 2: on 4 July 1996, a margin client deposit an amount 2000.-
Day
Date
Week Count
--------------------------
4 July 96 Thu
1
5 July 96 Fri
2
6 July 96 Sat
3 indicate to deposit 2000 to "Trust A/C"
7 July 96 Sun
8 July 96 Mon
4 please transfer 2000 from your "Current A/C"
into the "Trust A/C" as indicated by
7 July "Trust A/C Report"
BUT if user forget to print
"Margin Client Trust A/C Report" on
Saturday 6 July 96,
the "indication to deposit 2000 to "Trust A/C"
will be appeared on
8 July 96 !!
Example 3: on 4 July 1996, a margin client sold a stock with amount
3000.-
Day
Date
Week Count
--------------------------
4 July 96 Thu
1 Settlement Date is 8 July 96
5 July 96 Fri
2
6 July 96 Sat
3 indicate to deposit 3000 to "Trust A/C"
7 July 96 Sun
8 July 96 Thu
4 please transfer 3000 from your "Current A/C"
into the "Trust A/C" as indicated by
6 July "Trust A/C Report"