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Obalende
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How long does it take after the execution of transactions before it appears in an investors cscs accout? 24hrs, 48hrs???
Thanks.
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NextProdigy (m)
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T + 3 days thats transaction day + 3 working days. Let's say today is the transaction day 3/1/08 thur, fri, mon and tue so it reflects on 8/1/08.
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prosperup (m)
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Hello house,
I sent my share certificates for verification so that they could be deposited in my CSCS account via my stock broker.
I sent them since July and have been verified by the CSCS but up till now i haven't got my stock position from the CSCS.
Whenever i go to the stock broker to find out about the status i'm told that the stock position is not ready yet.
Please how long does it take to convert my certificates to electronic?
I am afraid if maybe the stock broker has sold my shares without my knowledge.
And how do i contact the CSCS to verify my stock position?
PLS HELP
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walcolm (m)
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Hello house,
I sent my share certificates for verification so that they could be deposited in my CSCS account via my stock broker.
I sent them since July and have been verified by the CSCS but up till now i haven't got my stock position from the CSCS.
Whenever i go to the stock broker to find out about the status i'm told that the stock position is not ready yet.
Please how long does it take to convert my certificates to electronic?
I am afraid if maybe the stock broker has sold my shares without my knowledge.
And how do i contact the CSCS to verify my stock position?
PLS HELP
i understand CSCS does not give the free monthly stock position again. i think they are trying to coerce everybody into registering for the online access, the online access cost 2500 naira per annum and it allows you to log on and view your stock position. you can see your stock position with any stockbroker so long as you know your CSCS account no and/or CHN no. you can visit the CSCS webpage for information on how to register. it should be quite easy for you if you are based in lagos if your stockbroker has sold your shares without your consent as you fear, you can make him pay by lodging a complaint wit the SEC. he has a lot to loose if he is investigated regards |
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akingold2
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It is very interesting to read that shares certificates verification takes 1 month. Obviously this applies to only honest stockbrokers because I have submited uba shares certificates for verification since june 2007 and nothing has been done according to cashcraft asset management company that ismy stockbroker.
It is sad to state that most of these stockbrokers are not alive to their responsibiity and the way most of them operate make them little better than registered scam. Sell or buy orders are executed 6weeks after the order is placed if they are executed at all. Though this experience is mainly with Cashcraft I doubt if the others are different. If there is one that execute orders promptly and within 48 hours pls let me know.
It is also important to note that the NSE as a regulatory body is not alive to its responsibility. It keeps crediting itself with tremendous sucesses when in practise it is a a lame duck. For example there are companies on the stock exchange that have not declared any end of the year result for the last 3 years and yet NSE is allowing them to raise money from the capital market. What about allotment that is taking close to 1 year and yet there is no hope that buyers of this share will ever be credited -the money may even be returned-but the NSE just sat there and attributing doctored achievements to itself. We have to acknowledge if there is any achievement by the stock exchange it is due to artificial doctoring and not from market forces.
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NextProdigy (m)
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It is very interesting to read that shares certificates verification takes 1 month. Obviously this applies to only honest stockbrokers because I have submited uba shares certificates for verification since june 2007 and nothing has been done according to cashcraft asset management company that ismy stockbroker.
It is sad to state that most of these stockbrokers are not alive to their responsibiity and the way most of them operate make them little better than registered scam. Sell or buy orders are executed 6weeks after the order is placed if they are executed at all. Though this experience is mainly with Cashcraft I doubt if the others are different. If there is one that execute orders promptly and within 48 hours please let me know.
It is also important to note that the NSE as a regulatory body is not alive to its responsibility. It keeps crediting itself with tremendous sucesses when in practise it is a a lame duck. For example there are companies on the stock exchange that have not declared any end of the year result for the last 3 years and yet NSE is allowing them to raise money from the capital market. What about allotment that is taking close to 1 year and yet there is no hope that buyers of this share will ever be credited -the money may even be returned-but the NSE just sat there and attributing doctored achievements to itself. We have to acknowledge if there is any achievement by the stock exchange it is due to artificial doctoring and not from market forces.
I've been using Santrust Securities Ltd since 2003 or 2004 and I've not had even one reason to be sorry for it. I place others and it is executed the same day if the mandate comes in early enough but they get it done latest on the next working day. It's News to me when i hear people having these issues. I also get my stock position, statement of account, stock valuation and all other information i need from them via their website without paying a single dime. Hope your experience changes with your brokers but if not, come on over to the other side. |
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akingold2
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what is Santrust Securities Ltd address, phone no,.
are they online.
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oore (m)
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How long does it take after the execution of transactions before it appears in an investors cscs accout? 24hrs, 48hrs???
Thanks.
@Obalende and All I beg to disagree with the T+3 day for transaction to be reflected on the investors account. Theoretically, this is what is written. However, I know that whenever a transaction takes place on your account, it is reflected in less than 24Hrs as a pending action. You can see this if you have on-line access. It will be finally consumated in T+3 days. so APPEARANCE on investor's account is almost immediately that day but you will see it next day - The computer experts can explain the delay to see it. Certifcate verification varies from broker to broker as well as the company to company shares. If the shares have been listed on NSE it could reduce to less than 2 weeks with efficient broker and good company registrar provided you do not have irregular signature or personal data. |
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