Market contingencies
IEC - Market contingencies
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Portal-Investment
Article
01/04/2016
Market contingencies
- I have made a purchase transaction via a brokerage. Do I need to honour and settle the transaction?
If the stock market is closed after a stock has been purchased, you are still obliged to settle the transaction.
- I have deposited some share certificates with a brokerage to sell them. Can I get them back?
Yes, you can get the share certificates back from the brokerage if your sale transaction has not been executed.
- I have made a sale transaction. Will I get back my proceeds on T+2?
In general, CCASS settlement will be terminated after the closure of the stock market. In such circumstance, the closure day(s) may not be treated as a settlement day for the purpose of determining T+2 settlement. As a result, you may not get back the sale proceeds on the original settlement day.
- I placed orders through Internet with the brokerage. Can I cancel them as the market is now closed while the day of resumption remains unknown?
Orders can only be cancelled if they have not been executed on the market. Hence, you should clarify immediately with your brokerage whether your orders have been executed.
