Cash Advance
With the abilities of quickly and timely providing funds, VDSC always meets the demand of capital re-use from the customers. We co-operates with the banks to support clients using their cash by selling securities immediately instead of waiting for cash in T+2.
Customers who have securities transactions on previous or during trading days but have not received money from sales in accordance with current clearing payment regulations.
- Proceeds from the sales of securities after the transactions will be automatically added to customers' purchasing power and withdrawn ability after fees and taxes deduction.
- If customers use the proceeds to buy securities, withdraw/transfer or pay off debt obligations ... at the end of the day, the system will automatically generate cash in advance for securities transactions corresponding to the amount used.
- If customers use margin trading:
+ If Debt balance > Ability to recognize debts: the system will automatically generate cash in advance for securities transactions to collect debt until Debt balance = Ability.
+ If Margin contract cum Creadit contract is expired but not allow to extend: The system is toautomatically compute and sell corresponding stocks to collect debt. - System automatically collect debt in the clearing day
- Fee of cash advance: Fee schedule.
Cash advance fee = Cash advance amount * Fee * Amount of days |
- Cash advance amount is the mount of money used
- Fee: determine timely
- Amount of day is the real days from the time clients receive cash advance to the clearing day.
- Can use this service right after the stock is sold
- Can take it partially or fully from the selling cash, the minimum fee is not determined
- Take exactly the amount that clients need, economically save money for clients.
- No documents required