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Selftrade not allowing a particular stock transfer

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Holts
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Selftrade not allowing a particular stock transfer

#193349

Postby Holts » January 14th, 2019, 8:29 am

Unfortunately my full service broker has had to introduce a high fixed yearly account charge and I am having to transfer stock to Selftrade .

Its all fixed interest stuff , one of which is Skipton PIB 12 7/8 , which they claim they can not accept , these are LSE quoted unlike the Principality I hold which are Lux and they allow those , so I am unsure why they should not be accepting them , I will be telephoning them but just want to be armed with as much info as possible before hand , any thoughts ? They do trade in the other Skipton PIB so it seems odd .

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Re: Selftrade not allowing a particular stock transfer

#193368

Postby GoSeigen » January 14th, 2019, 9:40 am

Holts wrote:Unfortunately my full service broker has had to introduce a high fixed yearly account charge and I am having to transfer stock to Selftrade .

Its all fixed interest stuff , one of which is Skipton PIB 12 7/8 , which they claim they can not accept , these are LSE quoted unlike the Principality I hold which are Lux and they allow those , so I am unsure why they should not be accepting them , I will be telephoning them but just want to be armed with as much info as possible before hand , any thoughts ? They do trade in the other Skipton PIB so it seems odd .


It's PIBS, "permanent interest-bearing shares", not PIB.

Based only on what you have written above, I can't see any reason why there should be a problem -- perhaps it's a simple mistake or misunderstanding? How about emailing them, instead of telephoning, and ask for a written explanation. Then quote their reply here and we can make a judgement.


GS

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Re: Selftrade not allowing a particular stock transfer

#193422

Postby GoSeigen » January 14th, 2019, 12:22 pm

GoSeigen wrote:How about emailing them, instead of telephoning, and ask for a written explanation. Then quote their reply here and we can make a judgement.


Perhaps I should clarify why I suggested writing: because Selftrade's telephone CS staff seem to be pretty clueless and may just waffle something meaningless, whereas a written reply will need to be reasonably robust or if not, can easily be challenged...

GS

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Re: Selftrade not allowing a particular stock transfer

#193444

Postby PeterGray » January 14th, 2019, 1:10 pm

The Skipton 12 7/8th PIBS do not appear to be tradeable on my Selftrade account. I've no idea why, but the reasons probably go further than a simple error with your account

IanSmithISA
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Re: Selftrade not allowing a particular stock transfer

#193464

Postby IanSmithISA » January 14th, 2019, 3:00 pm

Good aftternoon,

If you go to

https://www.londonstockexchange.com/exc ... &q=skipton

You will see that SKIP is reported as being on Trading service:Fixed interest (SEAQ)

whilst the others are on Trading service:Fixed interest (Trade reporting Only)

I don't use Selftrade so I can't tell you if this is important or not, can you trade other SEAQ traded shares? :D :D

From https://www.lseg.com/areas-expertise/ou ... ces/setsqx

SEAQ
SEAQ is London Stock Exchange's non-electronically executable quotation service that allows market makers to quote prices in a number of fixed interest securities.


Bye

Ian

Holts
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Re: Selftrade not allowing a particular stock transfer

#193524

Postby Holts » January 14th, 2019, 7:34 pm

GoSeigen wrote:
GoSeigen wrote:How about emailing them, instead of telephoning, and ask for a written explanation. Then quote their reply here and we can make a judgement.


Perhaps I should clarify why I suggested writing: because Selftrade's telephone CS staff seem to be pretty clueless and may just waffle something meaningless, whereas a written reply will need to be reasonably robust or if not, can easily be challenged...

GS



Thank you for both replies, I was aware of the Shares part but being sloppy in my input .

I will be writing , will also need to telephone them as their letter notes a time limit after which they will cancel the whole transfer and the chances of receiving a reply within their limit is slim , I suspect it will be necessary to get past their frontline staff anyway to get a reply .

Holts
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Re: Selftrade not allowing a particular stock transfer

#193525

Postby Holts » January 14th, 2019, 7:40 pm

IanSmithISA wrote:Good aftternoon,

If you go to

https://www.londonstockexchange.com/exc ... &q=skipton

You will see that SKIP is reported as being on Trading service:Fixed interest (SEAQ)

whilst the others are on Trading service:Fixed interest (Trade reporting Only)

I don't use Selftrade so I can't tell you if this is important or not, can you trade other SEAQ traded shares? :D :D

From https://www.lseg.com/areas-expertise/ou ... ces/setsqx

SEAQ
SEAQ is London Stock Exchange's non-electronically executable quotation service that allows market makers to quote prices in a number of fixed interest securities.


Bye

Ian


Thanks for thought , I can trade other SEAQ items , NOTP for example .

Holts
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Re: Selftrade not allowing a particular stock transfer

#193528

Postby Holts » January 14th, 2019, 7:42 pm

PeterGray wrote:The Skipton 12 7/8th PIBS do not appear to be tradeable on my Selftrade account. I've no idea why, but the reasons probably go further than a simple error with your account



No , never been able too , the lower coupon version on the other hand not a problem .

Holts
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Re: Selftrade not allowing a particular stock transfer

#195231

Postby Holts » January 21st, 2019, 11:20 am

GoSeigen wrote:
GoSeigen wrote:How about emailing them, instead of telephoning, and ask for a written explanation. Then quote their reply here and we can make a judgement.


Perhaps I should clarify why I suggested writing: because Selftrade's telephone CS staff seem to be pretty clueless and may just waffle something meaningless, whereas a written reply will need to be reasonably robust or if not, can easily be challenged...

GS


update

Spoke to Selftrade they advise can not be settled in Crest .

Contacted Skipton Treasury , they thought they could be settled in Crest but referred me to Registrar Link in Beckenham , they could not tell me if they settled in Crest or not , their waffle was worse than Selftrade .


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