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Open Account

A BRIEF GUIDE TO SECURITIES TRADING

A. Types of Securities Account in Minna Padi

- Reguler Account
where all potential customer neither individual or institutional can open a reguler account by sending to Minna Padi all the opening account form and all necesarry document. After the account is open, customer can place order to buy or sell the securities that is registered in Indonesia Stock Exchange. The process will be take up to 7 business days after all document completed. Opening account form can be downloaded in www.minnapadi.com or can be requested trough Minna Padi Customer Service.

- Margin Account
is an account where customer can borrow the fund from Minna Padi to buy the securitiws which has been approved by Minna Padi. Margin Account can be opened by customer who have reguler account minimum 3 months and have good record according to Minna Padi judgment. Please contect our customer service  for terms and conditions if customer  is interesting to open margin account.

B. Trading Procedures

  1. Customers are obliged to deposit funds amounting to a minimum of 100% (one hundred percent) of buying value "in good fund" and/or deposit collateral stocks considered liquid and valuable before the order is executed. Funds deposit or stocks collateral will be used to set Customers trading limit.
  2. For buying transaction, Minna Padi will debit Customers’ Fund Account (known as rekening dana nasabah/RDN)on T+3 the amount written at Transaction Confirmation (securities value + transaction cost). Therefore the Customers is obliged to have their funds ready on Customer’s Fund Account before T+3 on 12.00 am. For selling transaction, Minna Padi will transfer the sales proceeds to Customers’ Fund Account on T+3 the amount written at Trade Confirmation (securities value – transaction cost).
  3. Minna Padi will charge Customers with minimum daily transaction cost on buying and/or selling transactions which amount is subject to terms applicable at the Company, in the event Customer transaction cost is lower than minimum daily transaction cost.
  4. For buying transactions, if payment from Customers is not received on T+3 before 12.00 am, Minna Padi has absolute right to liquidate (Forced Sell) the securities in Customers’ account starting on T+5 at whatever price to cover Customers obligation including all the charges Customers are responsible of.
  5. Late charges will be counted until Minna Padi receives funds from liquidation as mentioned at no. 4 above. Penalty charged will be 0,1% daily from total transaction or as terms applied by Minna Padi.
  6. Basically Minna Padi does not allow Short Selling transactions. In case such activies are found, Minna Padi has absolute right to buy back the securities and all costs and risks will be Customers’ responsibility, in order to cover the negative balance (short position). Customers who do not fulfill part of or whole obligation to deliver the securities are obliged to replace it with the obligation to deliver funds to Company in the minimum amount of 125% (one hundred and twenty five percent) of the highest price of the same securities which occur in :
  • Negotiation Market and Cash Market on same settlement day; or
  • Cash Market which occurs on first session on the mentioned settlement day (whichever higher)

C. Transaction Confirmation

  1. All Transaction Confirmations related to buying and/or selling the securities on the day will be confirmed to Customers by recorded phone or others electronic media on same day (T+0). In case Customers prefer (with written request), the confirmation to be sent through post or courier, it will be sent on the next day or T+1. Minna Padi does not allow handing over the mentioned written confirmation through Minna Padi salesperson in charge of serving the Customer. 
  2. The Transaction Confirmation contains information on date of transaction, date of settlement, transaction details, number of shares, name of shares, price, commission, transaction cost and net transaction amount. In case within 1 x 24 hours since the receipt of the Transaction Confirmation, Customers do not appeal for objection, Customers are considered to agree with the content of the Transaction Confirmation even if they do not sign the Transaction Confirmation. The Transaction Confirmation is considered as replacement of purchase order and Customers are considered to agree with the amount, shares, price, and settlement date witten on the Transaction Confirmation.

D. Transaction Payment

All payments on Customers' buying transaction have to be paid to Customer’s Fund Account (Rekening Dana Nasabah) registered at Minna Padi the latest on T+3 before 12 am. The Customers must send the proof of remittance on the same day to Minna Padi.

Disclaimer

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