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Clairabella wrote: »
Please can someone tell me if my money is protected at the value on the day of administration or will I receive what the shares are worth when this is finally all sorted?
ascension92 wrote: »
I understand what you are saying, but LC indicate that open trades would be in "default" if my trade was settled there and then I will have the shares which is my preferred option. How long does it take these days to clear and settle trades. Back in the 80's when I had my first stab at stocks and shares clearing used to take 10 days, slate and chisel as apposed to computers.
There have been other posters who have paid in money who presumably are in a worse or similar situation to me, with LC saying they are supplying LSE with information on any open trades I thought from an LSE standpoint where the other side of the trade has been "let down" we might have heard from LSE. If anyone does get any contact maybe they would post it, other than that I will take you advice on other posts and wait for LC to advise later this month.
masonic wrote: »
Are you sure "open trade" means what you think it means? It's a term normally used in the discussion of spread betting / CFDs / short selling in which a position is opened, and then closed at a later time.
If you were trading using CFDs, which SVS did offer, and had open positions, then the statement in the FAQ document probably does apply to you.
Settlement for normal market trading was T+2 at SVS the last time I traded, which was a few years ago.
masonic wrote: »
Company representatives need permission to post here leonam
leonam wrote: »
I would love it if you would be up for giving us some feedback
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