GBS-MIC User Guide draft- Ver 2.000

Transcription

1 GBS-MIC User Guide

2 Table of Contents Topic Page Introduction... 1 What Makes GBS-MIC Special?... 2 I...To Open a GBS-MIC Online Trading Account... 3 II....Accessing the GBS-MIC Application... 4 III....First Time Users... 6 IV....Helpful Tips... 8 V....Quick Steps to Trade... 9 VI....Watch List o To View the Price List o To Add Securities to the Watch List o To Open an Existing Watch List o To Delete an Existing Watch List o To Delete an Existing Security in the Watch List o To Refresh the Watch List o To Insert an Alert o To View the Order Book o To View the Intra-day Chart o To View the Executed Trades o To View the Odd Lot Market Book o To View the Forward Market Quotation o To View the Forward Market Statistics VII...Order Entry/ Order Status o To Enter Orders from the Watch List Section o To Enter Orders from the Security Search Section o To Enter Orders from the Portfolio Section VIII..To Cancel Orders IX....To Modify Orders X....Customer Portfolio Table of Contents cont 2

3 Topic Page XI....Historical Reports o Order List Report o Security Transaction List Report o Cash Transaction List Report XII...Cash Transfer In/Out Notification XIII..Logging Out of the GBS-MIC Account XIV..Market News, Financial Analysis, and Charts XV...Frequently Asked Questions

4 INTRODUCTION GBS-MIC provides the customer a friendly online trading service within Kuwaiti Stock Exchange Market, GCC Stock Markets, Euro Stock Market, and U.S. Stock Market all from only one portfolio and one screen. The customer can manage his own investments at anytime anywhere, where the application offers real time quotes, charts, and the latest financial analysis and market news. GBS-MIC aims to provide its customers a diverse array of securities trading, information management, and portfolio management. Its challenge lies in anticipating the changing needs of the GBS-MIC customers. This application is highly focused on meeting the customers expectations by delivering the highest quality products and services as well as efficient operating environment. GBS-MIC system is designed to accommodate high order volumes while delivering up-to-date information. The cornerstones of the GBS-MIC solution are reliability, efficiency, and flexibility. This online trading service offers GBS-MIC customers complete control of the processes and safeguard the confidentiality of the customers' accounts. 1

5 WHAT MAKES GBS-MIC SPECIAL? Brokers not answering your calls? No need to call brokers anymore! GBS-MIC is an online trading service, where the customer places buy/sell orders and has full control on his portfolio. Tired of carrying your laptop with you for placing orders? Not anymore! GBS-MIC is a web based service. It is not an application that needs to be downloaded on a machine. The customer can log into the GBS-MIC trading account from any computer connected to the internet! Orders can be placed from the everywhere, and the customer will be updated on his orders via SMS. Can't keep up with prices? With the multi- feature, the GBS-MIC customer may create unlimited s and customize them too! This makes it easier on the customer to follow and manage the price list. Interested in the US stock market? With GBS-MIC the customer can trade within local and global stock markets all from one platform! No time for currency exchange? With the multi-currency feature, the GBS-MIC customer may trade in global stock markets with his available currency. Missing securities in your portfolio? You do not have to miss them anymore! With GBS-MIC, the customer may trade within global stock markets from only one portfolio. GBS-MIC displays all securities in the same portfolio regardless of which stock market the customer has purchased them from. Forgot to collect your dividends? Don't worry at GBS-MIC both cash and stock dividends are automatically inserted into the customer's online trading account. Busy day tomorrow? No time to place orders? At GBS-MIC the customer can place orders anytime! You can place an order at night, close your computer, and go to sleep. Your order will immediately be sent to the stock market the next morning. The customer will be alerted by SMS and on his order status. Closing screens unintentionally? Not anymore! The GBS-MIC application displays all information in one screen. The customer can view the watch list, place orders, and get access to his portfolio and reports all from only one screen. This gives the customer the opportunity to perform different tasks in parallel. 2

6 I. To Open a GBS-MIC Online Trading Account After receiving the customer's GBS-MIC Online Trading Application and Customer Agreement signed, the company will immediately the customer the Customer ID, Password, and PIN to the address specified by the customer in the GBS-MIC Online Trading Application after confirming that the customer has either deposited for instance a minimum of 500 KWD into the trading account or transferred securities worth of 500 KWD. The customer's portfolio shall not be less than 500 KWD at anytime after trading hours. When accessing the GBS-MIC Online Trading Application for the first time, a password change will be automatically requested. All passwords shall be eight characters long. As for the PIN, it shall be six characters long. It is advised that both the password and PIN are always kept in a safe place and changed on a regular basis. Note: Kindly note that the customer is asked for the Customer ID and the first, third, and fifth character of the password when calling Customer Relations Staff. 3

7 II. Accessing the GBS-MIC Application Access the GBS-MIC Online Trading Service by visiting our website at be defined]. Click on the [to be defined] icon. A Login Customer screen will appear as shown in figure 1. Enter your customer ID and password. Select the preferred language for display. Click on the icon to access your trading account. Figure 1: Login Customer screen to access customer's GBS-MIC account. Online Trading A Login Customer screen will appear as shown in figure 2. Click on Open Trading Platform. Figure 2: Login Customer Screen. 4

8 The GBS-MIC online trading platform is divided into three main sections: 1. Watch List 2. Order Entry/ Order Status 3. Portfolio Figure 3: GBS-MIC Online Trading Platform screen with the three different sections. Note: GBS-MIC application has a unique feature where ALL its services are available in ONE screen. This screen enables the customer to perform different tasks in parallel. GBS-MIC customers have access to the following services via one screen: Accessing different watch lists. Viewing both the order book and executed trades in the stock markets. Security analysis via the intra-day chart. Placing orders and checking on their status. Setting alerts for different securities. Viewing the portfolio. Getting real-time profit and loss. Viewing real-time streaming account balances. Accessing different historical reports. Referring back to figure 2, the customer may change his password and PIN from the Login Customer screen at anytime. This screen also offers market news and index charts provided by Reuters. 5

9 III. First Time Users o Funding the GBS-MIC Account The customer can deposit the cash in the MIC Company account via bank wire transfer or by check. Cash to be transferred to: MIC Company To be entered by MIC Example to be reviewed by MIC The customer must fax the deposit credit advice (with his/her Customer ID written on it) to the GBS-MIC Department. Fax no.xxxxxx. Note: this process is done the FIRST time the customer deposits cash in the MIC Company account. The customer must send a cash transfer-in notification via the GBS-MIC Trading Platform stating the deposited amount in the appropriate field (kindly refer to page 37). Note: this process is done EVERYTIME the customer deposits cash in the MIC Company account. If no internet connection is available, the customer may fax the deposit credit advice (with his/her Customer ID written on it). Fax no. xxxxxxx. o Password The GBS-MIC system will require a change of password in the customer's first login attempt. o Watch List The watch list will be empty as shown in figure 4. The customer must add securities to the watch list in order to see the prices, order book, intraday chart, and executed trades. Not saving the watch list will result in an empty price list in the customer's next login. 6

10 o Available Cash The available cash field shall display the amount (for instance: minimum 500 KWD) the customer has deposited to open the GBS- MIC Online Trading account. Kindly refer to figure 4. The available cash may be less than 500 KWD only in the case there are enough shares to total up the customer's portfolio to 500 KWD. Note: For the customer's GBS-MIC Online Trading account to be activated, the customer's portfolio (total of cash plus shares) must worth at least 500 KWD. Figure 4: GBS-MIC Online Trading Platform screen with the three different sections. 7

11 IV. Helpful Tips GBS-MIC is designed to execute orders on a timely manner and provide live quotes as well as other financial services to its customers. The following tips will help you achieve your trading goals much faster. 1. Always title the watch list (English characters) prior to adding securities. 2. Always save the watch list after modification is made. 3. If, for any reason, you have a doubt in the price data provided in the watch list, or if a price is missing, simply click on the company's title (from the watch list) where it shall provide you the same details yet from a different source, Reuters. 4. Always check the order status after inserting an order, requesting an order cancellation, or requesting and order modification. 5. Check the Details field (in the middle section) for order cancellation/modification refusal. 6. Allow 5 minutes (after inserting a new order) to pass for order modification/cancellation KSE only. 7. Refresh the available cash field for the most recent cash amount available. 8. After each cash deposit made to your GBS-MIC trading account (via MIC Company account), send a cash transfer-in notification. 9. If you have a slight doubt regarding the GBS-MIC application immediately call XXXXXX for assistance. 8

12 V. Quick Steps to Trade It takes only 7 steps to trade 1. Select the Security Account that will be used for trading. 2. Select the Cash Account linked with the Security Account previously selected. 3. Click on the icon next to the desired company. 4. Select the type of transaction (buy/sell). 5. Insert the quantity (numbers only with no commas). 6. Insert the price (in KWD; example: or 0.610). 7. Confirm (PIN is required). Figure 5: GBS-MIC online trading platform. Note: Kindly refer back to figure 5. For market trade execution, leave the limit price field empty. In other words, if you do not insert a price in field no. 4, your order will be executed immediately with market price. Leaving the price empty for BUY orders will result in an immediate trade execution with the market ASK price which is KWD as indicated in the red circle in figure 5. Leaving the price empty for SELL orders will result in an immediate trade execution with the market BID price, which is KWD as indicated in the red circle in figure 5 9

13 VI. Watch List o To View the Price List The price list may be viewed from two different screens: 1. KSE Screen Click on the icon as shown in figure 6. ( in some figures showed in the document, the KSE icon is showed as, but the mean is the same of ) A screen shall appear displaying a live snapshot of the current price list for the Kuwaiti Stock Exchange market as in figure 7. Figure 6: Watch list screen. Figure 7: KSE price list showing all listed companies in the Kuwaiti stock market. 10

14 2. The Watch List Screen Note: To view the price list, you will have to create your own watch list. Click on the icon to create a new watch list as shown in figure 8. Figure 8: Watch list screen. Note the icon for creating a new watch list. Type in a nickname for the watch list you are creating in the specified space as shown in figure 9. For example ahmad123, MIX, q80_company s, US Market, ********, Investments, etc. Figure 9: New Personal Selection screen, where the customer gives the watch list a title. Click on the icon. Notice the nickname of the watch list appearing in yellow in the upper left corner of the screen. After naming the watch list, save it by clicking on the icon. You may create unlimited watch lists in the same manner. o To Add Securities to the Watch List Click on Security Search and enter the company's specified data in the text box. You can choose to enter the company's full name, a part of the company's name followed by the "%" sign plus 3 chars( BAN%), ISIN code, internal code, or ticker. Make sure that the data inserted in the text box corresponds to the data type in the Search Criteria box. 11

15 Figure 10: Security Search screen. Figure 11: Security Search screen result. Click on the icon to search for the specified security. Click on the radio button next to the wanted security, and then click on the icon. Repeat the process as needed. After creating the watch list, save it by clicking on the icon. o To Open an Existing Watch List Click on the icon to choose the watch list you want to view. Click on the radio button next to the watch list. Click on the icon. The selected watch list shall be displayed in the first section of the GBS-MIC screen. 12

16 o To Delete an Existing Watch List Click on the icon from the watch list screen. A popup window shall appear where you shall confirm the deletion of the watch list. Figure 12: Watch list screen. o To Delete an Existing Security in the Watch List Click on the icon from the watch list screen, as shown in figure 13. The security along with its price data shall be deleted from the watch list. Save the watch list by clicking on the icon. Figure 13: Watch list screen. 13

17 o To Refresh the Watch List Note: The data in the watch list is real-time streaming. This includes real-time quotes and charts. You may force manually a data refresh in watch list by clicking on the icon. Figure 14: Watch list screen. o To Insert an Alert Note: The alert service allows the customer to stay active and updated while logged off the GBS-MIC online trading application. Click on Security Search to search for the security to which an alert needs to be added. Click on the radio button next to the wanted security. Click on the icon as shown in figure 17. Figure 17: Security Search screen, where an alert is placed for the selected security. Specify the expiry date, condition, price, and the method of alert. In case is chosen as method of alert, kindly provide the (must be same as provided in the GBS-MIC Online Trading Application). Click on the icon. 14

18 o To View the Order Book The order book can be viewed from three different screens: the watch list screen, security search screen, and the inserting orders screen (middle section) as shown in figures 18 and 19. Click on the icon and it will display the orders placed in the stock market along with the BID and ASK prices and quantities. Figure 18: Trading platform showing the order book in different screens. 15

19 Figure 19: Trading platform showing the order book in the security search screen. Figure 20: Order book displaying BID/ASK orders for the Kuwaiti Lebanese Real Estate Dev. Co. o To View the Intra-day Chart The intra-day chart can be viewed from two different screens: the watch list screen and the security search screen as shown in figures 21 and 22. Click on the icon. An intra-day chart will pop-up showing time versus quantity and price for every executed trade associated with the security. Kindly refer to figure

20 Figure 21: Trading platform showing the intra-day chart in the watch list screen. Figure 22: Trading platform showing the intra-day chart in the security search screen. Figure 23: Intra-day chart for Kuwait Real Estate Co. o To View the Executed Trades The executed trades can be viewed from two different screens: the watch list screen and the security search screen as shown in figures 24 and 25. Click on the icon. A screen shall be displayed showing the executed trades along with its quantity and price as shown in figure

21 Figure 24: Trading platform showing the executed trades in the watch list screen. Figure 25: Trading platform showing the executed trades in the security search screen. 18

22 Figure 26: Trading platform showing the executed trades in the security search screen. 19

23 o To View the Odd Lot Market Book The odd lot market book can be viewed from the watch list screen as shown in figure 27. Click on the icon, which is the letter O for Odd Lot, and it will display the odd lot market orders placed along with its BID and ASK prices and quantities. Figure 27: Trading platform showing the odd lot market icon in the watch list screen. An Odd Lot Market screen shall appear displaying all odd lot BID and ASK orders as shown in figure 28. You can place an odd lot ASK order by clicking on either the ASK quantity or ASK price of the desired security from the odd lot order list below. The middle section of the GBS- MIC platform shall display the data of the security chosen, where you should confirm the order. Figure 28: Odd lot orders (BID/ASK) screen. 20

24 o To View the Forward market quotation Note that Forward Market quotation will appear only if Forward Market is enabled in customer s Informational Profile. The Forward market quotation can be viewed from the screen as shown in figure 28.a. Click on the icon, which is the letter F for Forward, and it will display the Forward Market Price Page by Market Maker only as shown in figure 28.b. Figure 28.a: Trading platform showing the Forward market icon in the screen. An Forward Market Quotation screen shall appear displaying for each period (1,3,6,9 12 Months), Bid and Ask quotations for a particular Market Maker. You can place a Forward Market order by clicking on a specific period for the desired Stock. The order conditions applied will be the same that are showed in the screen (no data entry by customer). The middle section of the GBS-MIC platform shall display the data of the security chosen, where you should confirm the order. Figure 28.b: Trading platform showing the Forward market Quotation in the screen. 21

25 o To View the Forward market Statistics The Forward market statistic, related to the executed contracts, can be viewed from the screen as shown in figure 28.c (point 1 and 2). Click on the icon and it will display the Forward Market Contract Open Interest as shown in figure 28.d. Click on the icon and it will display the Forward Market Executed Trade as shown in figure 28.e. Figure 28.c: Trading platform showing the Forward market icon in the screen. Figure 28.d: Trading platform showing the Forward market Contract Open Interest in the screen. 22

26 Figure 28.e: Trading platform showing the Forward market Executed Trades in the screen. 23

27 VII. Order Entry/ Order Status You can place buy/sell orders to from three screens. 1. Watch List screen. 2. Security Search screen. 3. Portfolio screen. You can place buy/sell orders to Forward Market from two screens. 1. Forward Market Quotations screen. 2. Clicking on the desired Forward Contract showed. 3. Portfolio screen. o To Enter Orders from the Watch List Section Click on the icon as shown in figure 29. The system will display the name of the selected company along with its price data. This step is to ensure the customer of the correctness of security chosen. Figure 29: Trading Platform screen displays the necessary data after clicking on the buy/sell icon. Enter the wanted quantity and price in the appropriate space as shown in the figure above. Kindly keep in mind not to enter a "," for the quantity nor the price. Also note that the price is in KWD not Fils. Hence, make sure to enter a decimal point when specifying a price. For example, two-hundred Fils shall be entered as or 0.2 or.20 or.2 Note: Limit price is when the client sets his order (buy/sell) to a specified price. The order is executed at the limit price or better. 24

28 Regarding the Kuwaiti stock market, the limit price entered by the customer is based on the KSE Units Trading Table below. Table 1: Kuwaiti Stock Exchange Units Trading Table Select the time parameter. The time parameter sets the period of the order as follows: Today: Good till Cancellation keeps the order active till cancellation. The order may be cancelled by the customer or b by the stock market (in the case the order is not executed at the time the market closes). GTD: Good till Date keeps the order active for the period set by the customer. The customer must enter the expiry date for the order. Example of GTD: 1. The client enters an order on May 18 th, The client selects GTD for the time parameter. 3. The client enters the date as May 25 th, 2005 in the space provided. 4. The order will be sent to the market on a daily basis till it gets executed. Select the quantity parameter (if left empty, the order will be sent as a regular market order with no restrictions). The quantity parameter sets the types of orders that the customer may place as follows: FAK/IOC: Immediate or Cancel / Fill and Kill. It sends the order (buy/sell) to the market, where the available quantity in the market is executed immediately, while the remaining quantity (if any), inserted by the customer, is immediately cancelled. Example of IOC: 1. The client sends an order of to buy (BID) 100,000 shares. 2. The ASK quantity in the market is 40,000 shares. 3. Result: The executed amount of shares = 40,000 shares. 4. The remaining 60,000 shares will be cancelled immediately after the execution in step 3. 25

29 Note: Market Price is when the customer does not enter a price for the order (buy/sell). The order is executed based on the market price. In this case, the order shall be executed immediately selling on the Bid or buying from the Ask offered in the market. FOK: Fill or kill. It sends the order (buy/sell) to the market, in which the order must match the ASK/BID quantity to be executed, else it will be cancelled immediately; it does not wait for a matching order (no partial execution allowed). Example of FOK: 1. Client sends an order of to buy 100,000 shares. 2. The ASK quantity in the market is 40,000 shares. 3. Result: The order will be canceled immediately because the exact quantity (ASK) is not offered in the market. Odd Lot Market: Odd Lot Market allows the customer to place orders (buy/sell) of quantities less than the required quantities in the regular market. Kindly note the following rules regarding the odd lot market: In the case of a sell order, the inserted price of the odd lot order MUST EQUAL the last price in the regular stock market. In the case of a buy order, the inserted quantity (BID) of the odd lot order MUST EQUAL the "ASK" quantity in the odd lot market book. Forward Market: Forward Market allows the customer to place orders by clicking on the desired contract in the Forward Quotation page. The order conditions applied will be the same that are showed in the screen. The middle section of the GBS-MIC platform shall display the data of the security chosen, where you should confirm the order (no data entry by customer). Note: Kindly refer back to figure 28.b.bis You can place a Forward Market order by clicking in a specific period of the desired Stock. The order conditions applied will be the same that are showed in the screen. The order conditions applied will be the same that are showed in the screen. no parameters entry by customer for placing a order. 26

30 Figure 28.b (bis): Trading platform showing the Forward market Quotation in the screen. Figure 40.a(bis): Portfolio Forward Markey screen. 27

31 Click on the icon (the order has not been sent to the market yet). An Order Summary screen shall appear as shown in figure 30. Review the order data. Enter the PIN to confirm the order. Click on the icon. You may click on the icon to cancel the order attempt. Figure 30: Order Summary screen. The system will display the status of the order and its corresponding quantity, date and time it was inserted and executed in the market, price, and other details that are available as shown in figure 31. Every non-executed order may be cancelled and modified from the order status screen. 28

32 Figure 31: Order Status screen (middle section) displays the status of the order along with the necessary data. 29

33 The order may have the following status: To be sent to market. This means the order has not been sent to the stock market; hence, not entered in the market order book. Sent to market. This means the order has successfully reached the stock market, yet still not entered in the market order book. Accepted on Market. This means the stock market has accepted the order, and the order has been added to the market order book waiting to be executed. Partially executed. This means the order has been partially executed, where the remaining quantity remains in the market order book waiting to be executed. Totally executed. This means the order has been completely executed. Refused by the market. This means the order has been rejected by the stock market. Accepted on the Market (cancellation requested). This means the order is already in the stock market (in the order book), and an order cancellation has been requested by the customer. The cancellation request is not sent to the market yet. Accepted on the Market (cancellation sent to market). This means the order is already in the stock market (in the order book), and an order cancellation has been sent to the market. The order is still not cancelled, waiting the market s approval. Cancellation Executed (cancellation executed). This means the order is completely cancelled by the stock market. Accepted on the Market (cancellation refused). This means the order is already in the stock market (in the order book), and the cancellation request has been refused by the market. This could be due to many reasons. For example, the order could have been executed already, or the minimum exposure time did not expire yet (5 minutes for the Kuwaiti Stock Exchange Market). The customer will have to request another order cancellation. Accepted on the Market (modification requested). This means the order is already in the stock market (in the order book), and an order modification has been requested by the customer. The modification request is not sent to the market yet. Accepted on the Market (modification sent to market). This means the order is already in the stock market (in the order book), and an order modification has been sent to the market. The order is still not modified, waiting the market s approval. Accepted on Market (modification executed). This means the order is already in the stock market (in the order book), and modified (price and/or quantity). Accepted on the Market (modification refused). This means the order is already in the stock market (in the order book), and the modification request has been refused by the market. This could be due to many reasons. For example, the order could have been executed already, or the minimum exposure time did not expire yet (5 minutes for the Kuwaiti Stock Exchange Market). The customer will have to request another order modification. Parked. (KSE only). This means the order is not in the stock market. Orders with parked status usually refer to orders with time parameter set to Good Till Date where the order price does not correspond to the market price range for the same trading day. Matured [Forward market only]. This means that the contracy is matured. Renewed [Forward Market only]. This means that CutOff price and Initial Payment only of the contract are modified. Terminated [Forward Market only]. This means that Market Price of the contract reaches Contract Cutoff price. 30

34 As shown in the figure below, the customer has placed 3 orders on October 10 th, 2005, where two of the orders are executed and one is cancelled. Figure 32: Order Status screen (refer back to figure 31). Taking a closer look at each order we see the following: Order 1 Order 2 The client placed a sell order. The order was placed at 10:25:13 on October 10 th, The client requested a modification in price or quantity. The modification was approved by the stock market stating (modification executed). The order was executed. The order status states totally executed (modification executed). Meaning the order was completely executed with the modification the client had requested. The client placed a buy order. The order was placed at 11:03:50 on October 10 th, The client requested an order cancellation. Order 3 The cancellation was approved by the stock market stating (cancellation executed). The order status states cancellation executed (cancellation executed). Meaning the order was completely cancelled. Notice that it states YES under the Executed field (as shown in the yellow box). This means that the customer s request has been executed by the market; hence, the order cancellation has been fully executed. The client placed a buy order. The order was placed at 11:10:2350 on October 10 th, The order status states totally executed meaning the order was completely executed in the stock market. Neither modification nor cancellation was requested by the client. 31

35 Note: As shown in figure 33, the GBS-MIC online trading platform displays the customer's selected security and cash accounts. Customers may open more than one security and cash account within their GBS-MIC online trading account. Figure 33: GBS-MIC Online Trading Platform. 32

36 o To Enter Orders from the Security Search Section Click on the Security Search screen. Search for the security you want to trade in. Click on the icon as shown in figure 34. The data will appear in the middle section of the screen, in which the customer shall enter the desired quantity, price, and set both the time and quantity parameters. Figure 34: Security Search screen. o To Enter Orders from the Portfolio Section The portfolio shows all the securities the customer owns within the specified security account as presented in figure 35. To place an order, click on the icon next to the desired security. The data will appear in the middle section of the screen, in which the customer shall enter the desired quantity, price, and set both the time and quantity parameters. Figure 35: Portfolio screen showing all the securities available in the customer's GBS- MIC online trading account. 33

37 VIII. To Cancel Orders Orders are cancelled from the middle section of the GBS-MIC Online Trading platform as shown in figure 36. To cancel orders, click on the icon next to the order to be cancelled (the order is NOT cancelled yet). An Order Cancellation Request screen shall appear where the customer must enter the PIN for cancellation confirmation. Kindly refer to figure 37. The customer may click on the icon to cancel the cancellation request. Click on the icon. The cancellation request is sent to the stock market waiting for approval (the order is NOT cancelled yet). Kindly refer to the order status for update on the order cancellation. The order cancellation has the following status: Accepted on Market (cancellation sent to Market). This means order cancellation has been requested, and is waiting for the stock market's approval. Cancellation executed (cancellation executed). This means the order cancellation has been approved by the stock market and the order has been CANCELLED. Accepted on Market (cancellation refused by market). This means the stock market has refused to cancel the order. Clicking on the Details section provides the reason of the refusal. This could be due to many reasons. For example, the order could have been executed already, or the minimum exposure time did not expire yet (5 minutes for the Kuwaiti Stock Exchange Market). The customer will have to request another order cancellation. Once the order is cancelled, the and icons will disappear as shown in figure 38. Figure 36: GBS-MIC Online Trading Platform. 34

38 Figure 37: Order Cancellation Request screen. Figure 38: GBS-MIC Online Trading platform showing a cancelled order. 35

39 IX. To Modify Orders Orders are modified from the middle section of the GBS-MIC Online Trading platform as shown in figure 36. To modify orders, click on the icon (the order is NOT modified yet). A Modify Order Request screen shall appear as shown in figure 39 where the customer may modify the quantity and/or price. To modify the quantity and/or price, click on the radio button next to the data to be modified and then type in the new value. Enter The customer must enter the PIN for modification confirmation. The customer may click on the icon to cancel the modification request. Click on the icon. The modification request is sent to the stock market waiting for approval (the order is NOT modified yet). Kindly refer to the order status for update on the order modification. The order modification has the following status: Accepted by Market (modification sent to market). This means order modification has been requested, and is waiting for the stock market approval. Modification executed (modification executed). This means the order modification has been approved by the stock market and the order has been MODIFIED. Accepted by Market (modification refused by market). This means the stock market has refused to modify the order. Clicking on the Details section provides the reason of the refusal. This could be due to many reasons. For example, the order could have been executed already, or the minimum exposure time did not expire yet (5 minutes for the Kuwaiti Stock Exchange Market). The customer will have to request another order modification. Figure 39: Modify Order screen. 36

40 X. Customer Portfolio All the securities owned by the customer are placed in ONE portfolio regardless of the market they are purchased from. The customer may open more than one security account within his GBS-MIC Online Trading account. Having a multi-security account organizes the portfolio and makes it easier to manage. The securities are located in the Portfolio section (third section of the GBS-MIC platform) as shown in figure 40. The Portfolio section (third section of the GBS-MIC platform) shows the market that the security is purchased from, the currency, total quantity owned, and average buy price. It also compares the average buy price of the security with the market price, and states the variance % and absolute variance (in KWD). Meaning that it alerts the customer of the profit/loss (in red and green) that could be gained if the security is to be sold at the market price. Clicking on the icon displays a printable Portfolio Detail report. Kindly refer to figure 41. The contracts related to Forward Market are located in the Portfolio Forward Market section (fourth section of the GBS-MIC platform) as shown in figure 40.a Note that Portfolio Forward Market tab appears only if Forward Market is enabled in customer s Operational Profile. Clicking on the accounts. combo box displays all the customer security Figure 40: GBS-MIC Online Trading platform displaying all securities owned by the customer. Figure 40.a: Portfolio Forward Market screen. 37

41 Figure 41: Portfolio Detail report. The Portfolio Detail report is divided into three main sections: 1. Security Section The Security Section displays all the securities purchased by the client along with their purchase details. o Stock Code: Code of the purchased stock. o Description: Name of the purchased security. o Quantity: purchased quantity. o Currency: Stock Trading Currency o Unit Cost: Cost per share. o Cost: Cost of Buy transaction (without fees). Quantity * Unit Cost = Cost o Market Price: Price per share at current market price. o Market Value: Value if the customer was to sell all the available quantity at market price. Market Price * Quantity = Market Value. o UPL: Unrealized Profit and Loss. Cost Market Value = UPL. o UPL%: Unrealized Profit and Loss displayed in %. o UPL in P.C.: Unrealized Profit and Loss in Preferred Currency. o Pct Weight.: Percentage weight of security in the entire Portfolio value. 2. Cash Section o Gross Cash Availability: amount the customer can trade with. KCC Virtual Balance + Net Availability = Gross Cash Availability. o KCC Virtual Balance: amount in KCC account. Customer may trade with this cash, yet cannot withdraw it until it is transferred into his Net Availability account (every Sunday for Kuwaiti Stock Exchange Market). o Net Availability in Preferred Currency (KWD): The customer may trade with this cash amount. This cash is also available for withdrawal. o The Cash Section is available on the panel 2 as well, clicking icon as in Figure: 38

42 Figure 41.a: Cash Available Details icon Figure 41.b: Portfolio Cash Available Details 3. Portfolio Indicators o Total Investment at Cost Price: Total cost of Buy transactions (without fees). o Total Portfolio at Market Value: Total cost if the customer was to sell all the available quantity in the portfolio at market price. o Net Worth: Total net worth of the customer [Total Portfolio at Market Value + Net Availability in Preferred Currency (KWD)] o RPL YearToDate: profit and loss realized from account opening till today. o Appreciation in Current Year: The appreciated value of the portfolio. o Percentage of Cash: The percentage of cash in the portfolio in comparison to the percentage of securities. o Percentage of Securities: The percentage of securities in the portfolio in comparison to the percentage of cash. Note: Kindly be aware that the Portfolio Detail report is printable. Clicking on the icon will print the full report. 39

43 XI. Historical Reports There are three different historical reports provided by the GBS-MIC Order List, Security Transaction List, and Cash Transaction List reports. application: Note: Kindly be aware that the icon is available in each report. Clicking on this icon displays a printable report within the specified period. o Order List Report GBS-MIC provides the customer with a historical report of all the orders, both cancelled and executed, placed in the customer's online trading account. To search the Order List report, kindly follow these steps: 1. Click on Order List. 2. Choose the security account to be searched in (customers usually have one security account). 3. Enter the dates. 4. Click on the icon. Note: Kindly be aware of the sign at the bottom of each section of the online trading screen, which indicates more pages to be viewed. o Security Transaction List Report GBS-MIC provides the customer with a historical report of all the executed trades placed in the customer's online trading account. To search the Security Transaction List report, kindly follow these steps: 1. Click on Security Transaction List. 2. Choose the security account to be searched in (customers usually have one security account). 3. Enter the dates. 4. Click on the icon. Figure 42: Security Transaction List screen. 5. Clicking on the R icon displays Realized Profit And Loss report. 40

44 Figure 42.a: Realized Profit And Loss report Realized Profit and Loss report: o Stock Description: Description of the purchased stock. o Sell Date: Stock Sell Date. o Quantity: Quantity of Stock sold. o Average Cost: Average Cost for the Buy transactions o Sell Price: Sell price of the Stock sold. o Absolute RPL: (Net Amount of Sell Total Cost). [((Sell Price-Average Cost)*Quantity)-active commission] o Percent. RPL: (100 * Absolute RPL)/Total Cost. o User Pref.Curr.(UPC): preferred Currency o Absolute RPL in UPC: (Net Amount of Sell Total Cost) in preferred currency. o Cash Transaction List Report GBS-MIC provides the customer with a historical report of all the cash transactions placed in the customer's online trading account. To search the Cash Transaction List report, kindly follow these steps: 1. Click on Cash Transaction List. 2. Choose the cash account to be searched in (customers usually have one cash account). 3. Enter the dates. 4. Click on the icon. Figure 43: Cash Transaction List screen. 41

45 XII. Cash Transfer In/Out Notification Note: After depositing cash in the MIC Company account, the customer MUST send a cash transfer-in notification informing the MIC Department of the amount being transferred. If no notification is received, the cash will not be deposited in the customer s account, leaving it pending. The customer must send a notification from the GBS-MIC Online Trading platform informing the Customer Relations Staff of any cash transactions (deposit and withdrawal into/from the online trading account). To set a notification, kindly follow these steps: 1. Click on Cash Transaction List. Kindly refer to figure Click on the or icon. 3. A popup window will appear as shown in figure Select the cash account you are depositing/withdrawing from (customers have one cash account, unless specified otherwise). 5. Enter the cash amount deposited/withdrawn (no commas; for example 10000, 750, 1500). 6. Enter a note stating the transfer type (example: cash, KFH online transfer, check, etc). It does not have to be a complete sentence. (optional) 7. Click on the icon. 8. A pop-up screen shall appear. Enter the PIN, and then click on the icon. Figure 44: Cash Transfer Out screen. Note: Cash transfers out are only transferred to the customer's Company account specified by the customer in the GBS-MIC Online Trading Application. Customers may change their Company account data by filling a Personal Information Change Request Form. 42

46 XIII. Logging Out of the GBS-MIC Account Click on the icon as shown in figure 45. Figure 45: GBS-MIC online Trading Platform. Click on the logout sign as shown in figure

47 Figure 46: Login Customer screen. 44

48 XIV. Market News, Financial Analysis, and Charts [proposal] Financial news, analysis, and charts may be accessed from two different screens: 1. Login Customer Screen. Click on one of the following fields for market news: Kuwait news This field provides financial news regarding the Kuwaiti stock market provided by Reuters. Reuters PowerSearch Reuters provides the latest market research, price updates, charts, realtime quotes, and company information. Figure 47: Login Customer screen. 2. Personal Selection screen via the online trading platform. Click on the name of the company in from the watch list screen. A pop-up screen shall appear as in figure 50 provided by Reuters. The screen displays real-time quotes, company's background, news, and chart. 45

49 Figure 49: GBS-MIC online trading platform. Figure 50: Reuter's page displaying real-time quotes and company's news. 46

50 XV. Frequently Asked Questions * Question 1 Why does the message session expired appear on the customer's GBS-MIC Online Trading platform? Answer The GBS-MIC is a very secured system, where it expires the trading session when the platform has been idle for a period of 20 minutes. * Question 2 How can the customer place orders after the GBS-MIC Online Trading session has been expired? Answer The customer must log out of the GBS-MIC Online Trading platform (both from the main trading screen and the login customer menu screen), and then re-login into the GBS-MIC account. * Question 3 What happens in the case a customer has 10,000 KWD cash in the GBS-MIC Online Trading account and no securities, then places an order worth of 10,000 KWD? Answer The GBS-MIC system will refuse to send the order to the stock market, because the order is worth more than10,000 KWD with the market fees. The cash amount in the customer's GBS-MIC Online Trading account must cover the TOTAL cash amount of the order. If it is short of 1 Fils, the order will not be sent to the stock market. 47

51 * Question 4 A customer has 10,000 KWD cash in the GBS-MIC Online Trading account and no securities. The customer has a separate trading account with the stock market, where it holds X shares of Sultan. What happens if the customer places a sell order (via the GBS-MIC application) of the Sultan shares? Answer The GBS-MIC system will refuse to send the order to the stock market, because there are no Sultan shares found in the customer's GBS-MIC account; the customer cannot sell shares that are not currently available in the customer's GBS-MIC account. * Question 5 A customer has 10,000 KWD cash in the GBS-MIC Online Trading account and no securities. The customer has another trading account with the stock market, where it holds X shares of Sultan. The customer requests a transfer of the shares from the stock market into the GBS-MIC account. What happens if the customer then places a sell order (via the GBS-MIC application) of the Sultan shares? Keep in mind the shares are not transferred yet into the customer's GBS-MIC account; they are in the process of being transferred. Answer The GBS-MIC system will refuse to send the order to the stock market, because no Sultan shares are found in the customer's GBS-MIC account; the customer cannot sell shares that are not currently available in the GBS-MIC account. * Question 6 A customer has 10,000 KWD cash in the GBS-MIC Online Trading account and X shares of MIC. What happens after the customer places a buy order worth of 3,000 KWD and the order's status is to be sent, sent to market, or accepted by the market? Answer The total cash amount of the order will be immediately blocked from the customer's Available Cash, leaving ~ 7,000 KWD in the Available Cash. Keep in mind that the order is not yet executed. * Question 7 A customer has 10,000 KWD cash in the GBS-MIC Online Trading account and X shares of MIC The customer places a sell order worth of 5,000 KWD. The order is executed by the stock market. The available cash is immediately increased to 15,000 KWD. What happens when the customer requests to withdraw 12,000 KWD from the GBS-MIC account? Answer The GBS-MIC system will refuse the cash transfer, because the available cash for withdrawal is 10,000 KWD only, where the other 5,000 KWD is still pending in the Kuwait Clearing Company account. For every sell order, the incoming cash shall only be used for trading (could be thought of as virtual cash) and not withdrawal till every Saturday of the week. 48

52 * Question 8 A customer places an order for the Kuwaiti Stock Exchange market at 10:00 a.m. (Kuwait time). The order is not executed. What happens when the customer attempts to modify the order at 10:03 a.m.? Answer The GBS-MIC system will send the modification request to the stock market, waiting for the market's approval. The market will refuse the order modification. This is due to the KSE rule that states five minutes have to pass from the time the order is accepted by the market for the order to be modified. * Question 9 A customer places an order with the Kuwaiti Stock Exchange market at 10:00 a.m. (Kuwait time). The order is not executed. What happens when the customer attempts to cancel the order at 10:04 a.m.? Answer The GBS-MIC system will send the cancellation request to the stock market, waiting for the market's approval. The market will refuse the order cancellation. This is due to the KSE rule that states five minutes have to pass from the time the order is accepted by the market for the order to be cancelled. * Question 10 A customer places an order for the Kuwaiti Stock Exchange market at 10:00 a.m. (Kuwait time). The order is not executed. What is happens when the customer attempts to modify the order at 10:30 a.m.? Answer The order is not modified yet. The GBS-MIC system will send the modification request to the stock market, waiting for the market's approval. The order is not executed unless it states in the Order Status screen modification executed. * Question 11 A customer places an order for the Kuwaiti Stock Exchange market at 11:20 a.m. (Kuwait time). The order is not executed. What happens when the customer attempts to cancel the order at 11:45 a.m.? Answer The order is not cancelled yet. The GBS-MIC system will send the cancellation request to the stock market, waiting for the market's approval. The order is not executed unless it states in the Order Status screen cancellation executed. * Question 12 What happens after a customer places an order and the order is sent to the market having the status accepted by market? Answer The order is inserted in the order book waiting to be executed. Keep in mind the order is not executed yet until it states in the Order Status screen that the order is either totally executed or partially executed. 49

53 * Question 13 What happens when a customer places an order off market hours (example at 6:00 p.m. or 2:00 a.m. Kuwait time for Kuwaiti stock market)? Answer The order will have the status of to be sent to market. The order will be sent to the stock market at 9:00 a.m. The status of the order will be changed to sent to market followed by accepted by market, then hopefully totally executed. * Question 14 What happens when the stock market closes leaving not executed orders with the status of to be sent to market, sent to market, accepted by market, or partially executed? Answer There is no need for the customer to cancel the order; the not executed quantity will be cancelled by the GBS-MIC system. * Question 15 A customer has 800 KWD in the GBS-MIC Online Trading account and no securities. What happens if the customer requests a withdrawal of 400 KWD (via the GBS-MIC application)? Answer The customer shall be receiving a reminder call from a Customer Relations Staff regarding the 500 KWD minimum that must be maintained in the customer's GBS-MIC portfolio. The withdrawal will not be executed unless the customer decreases the amount, where the GBS-MIC account will hold a minimum of 500 KWD. * Question 16 A customer has 800 KWD in the GBS-MIC Online Trading account and securities worth of 2,000 KWD. What happens if the customer requests a withdrawal of 500 KWD (via the GBS-MIC application)? Answer The 500 KWD will be transferred into the customer's Company account as specified by the customer in the GBS-MIC Online Trading Application. * Question 17 A customer has some shares in the Kuwaiti Stock Market. Can he transfer these shares to his GBS-MIC Online Trading account? Answer Yes. He needs to request (from the broker at the stock market) a share certificate for the shares that needs to be transferred. These certificates should then be sent to the GBS-MIC department accompanied by a Security Transfer Request Form signed by the customer. The share transfer is processed within a maximum of three weeks. Meanwhile, the customer may not trade within these stocks. 50