Trading non-approved margin loan securities

If you have a Leveraged Equities account and you want to buy non-approved securities in it (ie. stocks that LE will not lend over), you are able to do this with a zero-LVR. In other words the holding needs to be fully funded, and once purchased will not contribute to your leverage into other positions.

This can be useful if you want to margin your positions, but you don't want to split non-approved securities (eg. warrants) into another non-LE account.

Currently, Minc's systems will reject orders for non-approved securities, we're working on this to enable all securities (at zero LVR) - give us a week or so to sort this out. In the mean time, feel free to contact us to get a security manually added if you want to put a trade on in this circumstance. Call or email us at enquiries@thinkminc.com.au

Cost base on CHESS transfers

Just a reminder that clients can request original cost base applied to their inbound CHESS transfers. This is useful if you've transferred stock in from another broker, and you want the original purchase price reflected in your profit/loss figures.

To do this, simply send us an email to enquiries@thinkminc.com.au with the account number & name, plus a list of the securities and the cost base (either cents per share or total dollar cost).

Preferably send this through before you start trading, but if you've missed that opportunity then send through the current total cost base (including trades done at Minc).

Keep in mind that IRESS/IOS uses average cost method when calculating ongoing cost base. That is, sales are applied against the average cost of purchase. If you want to do something more sophisticated in terms of optimising the realised/unrealised component (LIFO, FIFO, manual..) then stay tuned for some new tools in this area..