(a) Auto-Sweep’s Available Balance
The Available Balance is the amount ready to be used as a payment method for supported products offered on FSMOne. If not used for payments, it continues to earn Auto-Sweep yield.
Formula for Auto-Sweep’s Available Balance:
Available Balance = Existing Balance + Incoming Deposits – Withdrawals – Monies earmarked for product investments
*You can only use up to 99% of the Total Available Balance to purchase for Funds, Stocks/ETFs, Bond Express, OTC Bonds, and Managed Portfolios.
(b) Auto-Sweep’s Purchasing Power
Auto-Sweep’s Purchasing Power
Your Purchasing Power consists of two components:
- Available Balance (AB): This can be used to purchase on all supported stock exchanges, except for China A-shares.
- Unsettled Trades: Unsettled proceeds from selling Stocks/ETFs are limited to purchasing Stocks/ETFs in the same currency (USD/SGD) as your Auto-Sweep. These proceeds can only be used for other investments once the order settlement is complete.
Formula for Auto-Sweep’s Purchasing Power:
Purchasing Power = (99% x Available Balance) + Unsettled Trades from Auto-Sweep-denominated Stock/ETF Sales
Important Notes:
- Purchasing Power is only applicable for trading stocks and ETFs.
- The Unsettled Trades portion of Purchasing Power is restricted to trades in the corresponding Auto-Sweep currency.
- For example, proceeds from selling USD-denominated stocks/ETFs can only be used to trade other USD-denominated stocks/ETFs. The same applies to SGD currency.