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Frequently Asked Questions

  1. HOW DO I SELL SHARES?
  2. HOW DO I PURCHASE SHARES?
  3. HOW DO I PAY FOR PURCHASING SHARES?
  4. HOW DO I FIND OUT THE PRICE OF SHARES?
  5. HOW DO I ISSUE A SECURITIES PURCHASE OR SHARE ORDER?
  6. WHAT IS INTERNET TRADING AND HOW DO I REGISTER?
  7. HOW DO I CONCLUDE A CONTRACT ON PORTFOLIO MANAGEMENT WITH FIMA SECURITIES?
  8. THE STOCK EXCHANGE, SDA (CDA), HANFA (CFSSA)
  9. BROKER AND INVESTMENT CONSULTANT
  10. HOW DO I FIND OUT MY PIN CODE (IN CASE I LOST IT)?
  11. CAN SHARES BE TRANSFERRED TO ANOTHER PERSON, HOW TO SELL SHARES OUTSIDE THE STOCK EXCHANGE MARKET?
  12. WHAT IS A MARGIN CREDIT?
  13. KHOW CAN I SEE THE SHARES I OWN IN MY PORTFOLIO?
  14. HOW CAN I GET AN APPLICATION (NUMBER) FOR REGISTRATION OF SHARES?
  15. HOW DO I REACH MY CONTACT PERSON(S)?
  16. HOW DO I REGISTER SHARES?
  17. WHAT IS A REGISTRATION OF OWNERSHIP POSITION?



1. HOW DO I SELL SHARES?

Conditions: You have becamed our client and registered your shares

  • Contact your broker, who will process your sale order on the stock exchange. The order may be issued through by telephone, in person, or through the eTrade system.   top of the page >


2. HOW DO I PURCHASE SHARES?

Conditions: You have becamed our client and transfered funds for purchase of shares

  • You agreed on the main elements of the purchase order with your broker: Price and quantity
  • After the elements of the purchase order are agreed on, the authorised broker forwards this order to the stock exchange, where it stays until realization or your recall

The actual transfer of shares is performed at T+2, i.e. the second workday from the day of realization (Saturday and Sunday are not counted as workdays), when the shares will be visible on your investor account at the CDCC.   top of the page >


3. HOW DO I TRANSFER FUNDS FOR PURCHASING SHARES?

Accounts through which you can transfer funds for your share purchases are:

Splitska banka, IBAN: HR6523300031300200210
Zagrebačka banka, IBAN: HR9423600001300053109
Podravska banka, IBAN: HR7523860021333001632
Hrvatska poštanska banka, IBAN HR9123900011300052761

For an example of a correctly filled-in deposit slip, click here    top of the page >


4. HOW DO I FIND OUT THE CURRENT PRICE OF SHARES?

The current price of shares can be found out in several ways. Here are the most frequent:

  1. Contacting the brokerage firm
  2. On the web page www.fima-securities.com, in the menu "Trading monitor", with a 15-minute delay
  3. Using the eTrade system, in real-time
  4. By subscribing to the ZSE Trading Monitor (software allowing you to monitor the prices of shares in real-time) – contact our branch office in Rijeka for details.

We recognize the purchase price and the sale price of shares. The purchase price is the most favourable price at which the buyer, at any given moment, wishes to purchase a certain share. The sale price is the most favourable price at which the seller, at any given moment, offers to sell certain shares.   top of the page >


5. HOW DO I ISSUE A SECURITIES PURCHASE OR SHARE ORDER?

Orders are issued through an authorised brokerage firm, via telephone, in person or electronically - using the online trading system eTrade.
After receiving the order, the authorised broker places the order on the stock exchange. All order elements may be amended up to the moment of realisation.   top of the page >


6. WHAT IS INTERNET TRADING AND HOW DO I REGISTER?

Internet trading is the eTrade application, using which one can issue purchase/sale orders from any location/device with Internet access, as long as one uses their unique user number (JKB) as an identifier, and their password for on-line trading. Registration can be performed here.

After entering your private data in the online form and choosing your contact person, print out the brokerage contract. Sign the contract, fill in the appropriate personal data form, and send these documents, along with copies of your personal ID card and bank card of your current account to our address: FIMA Securities, Vrazova 25, 42000 Varaždin.

After receiving complete documentation, Fima Securities will send you your user name (JKB) and your password to your home address.
If the client wishes to transfer his existing shares to his on-line portfolio, he only needs to contact his contact person chosen during registration.   top of the page >


7. HOW DO I CONCLUDE A CONTRACT ON PORTFOLIO MANAGEMENT WITH FIMA SECURITIES?

The portfolio management service is meant for clients who wish to invest on domestic and regional markets, but lack the time or the know-how to handle it themselves. The investment horizon is a minimum of one year, but our recommendation is - the longer, the better.

At this point, we can only make contracts for the Croatian market or the Serbian marker, or a combination of the two.
The minimal portfolio amount is HRK 100,000 for one market or HRK 200,000 if one chooses a mixed portfolio.
 Portfolio calculation, i.e. balance, is performed every six months, after which possible realised profit is divided in an 80:20 ratio (client vs. broker). In addition to signing the portfolio agreement (authorised by the notary public), you must sign and notarize a statement on opening a portfolio account with the CDA. In case there is no profit in a certain period, no calculation shall be made; the risk lies exclusively with the client and the brokerage firm collects its percentage when the value of the portfolio rises above the value of initial investment. .

In addition to portfolio investing brokerage fees, there are also exit fees in case of premature portfolio calculation (see the pricelist).   top of the page >


8. THE STOCK EXCHANGE, SDA (CDA), HANFA (CFSSA)

The stock exchange is a place where offer and demand for securities meet. Members of any stock exchange are brokerage firms, who have sole direct access to the stock exchange and whose brokers electronically enter payment and sale orders into the stock exchange system. In Croatia, there is only one stock exchange - the Zagreb Stock Exchange (ZSE). All those interested in trading on the stock exchange may issue an order for purchase or sale of securities, solely through one of the registered brokerage firms.

The Central Depository & Clearing Company - CDCC (Croatian: SKDD) is the clearing firm performing clearing and coverage services for all transactions performed on the stock exchange and outside the stock exchange in Croatia.

The Croatian Financial Services Supervisory Agency - CFSSA (Croatian: HANFA) is the institution monitoring and regulating the Croatian capital market. It monitors the issuing and trading of securities on Zagreb Stock Exchange (Zagrebačka burza), and handles the entire organisation and development of the Croatian capital market.   top of the page >
    

9. BROKER AND INVESTMENT CONSULTANT

A broker is a person authorised by HANFA for trading securities. A broker purchases and sells securities according to purchase/sale orders made by clients.

An investment consultant is a person authorised by HANFA to offer services of investment consulting.   top of the page >


10. HOW DO I FIND OUT MY PIN CODE (IN CASE I LOST IT)
       
The Pin is issued by the CDCC, and this is the only institution authorised to give out information on your Pin. The automatic switchboard number of the CDA is 01/4607-300 or 01/4607-444. For the operator, press 0.   top of the page >


11. CAN SHARES BE TRANSFERRED TO ANOTHER PERSON, HOW TO SELL SHARES OUTSIDE THE STOCK EXCHANGE MARKET?

There are two options available for natural entities (individuals): they can notarise a deed of gift or a purchase/sales contract and submit the same to the CDCC. After concluding this contract, one needs to contact the CDCC, which will take over the processing of the transaction.   top of the page >


12. WHAT IS A MARGIN CREDIT?

A margin credit is a short-term credit in kuna meant for investors who wish to increase their exposure on the capital market. This credit can be used only for purchase of securities traded on the Zagreb Stock Exchange. It is most often approved based on a pledge of shares in a 1:1 ratio, but a different ratio may be agreed. A margin credit opens up a new financial instrument which can mean a significant increase in your yield if the prices of your shares keep on a favourable course than you could have had without the margin credit; on the other hand, in case the prices of your shares drop, your losses may also increase proportionally. If you are interested in a margin credit, please contact us at trading@fima.com.

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13. HOW CAN I SEE THE SHARES I OWN IN MY PORTFOLIO?

The assumption in this case is that you wish to use our eTrade application and that we received all your necessary documentation. The shares are listed at under the menu "Portfolio" in "Croatian" category. If you have just become a client of Fima Securities and you wish to see the shares you owned from before, please send us the information on the type and the quantity of those shares to your contact person by sending them a message using means listed in the "Contact“ menu. Your contact person will send you an application number for registration of shares.   top of the page >


14. HOW CAN I GET AN APPLICATION (NUMBER) FOR REGISTRATION OF SHARES?

The application for registration of shares (i.e. the application for registration of ownership), which is also a precondition for selling securities through the brokerage firm, may be acquired from your contact person in the brokerage firm.    top of the page >


15. HOW DO I COMMUNICATE WITH THE CONTACT PERSON?

Internet clients may correspond with their contact persons using the chat option found in the "Contacts“ menu within the Internet trading system. Other possible means of communication are through e-mail or telephone.   top of the page >


16. HOW DO I REGISTER SHARES?

You can register your shares, i.e. register your ownership (position) through the Central Depository Agency automatic switchboard at 01/4607 300 or 01/4607-444. Please follow automatic teller instructions. The automatic teller will ask you for your investor code (account number) and your PIN in order to confirm your identity, as well as the application number you acquired from your contact person.    top of the page >


17. WHAT IS A REGISTRATION OF OWNERSHIP POSITION?

Ownership position may be registered through a member-issuer of securities or a member-participant (broker, trustee, etc.) Initially (during the transfer from the registry of issuers), the ownership (position) is registered with the member-issuer of securities. This is also called a free position.
Registration of the ownership position with the brokerage firm, which is the precondition for opening a sale order, assumes that the client is giving to the brokerage firm the permission for allocation of shares during their sale, all as a result of realisation of the previous order made by the client.
Registration of ownership with the brokerage firm is necessary in order to ensure the preconditions for opening a sale order and actual sale of securities on an organized market (stock exchange).   top of the page >