1st purchase of SGS T-bill

Today I bought my first SGS T-bill at an UOB Bank branch office. It took about an hour to settle everything as I had to open a new trading account for the transaction.

The bid done for today is for the auction next week :
Issue Code - BQ07146E
Issue Date - 22 Nov 2007
Tenor - 91 days
Maturity Date - 21 February 2008
a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00
Have to check next week for the yield.

yield = 2.34%
total paid = $994.17
gain = $5.83

If one is buying T-bills in the auction, the purchase is always one week earlier. So today's purchase is for next week's auction. Since it is one week earlier, one can actually register the bid anytime before Friday. But as the bank only knows the issue code on Friday, it is best to register the bid on Friday itself, during office hours ( 0930 - 1600 hrs ).