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1. |
What methods can I use to place my
order? |
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You can place your order through the following channels:
- HK Shares Trading Platform
Click on "Quick Link" - "HK Shares Trading" to open the Trading Platform.
- IVRS at (852) 2822-5001
You can place your order by dialing (852) 2822 5001 from any touch-tone telephone and access our automated response system. Simply key in your trading account number and IVRS password to confirm your identity, and follow the voice instructions to place your order. You can also use the IVRS system to obtain real-time stock quotes and retrieve your account portfolio information.
- Dealing Hotline at (852) 2822-5002.
If you prefer to talk to our dedicated dealing staff directly, you can also call our dealing hotline at (852) 2822 5002. Our professional and experienced dealing staff will handle your call and place your order directly to the HK Exchange.
Note: Phone orders through Dealing Hotline are subject to Telephone Charge Provision.
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2. |
How soon can I start trading? |
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You can start trading once you have received your Account
Number plus Trading and IVRS passwords, and deposited
the necessary funds into your account. |
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3. |
What is T+2 Settlement Policy? |
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To enhance your trading flexibility, we have launched
a new T+2 settlement policy1 that enables cash
account traders to invest in the stock market with extra
convenience.
To invest in High Grade stocks, you need to pay only 30%
cash upfront and 50% for Medium Grade stocks, and then
settle the balance on T+2. Please note that Low Grade
stocks are excluded. To check stocks grading, please click
here.
In addition, you can use your stock portfolio value as
"Purchasing Power": trade up to 70% of the value
of your High Grade stocks and up to 50% of your Medium
Grade stocks.
1Selling short is not allowed. |
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4. |
How to calculate my "Purchasing
Power" and utilize it to purchase stock? |
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Your Purchasing Power is based on 70% or 50% (depends
on the stocks grading) of your stock portfolio's market
value, your trust account balance at Standard Chartered
Bank and the pending settlement value.
Please refer to the examples below:
| Example
1: |
Your account does not have any stocks or money
and you want to buy HSBC at a value of $100,000. |
| Example
2: |
Your account has HSBC at a value of $100,000.
You want to buy Great Eagle at a value of $160,000. |
| Example
3: |
Your account has HSBC and Great Eagle at a value
of $100,000 and $80,000 accordingly; your trust
account has $50,000 cash and you want to buy Cheung
Kong at a value of $200,000. |
| Example
4: |
You bought certain amount of HSBC at a value of
$100,000 on T and the pending settlement value is
-$20,000. One the same day you want to buy Cheung
Kong at a value of $200,000. |
Note: The purchasing power of medium and low grade stocks
will exclude the cheque pending to be cleared. |
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5. |
If I have overdue balance on T+2,
can I still trade? |
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You can sell but not buy! You should settle the overdue
balance on T+2 (1.5 hours before you trade) or else you
will lose all of your Purchasing Power in addition to
a P+3% per annum interest charge and a 1% penalty fee
on the debit amount until the overdue balance is settled.
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6. |
How much funds are required before
Margin Account holders can start trading? |
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For Margin clients (under All-Stock Margin Scheme),
all Hong Kong stocks (exclude rights and warrants) will
be accepted for margin financing and the margin ratio
is in line with our existing credit policy (see Margin
Policy section). |
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7. |
How much is the OD rate for margin
accounts? |
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It will be Prime Rate + 3% per annum. |
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8. |
What types of orders can be submitted
to the Stock Exchange for order matching? |
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There are currently four types of orders: Limit Order,
Enhanced Limit Order, Special Limit Order & At-auction
Limit Order. |
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9. |
What is a Limit Order? |
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A limit order is an order submitted at a given price
(limit price) that can only be matched with queued opposite
orders exactly at the limit price. If there is a remaining
portion in the order that is unmatched, that portion will
remain a valid order until day end.
Please refer to HKEx website about the latest definition of order input types. |
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10. |
What is an Enhanced Limit Order (ELO)? |
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An enhanced limit order is an order submitted at a
given price (limit price) that can be matched with queued
opposite orders at the limit price and/or 5 spreads better
than the limit price. If there is a remaining portion
in the order that is unmatched, that portion will be converted
to a limit order at the input limit price and remain a
valid order until day end.
Please refer to HKEx website about the latest definition of order input types.
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11. |
What is a Special Limit Order (SLO)? |
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A special limit order is effectively a market order
submitted at a given price (limit price) that can be matched
with queued opposite orders at up to 5 best prices that
are not worse than the input limit price. If there is
a remaining portion in the order that is unmatched, that
portion will be cancelled from the order queue.
Please refer to HKEx website about the latest definition of order input types.
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12. |
What is an At-auction Limit Order
(ALO)? |
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An at-auction limit order is an order with a specified
price and is entered into the trading system during the
Pre-opening Session. An at-auction limit order with a
specified price at or more competitive than the final
Indicative Equilibrium Price (IEP) may be matched at the
final Indicative Equilibrium Price (IEP).
Unmatched at-auction limit orders will be converted into
limit orders and carried forward to the Morning Trading
Session provided that the specified price of that at-auction
limit order does not deviate 9 times or more from the
nominal price.
Please refer to HKEx website about the latest definition of order input types.
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13. |
What is the maximum order size? |
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The maximum order size is 3,000 board lots per order. |
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14. |
What is the treatment of odd-lot
size orders? |
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When we receive an order with odd-lot size, we will
submit the order to the Hong Kong Stock Exchange's AMS/3
system (AMS/3) for you. As AMS/3 treats odd-lot size
orders separate from the board-lot size orders by placing
them into the odd-lot market, the time taken for your
order to match/complete may be longer than the normal
board-lot size transactions.
To speed up the transaction time, you are advised to
check the price from the odd-lot market with our dealer
and place your order directly. Our dealing hotline is
(852) 2822 5002.
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HK
Shares
