| Trading Hours |
Hong Kong Time Monday to Friday: 9:30 a.m. - 12:30 p.m / 9:30 a.m. - 12:30 p.m & 2:30 p.m. - 4:00 p.m (Normal Trading Day). |
| Making New Order Instructions |
Clients can contact your account executive for order instructions during trading hours by specifying a new order; or make order instructions via any of our online channels. |
| Modification or Cancellation of Order Instructions |
Clients should notify account executives on modifications or cancellations before giving any new instructions to avoid duplications. |
| Good-for Day Orders |
All orders received or submitted via account executives or online channels are good-for-day and will not be carried forward to the next trading day. |
| Limit Orders (LO) |
Clients should give order instructions in form of Limit Orders:
Buy Limit Orders: The order price should fall at or 8 spreads lower than the prevailing market price.
Sell Limit Orders: The order price should fall at or 8 spreads higher than the prevailing market price. |
| Enhanced Limit Orders (ELO) |
Enhanced limit order allows matching of up to five price queues at a time. Enhanced Limit Order is applicable in continuous trading session only (from 10:00 am to 4.00 pm). ELO placed after 9:45 am will be in "Received" status and triggered to market for queuing after 10:00 am. Unmatched ELO in continuous trading session will be automatically canceled upon day close. Amendment to Enhanced Limit Buy / Sell Order can be made only at a price not higher than the best five ask prices / a price not lower than the best five bid prices or else the amendment will be rejected by the system. Any unfilled Enhanced Limit Order will be put in queue as Limit Order at the same price. |
| At-auction Limit Orders (ALO) |
Auction Limit Order has a specified price for single price auction. It is available in the Pre-Opening Period until 9:45 am. New Auction Limit Order cannot be placed and working Auction Limit Order cannot be amended or deleted from 9:45 am. Orders will be matched in accordance with the Indicative Equilibrium Price (IEP). Unmatched At-auction Limit Orders will be converted into Limit Orders and carried forward to the Continuous Trading Session provided that the specified price of that order does not deviate 9 times or more from the nominal price. IEP is the price with maximum number of orders matched in the Order Matching Period. Indicative Equilibrium Volume (IEV) is the transaction volume done in IEP. Those figures can be referred in the RTQ Applet. |
| At-auction Orders (AO) |
Auction order is the market order without indicating any specific price. AO order is only available in Pre-Opening period. The order will be matched according to Indicative Equilibrium Price (IEP) after inputting it in AMS/3 System. Auction order enjoys the priority that the orders can be matched before auction limit order and those orders will be matched according to IEP and the time of inputting order. All the incomplete orders placed during the pre-opening session will be cancelled automatically before the continuous trading session. |
| Special Limit Order (SLO) |
Special limit order allows matching of up to five price queues at a time. Any unfilled quantity after matching will be cancelled. SLO is only available in the Continuous Trading Session (from 10:00 a.m. to 4:00 p.m.). SLO type does not support AON. Special Limit Order can only be executed by "Power Securities" and "Online Securities Trading". As regards mobile trading, Mango Combo, 3G mobile and IVRS, they temporarily cannot display parts of information (e.g. types of trade, AON, etc.). |
| Condition Order (CO) |
Conditional Order is applicable to Enhanced Limit Order (ELO) and Auction Limit Order (ALO). When Taifook's clients input ELO or ALO, the triggering condition can be set by themselves through selecting Conditional Order. When the Nominal Price reaches the Trigger Price, the order will be sent to the market at the order price.
Points to note:
1. When setting Trigger Price equal to Nominal price, the system will immediately send the order to the market.
2. When setting Trigger Price not equal to Order price, the system will send the order to the market only if the Nominal Price move upward/downward to reach the Trigger Price.
3. The pre-specified value of buy/sell price must be set at the Trigger Price with 15/2 spreads |
| All-or-Nothing Order (AON) |
All-or-Nothing is applicable to Enhanced Limit Order (ELO), Auction Limit Order (ALO), and Conditional Order (CO). If Taifook’s clients has selected AON, the order will be executed only if the market has the order with the same price and quantity as the client's order. Or else, the order will be cancelled. AON order type is only applicable to the Continuous Trading Period. And this order type is only be available in "PowerSecurities", "Online Securities Trading" and "Mobile Trading". As regards 3G Mobile Trading and IVRS, they temporarily cannot display parts of information. (e.g. "Order Type", "AON", etc.) . |
| Sell Instructions |
Clients shall make sure the quantity of shares on hand before making any sell instructions. Clients who commit in short-selling will bear legal responsibilities. |
| Order Confirmation |
Taifook Securities Company Limited strives to deliver order confirmations on all executed orders. These transactions will be recorded in consolidated statements as well. |
All order instructions received from clients will be processed with the Enhanced Limit Order function given by automatic order system (AMS/3) of HKEX. Clients can benefit with having their bid price processed at 1 spread higher than the best ask price for buy order, or having their ask price processed at 1 spread lower than the best bid price for sell order.
