New Conditional Order
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1. Send Now “Send now” mean there is no condition setting, instruction send as usual. |
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2. Up Trigger If stock price reaches your trigger price, your “Up Trigger” order will be triggered and send your preset order to the market. |
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How to set “Up Trigger” Price : Order Price ( cannot deviate from Trigger price more than +/-24spread ; +/- 3% for A shares markets ) Trigger Price : Must be higher than Nominal Price ( cannot deviate from nominal price more than 20% ) Example to set Up Trigger ( Sell ) Assume HKEX ( 00388 ) Nominal price $221 Price : 221 Trigger Price : 222 When HKEX ( 00388 ) stock price rises to $222 ( Trigger Price ), system will send Sell instruction with limit price $221 to market. |
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After order is sent, trigger condition and order price are shown in ”O/S Orders”
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3. Down Trigger When stock current price drops to or lower than trigger price, system will send your preset order to market. |
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How to set “Down Trigger” Price : Order Price ( cannot deviate from Trigger price more than +/-24spread ; +/- 3% for A shares markets) Trigger Price : Must be lower than Nominal Price ( cannot deviate from nominal price more than 20% ) Example : Set Down Trigger ( Sell ) Assume HSBC ( 00005 ) nominal price 89 Price : 87.6 Trigger Price : 88 HSBC ( 00005 ) drops to $88 ( Trigger price ), system will send Sell instruction with limit price $87.6 to market. |
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After order is sent, trigger condition and order price are shown in ”O/S Orders”
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4. One Cancel Other (“OCO”) OCO mainly applies to Sell instruction, to set Sell Limit and Stop Loss price within one single instruction. When stock price reaches the order price, or it drops to or lower than preset stop loss price, order will be processed, another order will be cancelled at the same time. |
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How to set “OCO” Price : Order Price Trigger Price : Buy: Trigger Price cannot be lower than nominal price more than 20% Sell : Trigger Price cannot be higher than nominal price more than 20% Stop Limit : When stock price reaches trigger price, system will instruction with this price to market (cannot deviate from trigger price by more than +/-24 spreads; +/- 3% for A shares markets) Example : Set OCO ( Sell ) Assume TENCENT ( 00700 ) nominal price 340 Price : 345 Trigger Price : 335 Stop Limit : 334 Order queued in the market with limit price $345, if it is fully executed, stop loss order $334 will be cancelled. |
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After order is sent, trigger condition and order price are shown in ”O/S Orders”
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Conditional Order Risk Disclosure
• Conditional orders applies to HK market and A Shares market only, US market is not applicable.
• Even clients place conditional orders, such as "stop-limit", "Trigger" or “OCO” orders, as market may volatile, system cannot guarantee that trigger order will be fully executed, and taking profit or limiting your loss at the designated price of your limit order.
• All Orders are Day Orders which will be valid until the close of the day for which they were placed.
The order will lapse at the end of the date if the order has not been fully executed.
• Please note that conditional order can be triggered in the Pre-opening session but will only be executed in the Continuous Trading session.
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Enhanced Limit
Order (Default) This order type allows matching in up to 10 price queues, where the price of the trade generated is at or better than the limit price. Unfilled orders after matching will be converted to limit orders at the input limit price. Limit Order This order type allows matching at the specified price queue. Special Limit Order A special limit order will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the traded price is not worse than the input price. A special limit order has no restriction on the input price as long as the order input price is at or below the best bid price for a sell order or at or above the best ask price for a buy order. Any outstanding special limit order will be cancelled. At Auction Order This is a market order which can only be inputted for single price auction during the pre-open session. There is no need to specify the limit price and it will enjoy a higher auction matching priority. Unfilled at-auction orders will be cancelled after auction matching. The order input period for At-Auction orders is 9:00a.m. - 9:20 a.m. At-Auction orders input out of the pre-opening session will be rejected. The information is provided by HKex.
* Please note that for “Limit Order”, “Enhanced Limit Order” and “Special Limit Order” which placed during Pre-marking session will be regarded as “At Auction Limit Order”. Those unfilled orders will be converted to “Limit Order” and trade during the normal trading hour. |
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