Guotai Junan Securities (Hong Kong) Limited
Notice about Online Trading
1. Funds
No buy order can be placed through internet without sufficient funds in the securities account.
2. No Short Sell
No sell order can be placed through internet without sufficient stocks in the
securities account.
3. Lot size
Internet orders can only be placed with a complete
multiple, but subject to the maximum of 3,000 lots.
4. Quotation
1) The bid or ask order entered on each trading day is governed by the “Rules
of the Exchange”.
2) Order inputted before the end of Random Matching Period (Random between 9:20 am and 9:22) will be sent to the Stock Exchange for order matching automatically.
3) Blocking Period or Continuous Trading Session (After the end of Random Matching Period)
** Buy Order
If a Buy Order is placed within 24 spreads and 100 spreads below the correlative price, the order will be remained as “pending status” until the order price reaches within 24 spreads of the correlative price.
** Sell Order
If a Sell Order is placed within 24 spreads and 100 spreads above the correlative price, the order will be remained as “pending status” until the order price reaches within 24 spreads of the correlative price.
4) After the end of Random Matching Period - 9:30 am, orders placed will halt temporarily and await the market opening.
5. Examples (Continuous Trading Session)
Example 1 (Bid Order Price/ Ask Order Price):
A limit order may be made at a price within the range of 100 spreads below the current bid price and above the current ask price.
|
Bid |
Ask |
|
2.0 |
2.01 |
|
102K (12) |
55K (6) |
|
150K (19) |
80K (4) |
|
33K (6) |
|
Lowest Bid Order Price : HK$1.00
Highest Ask Order Price: HK$3.00
Example 2(Market Price):
A limit order may be made at a price within the range of 10 spreads above the current bid price and below the current ask price.
|
Bid |
Ask |
|
2.0 |
2.01 |
|
102K (12) |
55K (6) |
|
150K (19) |
80K (4) |
|
33K (6) |
36K (6) |
|
250K (21) |
120K (10) |
| |
103K (30) |
Highest Market Bid Price: HK$2.10
Lowest Market Ask Price: HK$1.91
For other examples, please refer to “Rules of the Exchange”.
6. Spread
A spread refers to the smallest allowable change in share price. The spread
of security depends on its share price. For the spread table for all
securities other than debt, please refer to:-
“Rules of the Exchange” Second Schedule - Spread Table
