Securities Services   Description on Order Type
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Order Type

Description

Limit

This order type allows matching at the specified price queue.

Enhanced Limit

An enhanced limit order will allow matching of up to five price queues at a time. The ask order price can be input at four spreads lower than the current bid price, or the bid order price can be input at four spreads higher than the current ask price. Any unfilled quantity after matching will be stored in the System as a normal limit order at the input order price.

Special Limit

A special limit order has no restriction on the limit price with respect to the best price on the other side of the market. It will match up to five price queues (i.e. the best price queue and up to the fifth queue at four spreads away) as long as the traded price is not worse than the limit price input. Any unfilled quantity after matching will be cancelled and will not be stored in the System.

At Auction

An at-auction order is an order with no specified price and is entered into the trading system for execution at the final IEP. Any unfilled at-auction orders will be cancelled before the commencement of the Continuous Trading Session.

The order input period for At-Auction orders is 9:30a.m. - 9:50 a.m.

Any At-Auction order input during order matching period (9:50a.m. - 9:58a.m.) and blocking period (9:58a.m. - 10:00a.m.) will be subject to rejection.

At Auction Limit

An at-auction limit order is an order with a specified price. An at-auction limit order with a specified price at or more competitive than the final IEP (in case of buying, the specified price is equal to or higher than the final IEP, or in case of selling, the specified price is equal to or lower than the final IEP) may be matched at the final IEP. Any unfilled 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 at-auction limit order does not deviate 9 times or more from the nominal price.

The order input period for At-Auction Limit orders is 9:30 a.m. - 9:45a.m.

Any At-Auction Limit order input during pre-order matching period (9:45a.m. - 9:50a.m.), order matching period (9:50a.m. - 9:58a.m.) and blocking period (9:58a.m. - 10:00a.m.) will be subject to rejection.

 

 

 

Note: IEP (Indicative Equilibrium Price) is the price at which the
maximum number of shares can be traded if matching occurs at that time.

Data source: Hong Kong Exchanges and Clearing Limited

 

Risk Disclosure Statement

The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.

Information of stock prices and indexes provided by us and /or other Information Services Provider is for your reference only and we accept no responsibility in the accuracy of such information.

 

 

 

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