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Rules


Stock exchange details of each country 
 
Stock exchange and settlement details of Shanghai and Shenzhen, China


Country

Trading hour (Hong Kong)

Transaction currency

Delivery currency

Delivery time

Earliest time to accept order (Hong Kong)

 

 

China

Monday to Friday; competitive price transaction is applied into use; 9:15 to 9:25 on each transaction day is the time for open call auction; 9:30 am to 11:30 am and 13:00 pm to 15:00 pm are time for continuous auction, except the stock that is resumed after suspended during the trading hours.

RMB

RMB

T +1

09:15 on Monday to Friday

Transaction details of Hong Kong


Country

Trading hour (Hong Kong)

Transaction currency

Delivery currency and time

Earliest time to accept order (Hong Kong)

Hong Kong

Monday to Friday: 21:30 pm - 04:00 am (in summer); 22:30 pm - 05:00 am (in winter)

USD

USD, HKD T + 3

09:00 am on Monday to Friday




Transaction and settlement details of UK


Country

Trading hour (Hong Kong)

Transaction currency

Delivery currency

Delivery time

Earliest time to accept order (Hong Kong)

 

 

UK

Monday to Friday: 15:00 pm - 11:30 pm (in summer); 16:00 pm - 00:30 am (in winter)

GBP, USD, Euro

GBP, HKD, USD, Euro

T + 3  to T + 20

08:00 am on Monday to Friday




Transaction and settlement details of South Korea


Country

Trading hour (Hong Kong)

Transaction currency

Delivery currency

Delivery time

Earliest time to accept order (Hong Kong)

 

 

South Korea

Monday to Friday: pre-opening session: 7:30 am - 8:00 am; opening session: 8:00 am - 13:50 pm

KRW

KRW, HKD, USD

T + 2

16:00 pm on Monday to Friday




Transaction and settlement details of Australia


Country

Trading hour (Hong Kong)

Transaction currency

Delivery currency and time

Earliest time to accept order (Hong Kong)

Australia

Monday to Friday
7:00 am -13:00 pm (in summer)
8:00 am -14:00 pm (in winter)
* Due to geography, the winter and summer time of Australia is contrary to that of Hong Kong.

AUD

AUD
HKD
USD  T + 3

16:00 pm on Monday to Friday




Transaction and settlement details of Thailand 
Trading hours of Thailand stock market: 
Trading hours are 10:55 am to 13:30 pm and 15:25 pm to 17:35 pm (HK time) from Monday to Friday, except public holidays. Bangkok time is one hour later than Hong Kong time. The market will not be opened during public holidays, or circuit breaker system of the entire market will be started during the time. 
What is circuit breaker system? 
CIRCUIT BREAKER is a management system in case of extreme fluctuations. Once the system is started, all the transaction activities during normal trading hours will be suspended. If the general stock price in Thailand falls by ten to twenty percent of the closing quotation of the last day, the system will be triggered. 
Guide on minimum spread of Thailand exchange:


Price of each stock (THB)

Minimum spread (THB)

Less than 2

0.01

2 to lower than 5

0.02

5 to lower than 10

0.05

10 to lower than 25

0.10

25 to lower than 50

0.25

50 to lower than 100

0.50

100 to lower than 200

1.00

200 to lower than 400

2.00

400 to lower than 800

4.00

800 or more

6.00




If the lot size is 100, less than 100 shares will be regarded as odd lot. Odd lot cannot be exchanged on line but only can be done by telephone instead. 
Valid time of transaction instruction: 
All the transaction instructions are only valid within a day, and the unfinished transaction will be cancelled automatically after closing. 
Other notes: 
Short sales are not allowed in Thailand. 
The commission of the transaction of the same share done on a day will be combined for calculation. 
All the transaction instructions are only valid within a day, and the unfinished transaction will be cancelled automatically after closing. 
Settlement details: 
Transaction currency: THB 
Delivery currency: THB, HKD or USD 
Delivery time: T+ 3 
Note: Thailand government implements foreign exchange control within limits.

Transaction and settlement details of Germany


Country

    Trading hour (Hong Kong)

   Transaction currency

Delivery currency and time

 

Germany

Monday to Friday




XETRA: 15:00 - 23:30 (in summer), 16:00 - 00:30 (in winter); Frankfurt and other: 14:00 - 02:00 (in summer), 15:00 - 03:00 (in winter) 
T + 2    
Number of stock: 1 
Other details of German market: no circuit breaker system; accepting day trade; short selling not allowed.

Transaction and settlement details of Japan


Country

Trading hour (Hong Kong)

Transaction currency

Delivery currency

Delivery time

Earliest time to accept order (Hong Kong)

 

 

Japan

Monday to Friday
Opening:
8:00 am -10:30 am
11:30 am -14:00 pm
New trading hour took effect on November 21, 2011

JPY

JPY
HKD
USD

T + 3

16:00 pm on Monday to Friday




Transaction and settlement details of Singapore


Country

Trading hour (Hong Kong)

Transaction currency

Delivery currency

Delivery time

Earliest time to accept order (Hong Kong)

 

 

Singapore

Monday to Friday
Pre-opening session: 08:00 am - 08:59 am
Opening session: 09:00 am -17:00 pm
Pre-closing session: 17:00 pm -17:05 pm
Closing session: 17:06 pm
New trading hour took effect on August 1, 2011

SGD
USD
HKD
AUD

SGD
USD
HKD
AUD

T+3

18:15 pm on Monday to Friday




Transaction and settlement details of Canada


Country

Trading hour (Hong Kong)

Transaction currency

Delivery currency and time

Earliest time to accept order (Hong Kong)

Canada

Monday to Friday
21:30 pm - 04:00 am (in summer)
22:30 pm - 05:00 am (in winter)

CAD

T + 3
CAD
USD
HKD 
T + 3

09:00 am on Monday to Friday




 

Transaction and settlement details of Taiwan 
Trading hours of Taiwan stock market:: 
Trading hours of underlying stock: (no time difference between Taiwan and Hong Kong)
09:00 am - 1:30 pm
Trading hours of odd lot
1:40 pm - 2:30 pm
Unit of number of stock:
Less than 1,000 shares will be regarded as odd lot. 
Transaction details of odd lot: 
1) Less than 1,000 shares will be regarded as odd lot; 
 (2) Trading hours: application is accepted during 1:40 pm to 2:30 pm on trading day;
 (3) Call auction is disclosed in 5 minutes before the deadline of the application of odd lot (2:25 pm to 2:30 pm); 
 (4) Transaction is reached by means of call auction after 2:30 pm;
Restrictions on amount of increase and decrease in securities trading
The amount of increase and decrease indicates the increase and decrease range for the securities applied for trading every day, and it’s subject to certain percentage of the closing price on the day before.
When the current price rises to the upper limit, the client can still place an order, but the price won’t rise on a trading day.
When the current price declines to the lower limit, the client can still place an order, but the price won’t decline on a trading day.
How to calculate limit price of daily securities?
The stock is subject to seven percent of the closing price on the day before, so the limit price is based on the closing price on the business day before. The product of the base price and 107% indicates the limit-up price, and the product of the base price and 93% indicates the limit-down price.
Example:
In case that the closing price of a stock on the business day before is CNY 40.5, according to Article 63 of business rules: the limit-up price is calculated by 40.5*107%=43.335, and the limit-down price is calculated by 40.5 * 93%=37.665
The fluctuation unit of the unit market price of each stock and each beneficiary certificate that is CNY 15 or less is 0.1 yuan, so the limit-up price that meets the regulation of fluctuation unit is 43.3 and 43.4 and the limit-down price is 37.6 and 37.7. In case of 43.4 and 37.6 respectively, the regulation will not be satisfied. Therefore, according to the above stipulations, the limit-up price of the stock is 43.3 Yuan, and the limit-down price is 37.7, so the limit-up and limit-down price never exceed the limit of 7%.


Transaction cost of Taiwan stock

Brokerage

0.25% of AMO (NTD 600 as the minimum)

Sales tax (only applies to short selling)

Stock - 0.3% of AMO




Exchange Traded Fund of Taiwan Stock Exchange - 0.1% of AMO
Transaction levy (custodian bank): NTD 250
Commission charge of each single stock can be collected once a day at most from the buyer and seller respectively
Settlement currency that can be selected by clients: HKD/ USD/ NTD (with limits)
Trustee fee (storage charges): total value of portfolio x 0.12% / 12 (HKD 50 as minimum, and collected in the end of a month) 
Settlement details:
Transaction currency: HKD/ USD/ NTD
Settlement currency: HKD/ USD/ NTD 
Settlement time: T+1