HK Stock – Trading Notes
Global Mastermind Securities Limited (GMSL) provides HK Stock trading and order types as follow.
- Enhance Limit (E)
- Special Limit (S)
- Auc. Market (A)
The client can place an order as follow.
- Use the “Online Trade Login” platform to login via our company website and place an order on your own
- Use Mobile Trading (Apps) to log in and place an order on your own. We provide iOS and Android platform for you to download the Apps
- Contact your Account Manager
- Contact our customer service hotline (852) 2763 3939
Normal Trading Hours : 09:00 - 16:00
Grey Market Trading Hours : 16:15 - 18:00
The Pre-opening Session shall comprise four periods in the following sequence
|
Period |
HK Time |
Status of trading system |
Amend or Cancel |
|
Order input period |
09:00 – 09:15 |
Acceptable for entering At-auction Order and At-auction Limit Order within the ±15% price limits |
✔ |
|
No-cancellation Period |
09:15 - 09:20 |
Only accept entering At-auction Order and Limit Order |
✘ |
|
Random Matching Period |
09:20 – up to 09:22 |
Only accept entering At-auction Order and Limit Order |
✘ |
|
Order Matching |
at a random time between 09:20 - 09:22 |
Only accept entering At-auction Order and Limit Order |
✘ |
|
Blocking Period |
after order matching - 09:30 |
No order shall be input into the System |
✘ |
1 For stocks resuming from a trading suspension, the Stage 1 price limit check will not be applied for the first day of trading resumption only (no matter whether there is trade recorded on the day of trade resumption or not).
For details, please visit HKex website:
https://www.hkex.com.hk/Services/Trading/Securities/Overview/Trading-Mechanism/POS-Enhancements-Initiative?sc_lang=en&WT.mc_id=POS_Banner_c
How to place “At-auction Order” and “At-auction Limit Order” via GMSL’s Electronic Trading platform? At the end of the order matching period of the Pre-opening Session when automatic order matching is completed, all auction orders which remain wholly or partly unmatched shall be cancelled and deleted from the System automatically. Such at-auction limit orders shall be converted to limit orders at the input specified price and carried forward to the Continuous Trading Session of the same trading day for automatic order matching. such at-auction limit orders shall be cancelled and deleted from the System at the end of that trading day.
How to enter "at-auction order" and "at-auction limit order" in electronic trading platform ?
- “At-auction Order”
Example: Client A who want to place “At-auction Order” in Order input period. Buy 1000 shares (2-lot) of CKH Holdings (stock number: 000001)
After login to GMSL Electronic Trading platform, client A can choose “Buy”. For Order Type, please choose “A - Auc. Market”. For Product Code and Qty, please type 1 and 1000.
Assume such order can be executed 500 shares in the pre-opening session only, reminding shares (500 shares) shall be cancelled from the System.
- “At-Auction Limit Order”
Example: Client B want to place “At-Auction Limit Order” in Order input period. Buy price : $75, 1200 shares (3-lot) of HSBC (stock number: 000005)
After login to GMSL Electronic Trading platform, client B can choose “Buy”. For Order Type, please choose “E - Enhance Limit”. For Product Code, Price and Qty, please type 5, $75 and 1200.
Assume such order can be executed 800 shares in the pre-opening session only, reminding shares (400 shares) shall be transferred to Trading Session from the System. The Order Type shall be changed to Limit Order.
Here is the status of Opening Session and Closing Session
|
Period |
HK Time |
Status of trading system |
Amend or Cancel |
|
Morning Trading Session |
09:30 – 12:00 |
Acceptable for entering Enhance Limit Order and Special Limit Order |
✔ |
|
Lunch Break |
12:00 – 13:00 |
Acceptable for entering Enhance Limit Order and Special Limit Order. Orders received will be processed in the next trading session |
✔ (Orders which are entered in this period can be amended and canceled) |
|
Afternoon Trading Session |
13:00 – 16:00 |
Acceptable for entering Enhance Limit Order and Special Limit Order |
✔ |
|
Closing Auction Trading (CAS) Session |
16:00 – 16:01 |
The CAS reference price of the CAS securities on that trading day will be calculated |
✘ |
|
16:01 – 16:06 |
Acceptable for entering At-Auction Order and Limit Order |
✔ (within the ±5 percent price limit) |
|
|
16:06 – 16:08 |
Acceptable for entering At-Auction Order and Limit Order |
✘ |
|
|
16:08 – 16:10 |
After the period, orders for all CAS securities are matched at the final IEP. |
✘ |
We strongly recommend that client check the execution status of their existing trading orders before placing new orders, especially during the pre-market opening period and the lunch break period, as orders will only be executed/cancelled after the market opens next.
Every transaction, except for odd lot and special lot transactions, must be for a board lot or multiples of a board lot.
Details of Trading status
|
Trading Status |
Meanings |
| NEW | The order is pending for processing |
| NEW(H) | The order is held at the system until release condition matches |
| WA | The order is waiting for approval |
| Q | The order has been queued in market |
| REJ | The order has been rejected |
| PEX | The order has been partially filled |
| FEX | The order has been filled and completed |
| CAN | The order has been cancelled |
Here is the information of Clearing Participants in CCASS (GMSL)
|
Name |
Global Mastermind Securities Limited |
|
Participants Number |
B02087 |