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Time-in-force

When placing a pending order, investors can choose its validity period, i.e. time-in-force. Choices include Day and GTC (Good-Til-Canceled).

1. Day

A Day order is active until market close, and unfilled orders will be cancelled after market close.

Note: For stocks/ETFs, unfilled orders will be canceled after market close, i.e. 4:10 PM.


2. Good-Til-Canceled (GTC)

2.1 A GTC order remains active until it is fully filled, cancelled or fails. Investors can place a pending order at an ideal price in advance.

2.2 Notes:

● Unfilled orders will be cancelled after market close, and when the Pre-opening Session begins on the next trading day, will be queued and submitted again to the exchange as an at-auction limit order for pre-opening auction.

Keep in mind: If an order is submitted at a price deviating from the current best bid or ask price by 24 spreads, it will be rejected by the HKEX and fails, and a new order need to be placed.

● A GTC order remains open for up to 90 calendar days, and will be cancelled automatically after expiration.