HK Stock Basics: Why is my order on hold? Watch for trading price and time

Investing with moomoo joined discussion · Apr 12, 2021 04:38

HK Stock Basics: Why is my order on hold? Watch for trading price and time

The Hong Kong Stock Exchange imposes restrictions on the time and price that an order can be submitted. If a customer submits an order to the Hong Kong Stock Exchange during overnight trading hours or at an unallowable price, it will be directly rejected by the Hong Kong Stock Exchange.

To help customers avoid order rejection, Futu Securities will temporarily hold orders that do not meet the submittable standards in the trading system and submit them to the exchange after the stock market reopens.

How does the protection mechanism work?

2. Submittable price range explained

Other instructions

1. The limit on the price that can be submitted for Hong Kong stock orders is determined by the requirements of the Hong Kong Stock Exchange and regulatory agencies. The specific requirements of the Hong Kong Stock Exchange on transaction prices can be found in Chapter 5 of the Exchange Rules.

2. Based on the order price restriction requirements in different trading hours, Futu Securities only provides order submit protection for limit orders (enhanced) orders during continuous trading hours.

If the customer chooses to allow pre-market trading, the system will directly submit the order during the auction period.

3. For orders that have been submitted to the exchange, the system will no longer perform protection.

3.1 Unfilled day orders will be canceled after the end of the current trading day.

3.2 Good-til-canceled orders that have not been executed in the current trading day will return to the system's internal queue after the market closes, continue to carry out protection and wait for the next submission to the exchange until the end of the order life cycle.