a) What is Market Order Service?
Market Order Service helps customers to buy or sell securities at the prevailing market price immediately. Market order is an order which client does not set a limit price. Such order will be executed at prevailing market price at time of execution. The executed price may not fall within or largely deviate from client’s expected price at the time of order placing especially at the beginning of morning trading session as many accumulated pre-market opening orders have to be handled.
b) How is Market Order being executed?
Your Market Order will submit to the market (i.e. The Stock Exchange of Hong Kong (SEHK)) with one try only for auto-matching and execution by matching it up to 10 best price queues at SEHK (i.e. the prevailing best queue and up to the 10th queue at 9 spreads away at the time when the market order is processed.) and up to a maximum of 20 spreads from the prevailing nominal price (as the case may be). Any unfilled quantity of your market order as a result of the above mechanism will be automatically cancelled immediately.
c) Will the outstanding quantity of my market order being queued in the market?
No. Any unfilled quantity of your market order will be automatically cancelled immediately and will not be queued in the market. You may place another order as you wish.
d) Any Good Till Order options?
No. Only One Day Order for Market Order is available.
e) What are the service hours for Market Order?
Our service hours are 9:30 am to 12:00 noon and 1:00 pm to 3:59 pm of each trading day.
f) What if the funding of the settlement account to settle a Market Order is insufficient due to volatile market movement?
Taking into account of customer’s background and the credit risk involved, Bloomyears Limited can, at its absolute discretion, purchase in whole or in part of the market order received and the customer has to settle the shortfall before T+2 days. Otherwise, Bloomyears Limited has the right to sell the related securities at any time to set off the shortfall without prior notice to the customer.