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HSBC Internet Banking Info

Pre-Opening Session(9am to 9.30am)

At-auction Limit Order and At-auction Order are applicable in Pre-opening Session. You may place the above instruction via HSBC Internet Banking.
 
Pre-opening session At-auction order limit - 
Capture
At-auction order limit - 
Amend
At-auction order limit - 
Cancel
At-auction order
- Capture
At-auction order
- Amend
At-auction order
- Cancel
Order Input Period 9.00am-9.15am
Yes Yes Yes Yes Yes Yes
Pre-order Matching Period 9.15am-9.20am
No No
No
Yes No
No
Order Matching Period 9.20am-9.28am
No
No
No
No No
No
Blocking Period 9.28am-9.30am
No
No
No
No No
No

Pre-Opening Session(9am to 9.30am)

At-auction Limit Order and At-auction Order are applicable in Pre-opening Session. You may place the above instruction via HSBC Internet Banking.
 
Order Input Period
Pre-opening session 9.00am-9.15am
At-auction order limit - 
Capture
Yes
At-auction order limit - 
Amend
Yes
At-auction order limit - 
Cancel
Yes
At-auction order
- Capture
Yes
At-auction order
- Amend
Yes
At-auction order
- Cancel
Yes
 
Pre-order Matching Period
Pre-opening session 9.15am-9.20am
At-auction order limit - 
Capture
No
At-auction order limit - 
Amend
No
At-auction order limit - 
Cancel
No
At-auction order
- Capture
Yes
At-auction order
- Amend
No
At-auction order
- Cancel
No
 
Order Matching Period
Pre-opening session 9.20am-9.28am
At-auction order limit - 
Capture
No
At-auction order limit - 
Amend
No
At-auction order limit - 
Cancel
No
At-auction order
- Capture
No
At-auction order
- Amend
No
At-auction order
- Cancel
No
 
Blocking Period
Pre-opening session 9.28am-9.30am
At-auction order limit - 
Capture
No
At-auction order limit - 
Amend
No
At-auction order limit - 
Cancel
No
At-auction order
- Capture
No
At-auction order
- Amend
No
At-auction order
- Cancel
No

Closing Auction Session (4pm - 4.10pm)

During 4.01pm to 4.10pm of the Closing Auction Session, you can input At-auction Limit Order within price range and At-auction Order. Please refer to the table below for the arrangement of order input, cancellation and amendment and price limit in the Closing Auction Session.
Time Session Description
9.30pm - 12.00noon 1.00pm - 4.00pm
Continuous Trading Session
Reference price based on the median of 5-snapshot nominal prices in the last minute of Continuous Trading Session
4.00pm - 4.01pm
Closing Auction Session - Reference Price Fixing Period (1 min)
  • Calculate & publish reference price 
  • No Input, Cancel & Amend 
  • Orders within price limit will be automatically carried forward
4.01pm - 4.06pm
Closing Auction Session - 
Order Input Period (5 mins)
  • Price Limit: 5% of Reference Price
  • Order Type Allowed: At-auction Order At-auction Limit Order
  • Order Input, Cancellation & Amendment:
    Allow Input, Cancel & Amend

4.06pm - 4.08pm
Closing Auction Session - 
No-Cancellation Period (2 mins)
  • Price Limit: 5% of Reference Price
  • Order Type Allowed: At-auction Order At-auction Limit Order
  • Order Input, Cancellation & Amendment: Input Allowed, Cancel & Amend Not Allowed
4.08pm - 4.10pm
Closing Auction Session - 
Random Closing Period (2 mins)
  • Price Limit: Within lowest ask & highest bid
  • Order Type Allowed: At-auction Order At-auction Limit Order
  • Order Input, Cancellation & Amendment: Input Allowed, Cancel & Amend Not Allowed

Closing Auction Session (4pm - 4.10pm)

During 4.01pm to 4.10pm of the Closing Auction Session, you can input At-auction Limit Order within price range and At-auction Order. Please refer to the table below for the arrangement of order input, cancellation and amendment and price limit in the Closing Auction Session.
Time 9.30pm - 12.00noon 1.00pm - 4.00pm
Session Continuous Trading Session
Description Reference price based on the median of 5-snapshot nominal prices in the last minute of Continuous Trading Session
Time 4.00pm - 4.01pm
Session Closing Auction Session - Reference Price Fixing Period (1 min)
Description
  • Calculate & publish reference price 
  • No Input, Cancel & Amend 
  • Orders within price limit will be automatically carried forward
Time 4.01pm - 4.06pm
Session Closing Auction Session - 
Order Input Period (5 mins)
Description
  • Price Limit: 5% of Reference Price
  • Order Type Allowed: At-auction Order At-auction Limit Order
  • Order Input, Cancellation & Amendment:
    Allow Input, Cancel & Amend

Time 4.06pm - 4.08pm
Session Closing Auction Session - 
No-Cancellation Period (2 mins)
Description
  • Price Limit: 5% of Reference Price
  • Order Type Allowed: At-auction Order At-auction Limit Order
  • Order Input, Cancellation & Amendment: Input Allowed, Cancel & Amend Not Allowed
Time 4.08pm - 4.10pm
Session Closing Auction Session - 
Random Closing Period (2 mins)
Description
  • Price Limit: Within lowest ask & highest bid
  • Order Type Allowed: At-auction Order At-auction Limit Order
  • Order Input, Cancellation & Amendment: Input Allowed, Cancel & Amend Not Allowed

Note.

  1. Only eligible stocks can participate in the Closing Auction Session. Please refer to the Stock Exchange of Hong Kong (HKEX) website for eligible stocks list. 
  2. Auction matching ends randomly within the 2-minute period from 4.08pm to 4.10pm, randomly determined by the HKEX's system. 
  3. For half day trading, the Closing Auction Session will be from 12.00noon to 12.10noon.

Order Type in Auction Period

At-auction limit order

An at-auction limit order is a buy order or a sell order in Pre-opening Session and Closing Auction Session, with a specified price input. When the specified price is (in the case of a buy order) equal to or higher than final IEP*, or (in the case of a sell order) equal to or lower than the final IEP*, the order will be matched at the final IEP* (subject to the HKEX order automatic matching result).

In Pre-opening Session, we currently handle At-Auction Limit Orders with 500 spreads to help you manage your risk. Any unmatched at-auction limit order would be converted to a limit order and carried forward to the Continuous Trading Session. In Closing Auction Session, any unmatched today order will be unexecuted at the end of the trading session, while any unmatched multiple day order yet to expire will be carried forward to the next trading day.

At-auction order

An at-auction order is a buy order or a sell order in Pre-opening Session and Closing Auction Session, with no specified price input. The order will be matched at the final IEP* (subject to the HKEX order automatic matching result). Please note that the execution price of At-auction Order may substantially deviate from the stock price at the time you submitted the order.

Any unmatched order will be unexecuted at the end of the trading session.

 

* Indicative Equilibrium Price (IEP) refers to the price where the maximum number of shares can be traded if order matching occurs at that time. Final IEP will be the opening price of the relevant stock in Pre-opening Session, and closing price in Closing Auction Session. Please refer to the HKEX website for detailed definition.

 

Please refer to HKEX website for details of Auction Trading Period.