Securities Online Trading

Internet has become an inevitable part of our life, we do know that it brings us convenience and advantages. Therefore, we provide a sophisticated online trading platform, and let our customers enter the market directly via this simple and quick medium.

Receive one-time-password for HK securities trading using mobile app “AFE Alert Pro”: User Guide

 

*We offer another download version “Lightning trading platform”. The “Lightning Trading Platform” is only available in Chinese. We apologize for the inconvenience caused. Please Click here for further information of download version trading platform.

Trading Rules

  1. Trading hours (Hong Kong Time)
    Pre-opening Session 09:00am to 09:30am
    Morning Session 09:30am to 12:00noon
    Afternoon Session 01:00pm to 04:00pm

    (*Not applicable under special circumstances and during Hong Kong Public Holidays)

  2. You can contact our customer service via phone or utilize the online trading system to give order instructions. After an order is placed on the trading platform, you can call our customer service to amend or cancel that order instruction. Any transaction concluded via customer service will be charged a commission according to company’s standard rates. Any order instructions placed via customer service will be reflected on the trading platform in real time, you can amend or cancel that order in the same way before the transaction is executed.
  3. Please refer to the User Guide for the functions of the trading platform.
  4. For an efficient operation of the trading platform, we need to carry out data back up on each trading day, the trading platform will be suspended as follows:-
    Sat 05:00 to 06:05
    Sun to Fri 06:00 to 06:05
  5. Before you place the order to purchase securities, you are required to deposit sufficient fund in the company. At present we do not provide online margin fund credit services.
  6. Limit Order (LO) Buy Limit Orders: The order price should fall at or 20 spreads lower than the prevailing market price.Sell Limit Orders: The order price should fall at or 20 spreads higher than the prevailing market price.
    At-Auction Order (AO) An at-auction order is an order with no specified price and is entered into the trading system during the Pre-opening Session for execution at the final IEP. It enjoys a higher matching priority than an at-auction limit order.An at-auction order will be automatically cancelled if unmatched.
    At-Auction Limit Order (ALO) An at-auction limit order is an order with a specified price and is entered into the trading system, but the entered ask/bid price must within the range of nine times higher/lower of current ask/bid price. ALO has a specified price at or more competitive than the final IEP. Depending on market conditions, not all at-auction orders can be matched. As a result, unmatched at-auction orders will be cancelled after order matching.
    Enhanced Limit Order (ELO) An enhanced limit order allows matching of up to ten price queues at a time. Unmatched ELO will become same price LO. Changes made of ELO input of ask/bid price should not lower/higher than current input price. Otherwise the system will reject any changes.
  7. For the buy limit order, the price must be set at the market price or within 20 spreads lower than the market price. For the sell limit order, the price must be set at the market price or within 20 spreads higher than the market price, otherwise the order instruction can not be delivered.
  8. The trading instruction is only valid till day-ends, all instructions not successfully executed will not be carried forward to the next trading day.
  9. If you have forgotten your login password to the trading platform, please contact our Customer Service Dept at (852) 2919 2919. We will reset your password and send it to you in a sealed envelope by post.
  10. The commission charged for orders placed via online trading platform is separated from the commission charged for orders placed via phone.
  11. In order to reward support from customers, there is also an Online Trade Free Quotation Scheme as follows:
  12. Monthly Securities Commission
    (HKD Equivalent)
    (ii) 
    Free Real-time Snapshot / Streaming (iii) (iv)
    Online Trading Platform
    <500 200 quotes
    ≥ 500 and < 1,500 500 quotes
    ≥ 1,500 and < 2,500 800 quotes
    ≥ 2,500 Free Streaming

    Alternatively, customers can choose our streaming quotation services with a monthly fee of HKD$390.00, the streaming quotation fee is charged in advanced. Full streaming quotation fee shall also be charged, even the services is started or is terminated in the middle of a month.

  1. In case of any emergency (such as adverse weather condition), you are requested to pay attention to the news or announcements made by the Hong Kong Exchanges and Clearing Limited
  2. Securities Commission in HK market (including Stock Connect Northbound Trading) from the last trading day in the previous month and the second last trading day in the current month.
  3. Any remaining free real-time snapshots will be cancelled at the end of the month.
  4. HKD$0.3 shall be charged for each additional quote used.

Important Notes on Stock Connect Northbound Trading Service

Trading Hour

SSE Trading SessionSSE Trading HoursTime for Exchange Participants to input Northbound orders
Opening Call Auction 09:15-09:25 09:10-11:30
Continuous Auction (Morning) 09:30-11:30
Continuous Auction (Afternoon) 13:00-15:00 12:55-15:00
  • SEHK will accept Northbound orders from Exchange Participants five minutes before the Mainland market session opens in the morning and in the afternoon.
  • 09:20 – 09:25: SSE will not accept order cancellation
  • 09:10 – 09:15; 09:25 – 09:30; 12:55 – 13:00: Orders and order cancellations can be accepted by SEHK but will not be processed by SSE until SSE’s market open
  • Orders that are not executed during the opening call auction session will automatically enter the continuous auction session

Quota (Aggregated Quota and Daily Quota)

Trading under Shanghai-Hong Kong Stock Connect will, initially, be subject to a maximum cross-boundary investment quota (i.e., Aggregate Quota), together with a Daily Quota. Northbound trading and Southbound trading will respectively be subject to a separate set of Aggregate and Daily Quota, which is monitored by SEHK and SSE respectively.

 Northbound TradingSouthbound Trading
Aggregated Quota (RMB) RMB 300 billion RMB 250 billion
Daily Quota (RMB) RMB 13 billion RMB 10.5 billion

* Important:
Both the Aggregate Quota and the Daily Quota will apply on a “net buy” basis. Under that principle, clients will always be allowed to sell their cross-boundary securities regardless of the quota balance.

Aggregated Quota

Aggregate Quota balance = Aggregate Quota – aggregate buy trades + aggregate sell trades
(calculated at the weighted average cost)

* The weighted average cost of aggregate sell trades is calculated based on the purchase cost of all buy trades of the respective SSE Security conducted in Northbound Trading and is not the actual corresponding buy trades conducted by each individual EP.

If Aggregate Quota Balance is less than Daily Quota, Northbound buying will be suspended on the next trading day. However, investors can continue to sell SSE Securities, which will then increase the Aggregate Quota Balance. SEHK will re-open Northbound buying once the Aggregate Quota balance returns to the Daily Quota level or above.

Daily Quota

Daily Quota Balance = Daily Quota – Buy Orders + Sell Trades + Adjustments*

* Daily Quota Balance will be increased in the following scenarios:

  • The cancellation of the buy orders, or
  • The buy order was rejected by the counterparty, or
  • The buy order was executed at a better price

Once the Northbound Daily Quota Balance drops to zero or is exceeded during a continuous auction session (Continuous Trading), no further buy orders will be accepted for the remainder of the day. Subject to the Aggregate Quota Balance, SEHK will resume the Northbound buying service on the following trading day. Once the Northbound Daily Quota Balance drops to zero or the Daily Quota is exceeded during the opening call session, new buy orders will be rejected. However, as order cancellation is common during opening call auction, the Northbound Daily Quota Balance may resume to a positive level before the end of the opening call auction. When that happens, SEHK will again accept Northbound buy orders. It should be noted that buy orders already accepted will not be affected by the Daily Quota being used up and will remain on the order book of SSE unless otherwise cancelled by the relevant Exchange Participants. Details can be referred to the following table:

Time when Daily Quota balance drops to zero or becomes negativeWill buy orders be accepted again?
During that sessionIf subsequently the Daily Quota Balance>0
09:10–9:15 (5-minute input period) No Yes
09:15–9:25 (Opening Call Auction) Only if subsequently the Daily Quota Balance > 0 Yes
09:25–9:30 (5-minute input period) Only if subsequently the Daily Quota Balance > 0 Yes
09:30–11:00 (Continuous Auction - Morning) No No
12:55–13:00 (5-minute input period) No No
13:00–15:00 (Continuous Auction - Afternoon) No No

Trading Arrangement

In the initial stage of operation of Shanghai-Hong Kong Stock Connect, clients will only be allowed to trade on the other market on days where both markets are open for trading, and banking services are available in both markets on the corresponding settlement days. Details can be referred to the following table:

 MainlandHong KongCorresponding Settlement Days of TransactionNorthbound TradingRemarks
SecuritiesMoney
Monday Trading Day Trading Day Monday Tuesday Yes As corresponding settlement days are trading day & settlement services are available
Tuesday Trading Day Trading Day Tuesday Wednesday No As Wednesday is HK holiday, no settlement service will be provided. Trading services will be closed on Tuesday
Wednesday Trading Day Holiday --- --- No Hong Kong holiday, market closes
Thursday Holiday Trading Day --- --- No Mainland holiday, market closes

If a Northbound trading day is a half trading day in Hong Kong market, Northbound Trading will continue until SSE market is closed. The Northbound trading calendar will be available on HKEx website before launch of Shanghai-Hong Kong Stock Connect.

Trading Information

  • Trading Currency for SSE Securities is in RMB only.
  • For Northbound trading, only limit orders (SSE limit orders can be matched at the specified or better price) will be accepted for SSE Securities throughout the day and the orders cannot be amended. Exchange Participants who wish to amend their Northbound orders must cancel the original orders first and then input new orders.
  • Day trading is not allowed for Mainland A shares market. Therefore, buying SSE Securities on T-day can only sell the shares on and after T+1).
  • The existing RMB Equity Trading Support Facility operated by Hong Kong Securities Clearing Company Limited (HKSCC), which serves as a back-up facility to enable investors to use HKD to buy RMB-denominated shares listed on SEHK, will not be available for SSE Securities trading initially. Clients should ensure they have sufficient RMB to settle SSE Securities trades.
  • All trading must be conducted on SSE, i.e. no over-the-counter (OTC) or manual trades are allowed; also block trade facility will not be available.
  • At inception, Shanghai-Hong Kong Stock Connect will only encompass secondary market trading. Primary market activities, such as initial public offering will not be supported.
  • The stock codes of SSE Securities are 6 digits and clients should use SSE stock codes when placing orders. All SSE Securities are subject to the same trading board lot size, which is 100 shares (buy orders must be in board lot). Odd lot trading is only available for sell orders and all odd lots should be sold in one single order. It is common that a board lot buy order may be matched with different odd lot sell orders, resulting in odd lot trades. It should be noted that unlike Hong Kong, board lot and odd lot orders are both matched on the same platform on SSE, and subject to the same share price. The maximum order size is 1 million shares and the tick size is uniformly set at RMB 0.01.
  • For Northbound trading, investors are allowed to input odd lot sell orders. However, odd lot buy orders will not be accepted. In addition, an investor (or ultimate beneficial owner) who places an odd lot sell order must ensure he/she sells all the odd lot in that SSE Security in one go.
  • For SSE Securities, there is a general price limit of ±10% (and ±5% for stocks under special treatment (i.e. ST and *ST stocks) in the risk alert board) based on previous closing price. The upper and lower price limit will remain the same intra-day.
  • Based on the shareholdings of an investor, SSE will reject a sell order if the client does not have sufficient shares in his account. For Northbound trading, SEHK will apply pre-trade checking on all Northbound sell orders at the clients level to ensure there is no overselling by individual client. Sell orders will be rejected if the cumulative sell quantity for the day is higher than the client’s shareholding position at market open. Therefore, when placing sell orders, clients must ensure they have sufficient shares in their accounts opened with the Company who acts as the selling broker. If the shares are kept in an account opened with another Exchange Participant or a custodian, clients must first transfer the shares to the Company on T-1 in order to sell their shares on T day. An additional settlement instruction (SI) session will be available in the morning on T day to allow custodians to transfer SSE Securities. The sellable quantity of SSE Securities will then be updated for pre-trade checking.

Foreign shareholding restriction and disclosure obligations on SSE Securities

  • Under current PRC rules, unless otherwise permitted by the relevant strategic investor regulations, a single foreign investor’s (i.e. QFII and RQFII) shareholding in a listed company is not allowed to exceed 10% of the company’s total issued shares, while all foreign investors’ shareholding in the A shares of a listed company is not allowed to exceed 30% of its total issued shares. When the aggregate foreign shareholding of an individual A share reaches 26%, SSE will publish notices on its website (http://www.sse.com.cn/disclosure/diclosure/qfii). If aggregate foreign shareholding exceeds the 30% threshold, the foreign investors concerned will be requested to sell the shares on a last-in-first-out basis within five trading days.
  • SSE Securities purchased through Shanghai-Hong Kong Stock Connect will be considered in totality with those purchased by QFII and RQFII, and be subject to the same foreign shareholding restriction. Once SSE informs SEHK that the aggregate foreign shareholding of an SSE Security reaches 28%, further Northbound buy orders in that SSE Security will not be allowed, until the aggregate foreign shareholding of that SSE Security is sold down to 26%. If the 30% threshold is exceeded due to Shanghai-Hong Kong Stock Connect, HKEx will identify the relevant Exchange Participant and require it to follow the forced-sale requirements. HKEx will publish a notification on its website to inform the market about suspension of buy orders if the shareholding limit goes beyond 28% and about the resumption of buy orders if the shareholding drops below 26%.
  • Foreign investors can continue to sell the A share which aggregate foreign shareholding has reached the 30% threshold. If such selling activities cause the aggregate foreign shareholding to drop below the 30% threshold within 5 trading days, Exchange Participants who were subject to the forced-sale requirement may submit application to the SEHK for forced-sale exemption on behalf of the clients. For details, please refer to the HKEx website http://www.hkex.com.hk.
  • According to the Law of the PRC on Securities, when an investor holds or controls up to 5% of the issued shares of a Mainland listed company, the investor is required to report in writing to the CSRC and the relevant exchange, and inform the listed company within three working days. The investor is not allowed to continue purchasing or selling shares in that listed company during the three days. For such investor, every time when a change in his shareholding reaches 5%, he is required to make disclosure (in the same manner as mentioned above) within three working days. From the day the disclosure obligation arises to two working days after the disclosure is made, the investor may not buy or sell the shares in the relevant Mainland listed company. If a change in shareholding of the investor is less than 5% but results in the shares held or controlled by him falling below 5% of the relevant Mainland listed company, the investor is required to disclose the information within three working days.

Other Information

For other relevant information of SSE Securities, please refer to the page of Shanghai-Hong Kong Stock Connect.

Overseas Security Trading Platform

(Online version)

US Securities – Trading Rules

  1. Markets
    New York Stock Exchange (NYSE) 及 NASDAQ Stock Market (NASDAQ)
  2. Trading Hours (HKT Monday to Friday)
    Summer 21:30 – 04:00
    Winter 22:30 – 05:00

    (Not applicable under special circumstances and during US Public Holidays )
  3. Settlement Currency
    USD
  4. Settlement Duration
    T+3
  5. U.S. stock trades transacted after the Hong Kong market close in the same trading day (T) will be reported as T+1 trades in daily and monthly statements.
  6. Before you place the order to purchase securities, you are required to deposit sufficient fund in the company. At present we do not provide online margin fund credit services.
  7. You can contact our customer service via phone or utilize the online trading system to give order instructions. After an order is placed on the trading platform, you can call our customer service to amend or cancel that order instruction. Any transaction concluded via customer service will be charged a commission according to company’s standard rates. Any order instructions placed via customer service will be reflected on the trading platform in real time, you can amend or cancel that order in the same way before the transaction is executed.
  8. The commission, levy, and trading fee would not be deducted from your cash balance in trading account, until the next trading day and before 7:00 pm (HKT).
  9. Please refer to the User Guide for the functions of the trading platform.
  10. If you have forgotten your login password to the trading platform, please contact our Customer Service Department at (852) 2919 2919. We will reset your password and send it to you in a sealed envelope by post.

U.S. Market Real-Time Price Quote Service

  1. Annual service fee (USD 36) OR a service fee calculated on pro-rata basis (USD 3 per month) will be debited from your securities account in advance on the date of service activation (and the first working day of each subsequent calendar year).
  2. For termination of service, service fee refund will be calculated within 1 month after termination notification, and the calculation is on a monthly basis.
  3. To terminate US market real-time quotation service, please notify ESL in writing at least 7 working days before the next service period start (i.e. before each calendar year end cut off day). Otherwise, your access to our US Market Real-Time Price Quote Service will be renewed automatically on a yearly basis.

Upon termination of U.S. stock online trading service, the U.S. Market Real-Time Price Quote Service will also be terminated accordingly.

Stock Options Trading

Stock markets worldwide have become more volatile in recent years. With stock options, investors can enjoy the benefits of leveraging, hedging their risks and having access to a wide variety of investment products. Our online stock option trading platform enables investors to preserve and maximise the returns of their investment portfolio easily and cost‐effectively. Investors are able to freely implement different investment strategies as they wish.

Please click here for installation instructions

Login to the platform

After installing the Platform, click on the "sptrader" icon on the desktop sptrader Then log in to the Platform as instructed below.

sptrader
Domain: "220.241.155.41" or "so.emperorcapital.com"
User: Please enter your User ID
Password: Please refer to the password listed at the bottom of your email

Stock Options – Notes on Trading

  1. Trading Hours:
    AM Session: 9:30 AM- 12:00 noon
    PM Session: 1:00 PM- 4:00 PM
  2. You may contact your broker or use the online trading system to execute buy or sell orders.Once you have placed an order on the trading platform, you may contact the broker to change or cancel the unfinished transaction instructions. However, once a trading order has been acknowledged and agreed upon, it may not be modified or cancelled.Once transactions are completed through the Customer Service Department, commission will be charged in accordance with the Company’s standard rates.Trading transactions placed through the Customer Service Department will also be displayed on the trading platform. You may also change or cancel these transactions prior to the completion of the instruction.
  3. The total cash amount on your online trading platform is shown without commission, transaction cost and transaction levy deductions until before 9:00 am of the next trading day.