Last updated on 4 Sept, 2018

Guidance Notes on Good-Til-Cancel (“GTC”) and Good-Til-Date (GTD) Orders

We would like to provide information and risk disclosures regarding GTC and GTD orders below in order to facilitate Customers’ securities trading in account(s) held with us.

All GTC orders placed with Phillip Securities (Hong Kong) Limited (the “Company”) are assigned an expiration date of 30 calendar days only. Meanwhile, a GTD order is an order that lets Customer assigns a specific expiration date until which an order will continue to work. Similar to the GTC order, the maximum duration for a GTD order is 30 calendar days only. Both GTC and GTD orders will continue to be in force until it is filled, partially filled, or cancelled. Please take note of the following when placing either a GTC or GTD order (“Order”):

1. Once an Order is partially filled, the Order will be cancelled automatically at day end.

2. The particulars of an Order will not be altered in the event of any corporate actions (e.g. shares split, shares consolidation, stock code change, or ex-date events). Any orders affected by corporate actions may results in (i) a failure to execute the Order; (ii) losses or worse-than-expected execution results. Customers should stay abreast of corporate announcement notifications of their own accord and subscribe to relevant email announcement, newsletter, or updates (where available).

3. New orders ARE NOT regarded as GTC or GTD orders regardless of how the original Order is cancelled, unless explicitly stated otherwise by the Customer.

4. When an Order expires or is cancelled, the Company will not renew the Order automatically nor contact the Customer regarding the status of the Order.

5. The Company may cancel an Order at its discretion for any reason (e.g. credit issue of the Customer, suspension of the Customer account, etc.).

6. With respect to Local Stock trading, if the SEHK rejects an Order for whatever reason, the Order will be cancelled automatically at day end and will not be sent to the SEHK on the next trading day.

7. With respect to Foreign Stock trading, if the relevant exchange or a counter-party broker rejects an Order for whatever reason (e.g. order price is too far from market price, trading halt or trading suspended), the Order will not be resubmitted to the relevant exchange or counter-party broker on the day it was rejected. Unless instructed otherwise, we will send the Order again on the next trading day. The expiration date of the latter Order shall be the same as the original rejected Order.

8. For Foreign Stock trading, the placing of an GTC or GTD order can only be done by calling the Foreign Stock Dealing team directly at +852 2277 6678.

If have any enquiries regarding the above or foreign stock trading, please call the Foreign Stock Dealing Team (contact no. above) or the Customer Service Department at +852 2277 6555.