Cross-Market IPO Shares Subscription
Subscribe HK IPO shares
using US stock assets as collaterals
Register
What's cross-market IPO subscription
Customers holding qualified US stock assets are not required to exchange currency in advance,
or sell stocks as deposits for IPO financing.

US and northbound
assets as collaterals

Advantages of cross-market IPO subscription
  • No fx exchange required

    Save time, save money

  • No deposit required

    Supports HK IPO shares subscription without any HK assets

  • No position decrease required

    Hold position of high quality stocks

How can I enjoy the benefits of cross-market IPO subscription?

Situation 1

  • I have securities of US market only, and I am going to subscribe for new shares of Meituan. Am I required to exchange currency or make deposit?
  • You need cross-market IPO subscription of Futu. Customers holding US stock assets are not required to exchange currency in advance, or sell stocks as deposits for IPO financing.

Situation 2

  • When I have US stock portfolio. After I have subscribed for Hong Kong IPO, Meituan, I may not have enough money to subscribe for another IPO, e.g. Haidilao. What should I do?
  • You need cross-market IPO subscription of Futu. Customers holding US stock assets are not required to exchange currency in advance, or sell stocks as deposits for IPO financing.
How to use cross-market IPO subscription service?
STEP 1

Upgrade your cash account to margin account,including HK account and US account

  • HK cash account HK margin account
    Upgrade
  • US cash account US margin account
    Upgrade
STEP 2

Enter "IPOs" and select the stock to subscribe for

STEP 3

Select "IPO Financing", enter the number of shares and submit the subscription

About fee
Charge item Charge standard Charger
Handling fee HK$50 per application
( Will return after charge, i.e. charge-free )
Futu Securities
Financing interest rate 6.8% p.a. Futu Securities
Transaction levy / transaction fee / brokerage commission 1.0077%
(charged after winning the lottery)
SFC
HKEX
Agency
Note:

1. The financing interest rate of the mortgaged US stock and northbound assets is the same as the Futu financing interest rate. Interest is accrued daily based on the loan balance and is collected at the end of each month. Handling fee of subscription will be separately charged. Please refer to the monthly statement for details.
2. If you need to use bank financing subscription, please refer to bank financing subscription fee standard.
3. From now till December 31, 2018, participants of cross-market IPO subscription can enjoy handing fee waiver.

How to subscribe HK IPO shares with Futubull
More
  • QI have a margin account of US market,how to calculate my purchase power ?
    AThe amount of purchasing power generated by the US stock account depends on the amount of your cash and both of your long and short position. Supposing that you hold $100,000 in cash and a stock market value of $100,000, the margin ratio of a stock is 50% and that the exchange rate of HKD to USD is 10:1, your purchasing power would be 1 million + 500,000 = 1.5 million Hong Kong dollars.
  • QWhat is the maximum amount of margin trading that can be generated by cross-market purchasing power?
    ACross-market purchasing power has financing limit. You can use bank financing to increase this limit. In this situation, your leverage is enlarged. The greater the leverage you use, the higher the risk that you take on. So you need to thoroughly consider the level of risk you can take before using leverage.
  • QHow to calculate the interest rate of cross-market IPO subscription?
    AMarginable US stocks and northbound assets can generate purchasing power, and interest incurred is calculated according to Futu financing rate (annualized interest rate of 6.8%). Interest generated by using bank financing will be charged according to the bank's interest rate standard. Interest is accrued daily based on the loan balance and is collected at the end of each month.
Disclaimer

1. Participating in cross-market IPO subscription service, you agree to Futu's terms and agreement regarding cross-market IPO subscriptions.
2. With the cross-market IPO subscription service, marginable US stock portfolio will become collaterals; its cash portion will not be convertible. You can repay loan by deposit or closing positions.
3. Margin financing and IPO subscription involve risks and please read the Risk Disclosure Statement before investing.
4. The information on this page does not constitute any offer or solicitation to offer or recommendation of any investment product. You should consult your own advisers for independent advice before making an investment decision.
5. This page is organized by Futu and is unrelated with Meituan/Haidilao.

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