Introduction to client standing authorization

1. What is Client Standing Authorization?

Standing authorization is required by all securities in Hong Kong to ensure the proper settlement of client funds and securities. Common examples of using authorization are as follows:
(1)When you buy stocks, authorize us to deliver the money from your account to the seller at the time of settlement;
(2)When you sell stocks, authorize us to deliver the stocks from your account to the buyer at the time of settlement;
(3)When you buy or sell US stocks, authorize us to transfer money to a US account for trading purposes, or transfer money from a US account to your account after settlement;
(4)If you are a margin client, when you need the margin service, authorize us to pledge shares to the banks of Hong Kong to obtain the amount of margin if necessary (not applicable to cash customers); If you sign an authority and your securities or securities collateral have been lent or deposited with a third party, the third party have a lien or charge on your securities or securities collateral. Although FUTU HK is liable to you for securities or securities collateral lent or deposited with you under your authority, any breach of its obligations may result in a loss to you of your securities or securities collateral. FUTU HK provides cash accounts that do not involve securities lending. If you do not require margin loans or do not wish your securities or securities collateral to be lent or secured, do not sign the above authorization, and please open a cash account as required.

2. Who is required to agree on the standing authorization?

All clients who open an account with FUTU HK need to confirm and agree on the relevant content of the standing authorization.

3. I have opened an account, have I confirmed to grant the standing authorization to FUTU HK when I open an account?

If you have opened an account, you have confirmed the standing authorization to FUTU HK when you confirm the account opening agreement. Please refer to Paragraph 4.4 of the Client Agreement for details. Since the standing authorization has an expiry date, an account holder may be required to renew the standing authorization.

4. What is the implication for me to grant the standing authorization?

No impact on the normal use of your current account, funds, transactions, and other services.

5. Can I disagree with standing authorization?

Yes, but standing authorization is required by FUTU HK in accordance with regulations to ensure the normal settlement of clients' funds and securities. If you choose not to confirm the standing authorization, we will no longer be able to provide services to you.

6. What is the duration of the standing authorization?

The duration of confirmation is one year. We will notify you of the renewal by email before the expiration of the one-year validity period. The latest version of standing authority can be viewed at Standing Authority (Client Money and Securities).