At-auction limit order

1. Early Market At-auction Limit Order

1.1 Available Time

Investors can place orders from 16:10 on the trading day to 9:22 on the next trading day. At-auction Limit Orders placed before 9:00 on the trading day will be saved by Futu's trading system. Submit to the exchange.

1.2 Matching Time

9:20-9:28 finish random matching

1.3 Description and Precautions

(1) Cannot be changed or canceled after 9:15

(2) Auction limit orders are matched in the order in which they are placed

(3) An at-auction limit order is a limit order with a specified price. After order matching in the POS, unfilled at-auction limit orders with input price not deviating 9 times or more from the nominal price will be converted to limit orders and carried forward to the Morning Trading Session.

(4) A two-stage price limit mechanism is applied to control the price of at-auction limit orders (i.e. at-auction orders and manual transactions are not subject to these price limits) which are input during the POS. In the absence of a previous closing price (e.g. for IPO stocks) or for stocks resuming from trading suspension, the price limit checking will be not be applied for the Order Input Period.

(5) POS covers only equities (including depository receipts, investment companies, preference shares and stapled securities), funds (including Exchange Traded Funds (ETFs) and REITs) and leveraged and inverse products (L&I Products) (together the 「POS Securities」).  Debt securities, structured products (including Derivative Warrants (DWs), Callable Bull/Bear Contracts (CBBCs) and Inline Warrants (IWs)), equity warrants and rights are not covered by the POS.  Order input on these non-POS Securities during the POS will be rejected.


2. Closing At-auction Limit Order 

2.1 Available Time 

9:30-16:10 (of which 16:08-16:10 is a random closing period, if the market has been closed, you cannot place an order) 

2.2 Matching Time 

16:08-16:10 2.3 Instructions and precautions 

(1) All auction limit orders cannot be changed or canceled after 16:06 

(2) The price limit for the Order Input Period(16:01 - 16.06) is set at ±5 per cent from the Reference Price

(3) The price limit for the No Cancellation Period and Random Closing Period between 16:06-16:10 is set at ±5 per cent from the Reference Price 

(4)  Auction limit orders are matched in the order in which they are placed 

(5)  Unfilled limit orders in the continuous trading session in the afternoon will be automatically transferred to the closing auction

(6) Any not unfilled auction limit orders will be automatically canceled after the random closing

For more details about the closing auction, please refer to the information of the Hong Kong Stock Exchange.


Disclaimer

The At-auction Limit Order is a convenient transaction method provided by Futu for customers. Futu provides stable services as much as possible, but it cannot guarantee its absolute reliability. If there are other physical factors such as network interruption and server abnormality that result in the At-auction limit order not being executed, Futu will not be liable for any loss or damage caused thereby.