- Important Notes for Transactions
- About FSM Global
- Account
- Fees, Charges & Calculations
- Funds (Unit Trusts)
- Bonds
- Stocks & ETFs
- Managed Portfolios
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Prices, Order Types & Validity
| Real-Time | Delayed | Previous Day Close | |
| Trading | Yes | ||
| Technical Charts | No | Yes* | |
| Watchlist | Yes* | Yes* | |
| Factsheets | Yes* | Yes* | |
| Holdings | Yes | ||
| Chart Centre | Yes |
Depends on your L1/L2 subscription.
Only delayed streaming is available for China A-Shares and London Stocks Exchange.
Live streaming available for SGX, HKEX*, Bursa* and US Exchanges*.
*Please refer to the relevant promotions.
|
Order Types/ Validity |
SGX |
HKEX |
China A-Shares |
US Exchanges |
Bursa Malaysia | LSE |
|
Day |
Yes |
Yes |
Yes |
Yes |
Yes | Yes |
|
Good-Till-Date (GTD) |
Yes |
Yes |
- |
Yes |
Yes | - |
|
Limit Order |
Yes |
Yes |
Yes |
Yes |
Yes | Yes |
|
Market Order (Buy)
|
Yes 9am - 12pm, |
Yes 9.30am - 12pm, |
No |
Yes *9.30pm - 4am (SGT) 10.30pm - 5am (SGT) |
No | No |
|
Market Order (Sell) |
Yes 8pm - 5.04pm |
Yes 9.30am - 12pm, |
No |
Yes 4pm - 4am (SGT) 4pm - 5am (SGT) |
No | No |
*Daylight Saving Time
Order Validity:
- For Day orders: All unfilled orders will expire at the end of the trading day. If you wish to keep the order for the next trading day, you will have to re-enter the order for the next trading day.
- For Good-Till-Date (GTD) orders: Any unfilled order will expire on the specified date, at the end of the trading day. Open orders can be cancelled / expired earlier than your specified date in the event of corporate action or other exchange related action set by the exchange.
- For HKEX, GTD (Good-Till-Date) orders will be routed to the exchange once the specified price spread conditions set by HKEX are met.
Please note for HKEX:
- Limit orders placed during non-trading hours will be routed to the exchange as At-Auction Limit Order ALO (0900-0922).
- Limit orders placed during trading hours will be routed to the exchange as ELO during morning session (0930-1200) and afternoon session (1300 -1600).
A limit order will not be filled if there are no matching buy or sell orders at the specified limit price or better.
However, any similarly named variant of a limit order may behave differently from a basic limit order (as described above), depending on the rules, regulations and operational procedures of the relevant stock exchange or market in which it is placed.
HKEX Limit Order is routed to exchange as Enhanced Limit Order (ELO) for orders placed during trading hours.
Generally, a market order is an order which is entered into the order book with a specified quantity but without a price. It will be traded at the current price available in the market at the time of execution.
However, there may be certain differences in the behaviour of a market order (or any similarly named variant of a market order) executed on different stock exchanges or markets, depending on the rules, regulations and operational procedures of the relevant market in which it is placed.
Market order is only available for SGX, HKEX and US Exchanges on FSMOne. The default validity of Market Order for SGX and HKEX is Fill-and-Kill (FAK).
A Fill-and-Kill (FAK) Market Order's quantity will be filled with as much quantity as possible and any unmatched quantity is cancelled.
Example
An FAK Market buy order for 200 shares was placed and the market has a total offer quantity of 100 shares. 100 shares will be matched and the remaining order will be cancelled.
SGX Market Order (FAK)
Market Order (FAK) executed on SGX will be in accordance with SGX market order behaviour. For more details, please refer to https://www.sgx.com/trading-0
HKEX Market Order (FAK)
HKEX Market Order (FAK) will be submitted to HKEX as a Special Limit Order (SLO) with limit price placed using the higher of:
(1) 2% buffer from the best bid/ask price or
(2) 5 ticks away from the best bid/ask price
Any outstanding unfilled quantity will be cancelled immediately.
A Special Limit Order (SLO) will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at the time provided that the traded price is not worse than the input price. A special limit order has no restriction on the input price as long the order input price is better than the best bid/ask.
For more details on SLO, please refer to https://www.hkex.com.hk/Services/Trading/Securities/Overview/Trading-Mechanism?sc_lang=en
*Note: HKEX Market Order (FAK) can only be used during morning session (0930-1200) and afternoon session (1300 -1600).
Risks associated with using Market Orders:
- There is no guarantee that an order will be filled at a target price. A buy order could be filled at a much higher price than intended, or a sell order can be filled at a much lower price than intended.
- The order may be split across multiple investors on the other side of the transaction, resulting in order being done at different prices.
- Using Market Orders during a volatile market and/or for illiquid securities is not recommended as price can be out of control.
New IPO
Market order is not allowed for the matching process of the Opening price on the 1st trading day of a newly listed IPO.
An At-Auction Limit Order (ALO) means an order type with a specified price placed during Pre-Opening Session (POS) (0900 to 0920) or Closing Auction Session (CAS)(1600 - 1608).
For more details on ELO and ALO, please refer to https://www.hkex.com.hk/services/trading/securities/overview/trading-mechanism?sc_lang=en
A GTD order allows you to place an order that will remain in queue until a specified date (up to a maximum of 30 calendar days), or until order is:
- Entirely filled,
- Cancelled by you,
- Cancelled due to limit price hitting aggressive price range for HKEX ( +/- 9 ticks of nominal price) due to market fluctuation,
- Security is delisted, suspended or has corporate actions
Whichever occurs first will determine the end of the order’s validity.
What should I take note:
1. GTD order might become unfavourable if market conditions change.
2. You may forget your order.
3. Processing and exchange cost may be higher if the GTD order is partially filled over multiple trading days.
A Day order may be partially filled and the remaining outstanding order will expire after the market closes. The partially filled order will be subjected to processing and exchange-related fees.
A GTD order may be partially filled multiple times over different trading days.
Partially filled GTD orders which are partially filled on different trading days will not be amalgamated, relevant commissions/fees are charged on each day an execution occurs. For instance, if the entire GTD order takes 2 days to fulfill, it will be subjected to 2 times of relevant commissions/fees.
For GTD Buy orders, please ensure that there is sufficient monies in your cash account or Auto-Sweep Account as your order might be affected if you do not have sufficient monies for the additional processing/exchange related fees resulting from your GTD order being filled multiple times over the GTD period.
Please take note of the following:
- There is no trade amalgamation on all orders for US and London exchanges.
Trade amalgamation allows you to combine your orders to help you save on the trade commissions. Trade amalgamation can help to reduce the average traded price and is applicable for buy or sell trades.
Yes, trade amalgamation is automatically performed on FSMOne if the following conditions are fulfilled:
- Trades must be of the same stock or the same ETF, with the same settlement currency.
- Trades must be on the same side (e.g. Buy trades can only be amalgamated with another Buy trade)
- Trades must be transacted using the same payment/settlement method (e.g. trades transacted using Cash Account and Auto-Sweep Account will not be amalgamated, trades transacted using Margin and any one of the Cash Solutions will not be amalgamated).
- Trades must be done on the same trading day.
- Trades must be from the same mode of trade / Investment Account, i.e. same Ref Number (e.g. Sell trades from your custodian account cannot be amalgamated with your Sell trades made from your CDP Linked account)
However, please note that trade amalgamation is only done at the end of the day so for each trade confirmation received during the day, the total consideration will not reflect the discounted commission. The excess commission that was earmarked during the trading day will be released from the earmarked amount to your cash account at the end of the day.
Note: Trade amalgamations are available for all markets except for US and London exchanges.
You can trade in Stocks and ETFs listed in dual currency on our platform. However, you can only sell the product in the currency you originally bought in.
Example: Dual Currency Stocks A (Primary currency SGD, Secondary currency USD). If you bought Stocks A in USD, you can only sell it in USD.