17.1 Order Placement Issues
17.1A Q: How does WTT handle odd-lot trading?
A: Odd-lot orders can be placed on the "Trading Page" (see Figure 17.1A-1) and executed via "Odd-lot Matching" (see Figures 17.1A-2 and 17.1A-3).
Odd-lot trading volumes are lower than those for round-lot shares; orders may need to remain on the book for several days before execution.
Figure 17.1A-1
Figure 17.1A-2
Figure 17.1A-3
17.1B Q: What does the order rejection reason "Order Price Far Away From Reference Price" mean?
A: Orders are rejected when the order price is too far from the current market price. Buy-side input prices cannot be higher than the best ask by more than 9 price levels; sell-side input prices cannot be lower than the best bid by more than 9 price levels.
U.S. warrants are currently not supported for trading; the system will display "This stock is currently not tradable."
17.1C Q: What are the front-end order price limits?
A: Buy orders priced lower than the current price by 24 price levels will be stored in the system and released when the market reaches the price.
Orders priced more than 9 price levels above the counterparty price will not be stored in the system and will be sent directly to the exchange; however, they may be rejected by the exchange's price limits.
17.1D Q: How can client trading of virtual assets or specific securities be restricted?
A: On the front end, navigate to "Trade Query > Securities Restriction" and click "Add" in the top right to add securities to a blacklist to prohibit client trading. Securities can be imported in bulk to apply restrictions. If a blacklist entry does not have associated clients, the restriction defaults to all clients.
If certain clients should be permitted to trade, create a whitelist and add the related clients.For the bulk import template, enter stock codes in the format: 3099.hk
17.1E Q: In WTT's "Securities Restriction," how is "Associated Region" used to distinguish clients?
A: The associated region is determined by the client's declared country of residence; if absent, by the document issuing country; if that is also absent, by nationality.
17.1F Q: How can I determine the fees to be charged to a client after placing an order?
A: Actual fees can be checked after settlement by reviewing report SDR018 - Bargain Detail Report-HK. Estimated fees are available via the "Amount Details" function at the lower right of the front-end order component.
17.1G Q: How are clients notified after forced liquidation?
A: The App will send a push notification (see Figure 17.1G-1), and forced liquidation will be indicated on the settlement statement (see Figure 17.1G-2). Margin calls are notified by email and App push notifications (see Figure 17.1G-3).
(Figure 17.1G-1)
(Figure 17.1G-2)
(Figure 17.1G-3)
17.1H Q: At what distance from the market price will "Pending Submission" orders be released to the market?
A: Pending Submission orders for the Hong Kong Exchange will be released to the market when within 20 price levels of the market price.
17.1I Q: Can the system restrict self-matching trades (a client's own buy order matching their own sell order)?
A: Self-matching is restricted. For opposing orders from the same client, if the second order would result in a match at an executable price, the second order will be rejected.