Advanced Order: What Is It About?
Starting from 5 Feb 2018, advanced order types and validities offered by Singapore Exchange (SGX) will be made available on KE Trade Online and Mobile platforms for Cash Account holders.
SGX Reach ST Order Types
- Market Orders
- Market-to-limit Orders
- Session State Orders
- Price Triggered Orders (Stop Orders and If-Touched Orders)
Order Validities
- Fill or Kill
- Fill and Kill
- Good-Till-Date
- Good-Till-Maximum
For more details about the advanced order types and validities, please click here.
Illustrations of Advanced Order
Here are some illustrations on how investors might use Advanced Order types*
Scenario 1:
The investor want to buy at a specific price level without monitoring the market movement for 5 trading days.
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Which advanced order type can the investor use?
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How can the investor submit this advanced order?
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This can be achieved by using the Good-Till-Date (GTD) validity type.
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Assuming today’s date is 1 Feb 2018,
Step 1: Under Validity, select GTD
Step 2: Input the validity date as 8 Feb 2018
The GTD validity keeps the order in the order book until the specified expiry date or when the order is filled, whichever is earlier.
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Scenario 2:
The investor wants to limit his losses to $300 in a falling market.
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Which advanced order type can the investor use?
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How can the investor submit this advanced order?
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This can be achieved by using Stop-Limit-Sell Order type.
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Assuming the market price is currently $10.00 and the investor has a long position of 500 shares which he bought at $10.20.
To limit his losses to $300, the investor has to enter a sell limit price of $9.60.
Step 1: Under Contingent Order, select Stop Order
Step 2: Enter Sell Limit Price at $9.60
Step 3: Enter Stop Price at $9.70, based on Last Done Price
Once the Stop Price of $9.70 is reached, the sell order will be submitted to the market at a limit price of $9.60. The sell order will be executed if the last done price is $9.60 or better.
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Scenario 3:
The investor does not want to participate in the Pre-Open session but wants to participate in the Open session.
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Which advanced order type can the investor use?
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How can the investor submit this advanced order?
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This can be achieved by using Session State Order order type.
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Step 1: Under Contingent Order, select Session
Step 2: Select Open
The order will now be triggered during the Open Session.
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*Investors who intend to use SGX Advanced Orders should be aware of its nature and associated risks which can be found here.
Q1. Are Prefunded and Margin accounts eligible for Advanced Orders?
For KE Trade Margin and Prefunded Account clients, only Limits Orders with Day order validity is available.
Q2. What are the types of Advanced Orders and validities available, and during which sessions can they be submitted?
Please refer to the table below for the types of Advanced Orders and validities available during the different sessions of the trading day:
| Order Types/ Validities |
Pre-Open |
Open |
Pre-Close |
| Limit Orders |
| Fill-and-Kill (FAK) |
✓ |
✓ |
✓ |
| Fill-or-Kill (FOK) |
✗ |
✓ |
✗ |
| Day |
✓ |
✓ |
✓ |
| Long Dated (GTD, GTM) |
✓ |
✓ |
✓ |
| Market Orders |
| Fill-and-Kill (FAK) |
✓ |
✓ |
✓ |
| Fill-or-Kill (FOK) |
✗ |
✓ |
✗ |
| Market-to-Limit Orders |
| Fill-and-Kill (FAK) |
✓ |
✓ |
✓ |
| Fill-or-Kill (FOK) |
✗ |
✓ |
✗ |
| Day |
✓ |
✓ |
✓ |
| Long Dated (GTD, GTM) |
✓ |
✓ |
✓ |
| Trigger Criteria |
| Stop Orders |
✗ |
✓ |
✗ |
| If-Touched Orders |
✗ |
✓ |
✗ |
| Session State Orders (SSOs) |
✗ |
✓ |
✓ |
Q3. What will happen to my Advanced Order’s queue position if I make an amendment?
Clients are allowed to amend (increase/decrease) their order price and/or quantity. Please note that the revised order price will be checked against the forced order range and if no forced key was used in the original order, any orders with a revised price more than 30 bids from the current last done price will be rejected by SGX.
Q4. Are Advanced Orders available on KE Trade Mobile?
From 5 Feb 2018, all advanced order types and validities offered by Singapore exchange (SGX) are given default to KE Trade Cash Account clients on both KE Trade Online and Mobile.
For KE Trade Margin and Prefunded Account clients, only Limits Orders with Day order validity is available.
Q5. Where do I find Advanced Order on KE Trade?
To access advanced order, simply follow the two steps below.
Step 1: Click on the Advanced Order tab in KE Trade
Step 2: Read and acknowledge the Risk Acknowledgement Statement which will appear automatically
