General
Q1. What types of Advanced Order are available on Maybank Trade Online?
From 5 Feb 2018, all advanced order types and validities offered by Singapore exchange (SGX) are given default to Maybank Trade Cash Account clients on both Maybank Trade Online and Mobile.
For Maybank Trade Margin and Prefunded Account clients, only Limits Orders with Day order validity is available.
Q2. Will all Maybank Trade clients have access to Advanced Order?
Currently, only Maybank Trade Cash Account clients are allowed to place Advanced Order on SGX.
Q3. On which markets may I place Advanced Order?
Advanced Order may only be placed on SGX.
Q4. Where do I navigate to on Maybank Trade to place Advanced Order?
Navigate to the Advanced Buy/Sell page by clicking on the “Advanced” button located at the top left corner of the Buy/Sell page.
Q5. 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.
The table below shows the effects of amendments on order priority:
| Order Amendment Action | Order Priority |
| Decrease in Order Quantity | Priority of the order will be maintained |
| Increase in Order Quantity | Priority of the order will be lost |
| Increase/Decrease in Order Price | Priority of the order will be lost |
Q6. What are the types of Advanced Order and validities available, and during which sessions can they be submitted?
Please refer to the table below for the types of Advanced Order 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) | ✗ | ✓ | ✓ |
Q7. Where do I find Advanced Order on Maybank Trade?
From 5 Feb 2018, you can find the Advanced Order tab on Maybank Trade.
Click on "Advanced" tab in QuickTrade
Limit Orders
Q1. What is a Limit Order?
A Limit Order is an order that requires you to specify a price and quantity that you want to trade at.
Q2. How does a Limit Order work?
A Limit Order is dependent on the order validities selected.
- A Fill-and-Kill (FAK) Limit Order is an order that gets matched as soon as the order is entered into the order book. The rest of the order which is unfilled will expire immediately. The order does not sit in the order book.
Example
An FAK Limit Order is placed at a bid price of $3 with a quantity of 20 lots. The market has a sell side of 10 lots. 10 lots will be matched and the remaining 10 lots will be rejected and expire.
- A Fill-or-Kill (FOK) Limit Order is an order that either gets filled entirely or expires entirely.
Example
An FOK order is placed at a bid price of $3 with a quantity of 20 lots. The market has a sell side of 10 lots. The entire order of 20 lots will be rejected and expire.
- A Day Limit Order sits in the order book and will expire at the end of the trading day should it not be filled.
- There are two types of Long-Dated Orders:
- Good-till-Date (GTD): A pre-determined date is set upon which the order will expire. This date must be within 30 calendar days from the date that the order is placed.
Example
If a GTD order is placed on 5 Jan 2015 and the investor wants to keep the order in the order book for 3 days, the order can rest in the order book till the end of the trading day on 7 Jan 2015 or be filled before that.
- Good-till-Date (GTD): A pre-determined date is set upon which the order will expire. This date must be within 30 calendar days from the date that the order is placed.
- Good-till-Maximum (GTM): The order will sit in the order book for a maximum of 30 calendar days.
Example
If a GTM order is placed on 5 Jan 2015, the order would rest in the order book till the end of the trading day on 3 Feb 2015 or be filled before that.
Market Orders
Q1. What is Market Order?
A Market Order is an order that is entered into the order book with a specified quantity but without a price, unlike a Limit Order. It is purely volume-based and is traded at the best price currently available in the market at the moment when the order is placed.
Q2. How does a Market Order work?
A Market Order has only 2 types of order validities.
- A Fill-and-Kill (FAK) Market Order's quantity is filled to the greatest extent possible and then immediately expires. No FAK order sits in the order book.
Example
An FAK Market buy order for 20 lots was placed and the market has an offer quantity of 10 lots. 10 lots will be matched and the remaining order will be rejected and expire.
- A Fill-or-Kill (FOK) Market Order is either filled or expired entirely. The order will not sit in the order book.
Example
An FOK Market buy order for 20 lots was placed and market has an offer quantity of 10 lots. The entire order of 20 lots will be rejected and expire as the total order placed was not able to be filled entirely.
Market-to-Limit Orders
Q1. What is a Market-to-Limit Order?
A Market-to-Limit Order is an order which is entered into the order book with a quantity but without a price, just like a Market Order. However, it will be matched at the current best bid or ask price. If the order is partially filled after being matched at the current best price, the remainder is submitted as a Limit Order at the same price that the earlier match occurred.
Q2. How does a Market-to-Limit Order work?
- A Fill-and-Kill (FAK) Market-to-Limit Order will be filled to the greatest extent possible at the best available price and the remainder will be rejected and expire.
Example
A Fill-and-Kill (FAK) Market-to-Limit buy order for 10 lots will be matched at the best available price. Supposing there are 5 lots offered at $3, 5 lots will be matched and the remaining 5 lots will be rejected and expire.
- A Fill-or-Kill (FOK) Market-to-Limit buy order will only be matched entirely at the best available ask price or it will be rejected and expire entirely.
Example
A Fill-or-Kill Market-to-Limit buy order for 10 lots of shares will only be matched if there are at least 10 lots of shares on the offer side of the order book at the best available price. If there are fewer than 10 lots available at the best available price, the Fill-or-Kill buy order will be rejected and expire with no part of it being matched.
- A Day Market-to-Limit Order will be matched at the best available price and the rest will be converted to a Limit Order.
Example
A Day Market-to-Limit sell order for 10 lots will be matched at the best available price. Suppose there are 5 lots offered at $3, the order will be partially filled and the remaining 5 lots will be converted to a Limit Order and sit in the order book. The Limit Order price for the remaining 5 lots would be $3, the last-filled price.
- There are two types of Long-Dated Orders:
- Good-till-Date (GTD) Orders will expire on a specified date that is within 30 calendar days from the day the order is placed.
- Good-till-Maximum (GTM) Orders will sit in the order book for a maximum of 30 calendar days.
Price Triggered Orders
Q1. What are Price Triggered Orders (PTOs)?
Price Triggered Orders (PTOs) will only get triggered and converted into an actual order in the order book once the target price as specified by the investor has been met. Orders not activated by the end of the trading day will automatically expire.
The current PTOs available on Maybank Trade Online are If-Touched and Stop Orders. They can only be placed during the Open market session.
Q2. How does an If-Touched Order work?
An If-Touched Order benefits investors by providing them the flexibility to buy and sell at a specific price without investors having to constantly monitor market movements. It is particularly used in fast-moving markets, when investors may not be able to access the market in time to take advantage of buying or selling opportunities.
Example
The price of a share is currently $11.40 and an investor is planning to place an order to buy the share at $11.00, only if the price falls below $11.20.
The investor can place an If-Touched Limit Order price at $11.00 and trigger price of $11.20. Once the trigger price is hit, the buy order is submitted to the market at $11.00 .
Q3. How does a Stop Order work?
Stop Orders are used when an investor wants to execute an order at a specific price, but the market is not currently trading at that price. They are useful for breakout trades where an investor wants his order executed only if the market trades past a particular price.
Stop orders can be used to:
- Minimise a loss or protect a profit on an existing long or short position.
Stop orders are generally used as a protection against runaway prices. For instance, in a falling market, an investor who is long on a particular counter may want to enter a Stop Sell Order which will likely limit the losses faced. Similarly, in a rising market, an investor who is short on a particular counter may enter a Stop Buy Order to limit the losses faced in covering the short position.
- Initiate a new long or short position.
Stop Orders benefit investors by allowing them to trade without the need to constantly monitor market movements. It is particularly of use in fast-moving markets, where investors may not have the time to react quickly to limit losses arising from the trading positions.
Example
An investor has a long position of 500 shares which he bought at $10.20. He wants to limit his loss to $300. The market price is currently $10.00.
The investor would place a Stop Order with a limit price of $9.60 and stop price at $9.70. Once the stop price is hit, the sell order is submitted to the market at $9.60 .
Q4. How do If-Touched and Stop Orders differ from each other?
An If-Touched Order is placed to ensure that the order will be executed at the desired price for maximum profit gain whereas a Stop Order is typically used as a loss-limiting mechanism in respect of open positions. For sell orders, the stop price for a Stop Order is hence placed below the current market price, whereas the trigger price for a sell If-Touched Order is placed above the current market price. The opposite is true for buy orders where the stop price for a Stop Order will be above the market price and the trigger price for the If-Touched Order will be below the market price.
Q5. What are the risks associated with If-Touched Orders?
- The trigger price may be activated by a short-term fluctuation in a stock's price.
- For Stop If-Touched orders, once the trigger price is reached, the order becomes a Market Order and the transacted price may be quite different from the intended price, especially in a fast-moving or in a cascading price scenario where stock prices can change rapidly.
- It is possible to avoid the risk of an If-Touched Market Order not guaranteeing a specific price by placing an If-Touched Limit Order. However, with Limit Orders the rest of the unfilled order may not be executed if the price moves beyond the limit price.
Q6. What are the risks associated with Stop Orders?
- The stop price may be activated by a short-term fluctuation in a stock's price.
- For Stop Market orders, once the stop price is reached, the Stop Order becomes a Market Order and the transacted price may be quite different from the stop price, especially in a fast moving market or in a cascading price scenario where stock prices can change rapidly.
- It is possible to avoid the risk of a Stop Market Order not guaranteeing a specific price by placing a Stop Limit Order.
Session State Orders (SSOs)
Q1. What is a Session State Order?
A Session State Order (SSO) is an instruction to place an order into an order book at a specific session state of a trading day. A Session State Order is not visible to the rest of the market before it is triggered. Session State Orders that are not triggered by the end of the trading day will expire automatically.
Q2. When can SSOs be entered into the order book?
SSOs can be placed during the Pre-Open session and will be triggered during the Open session. SSOs can be placed during the Open session and will be triggered during the Pre-Close session.
Q1. Will I receive e-statements?
You will receive e-Statements if you have a Maybank Trade account and an e-mail address in our records.
Illustration 1:
If you have a Maybank Trade account with an e-mail address provided, and an offline account with no e-mail address provided, you will automatically receive e-Statements for both accounts.
Illustration 2:
If you have a Maybank Trade account with no e-mail address provided, and an offline account with an e-mail address provided, you will not receive e-Statements automatically. If you wish to receive e-Statements for both these accounts, please refer to Q4 to find out how to add an e-mail address to your Maybank Trade account.
Illustration 3:
If you have 2 Maybank Trade accounts, one with an e-mail address provided, and the other without an e-mail address provided, you will automatically receive e-Statements for both these accounts.
Illustration 4:
If you have a Maybank Trade account with an e-mail address provided, but have chosen to trade solely offline through your Trading Representative, you will automatically receive e-Statements for both your online and offline trades for this Maybank Trade account.
Illustration 5:
If you have an offline account with an e-mail address provided, you will not receive e-Statements.
Q2. What e-Statements will I be able to access?
Daily statements/contract notes, monthly statements and quarterly statements will be available for viewing. This pertains to both local and foreign trades made using Maybank Trade Cash or Margin accounts.
e-Statements for Maybank Trade Prefunded accounts will be made available in the first quarter of 2018, for which clients will be notified in due course.
Q3. How do I check to see if I have an e-mail address in your records?
Please follow these steps:
Step 1: Log in to www.ketrade.com.sg on your desktop or laptop
Step 2: Click “e-Services”
Step 3: Click "e-Statements"
Step 4: If your e-mail address is not in our records, you will see the "Opt In" screen. To opt in and add your e-mail address, please refer to Q5.
If your e-mail address is in our records, you will see the "Manage Settings" screen with your e-mail address displayed. If you wish to update your e-mail address, please refer to Q5.
Q4. If I do not have an e-mail address in your records, how do I add my e-mail address?|
Please follow these steps:
Step 1: Log in to www.ketrade.com.sg on your desktop or laptop
Step 2: Click “e-Services”
Step 3: Click “e-Statements” > "Opt In"
Step 4: Add your e-mail address and click "Submit".
Please ensure that the e-mail address added is valid and that your mailbox is not full, as you will receive email notifications when your e-Statements are available for viewing.
Q5. I already have an e-mail address in your records. How can I update this e-mail address?
Please follow these steps:
Step 1: Log in to www.ketrade.com.sg on your desktop or laptop
Step 2: Click “e-Services”
Step 3: Select “e-Statements”, followed by “Manage Settings”
Step 4: Click “Change e-mail” and update your e-mail address
Please ensure that the e-mail address provided is valid and that your mailbox is not full, as you will receive email notifications when your e-Statements are available for viewing.
Q6. How will I be notified when e-Statements are available and how do I view my e-Statements?
We will notify you via e-mail. These notifications will be consolidated and you will receive up to two a day. You can then log in to Maybank Trade Online to view your e-statements by following the steps below.
Step 1: Log in to www.ketrade.com.sg on your desktop or laptop
Step 2: Click “e-Services”
Step 3: Select “e-Statements”, followed by “View”
Please ensure that the e-mail address provided is valid and that your mailbox is not full, as you will receive email notifications when your e-Statements are available for viewing. You may check your e-mail address by following the steps in Q3.
Q7. Can I access e-Statements on the Maybank Trade Mobile app?
No, you will only be able to access e-Statements on Maybank Trade online.
Q8. Will I receive e-Statements even if I did not make any trades for the month?
You will receive the e-Statements as long as there is a balance in your account.
Q9. When will I be able to access my monthly e-Statements?
You can access your monthly e-Statements within the first 7 calendar days of the following month.
Q10. When will I be able to access my contract notes e-Statement?
You can access your contract notes e-Statement the next trading day.
Q11. Are e-Statements secure?
Yes, access to the e-Statements page via the Maybank Trade platform requires a unique User ID and a Password. Your User ID and password will be issued to you separately via postal mail/ email upon successfully opening a Maybank Trade account. To protect your data from being tampered with, all information is secured and encrypted using Verisign 128-bits Secure Socket Layer (SSL) encryption. This decreases the risk of sensitive information from being stolen or tampered with. Our Maybank Trade platform is further protected by Firewalls to prevent unauthorised access into the system.
Q12. I have an offline trading account. Will I receive e-Statements?
No, you will not receive e-Statements. You will continue to receive paper statements by mail.
Q13. How long will my e-Statements be available for viewing?
Daily statements/contract notes will be available for viewing for up to 100 calendar days. Monthly statements and quarterly statements will be available for viewing for up to 12 months.
Q14. Can I opt out of e-Statements?
Yes, you may. However, please note that should you choose to do so, you will no longer be able to access your past e-Statements. To keep records of your e-Statements, save soft copies before opting out.
Step 1: Log in to www.ketrade.com.sg on your desktop or laptop
Step 2: Click “e-Services”
Step 3: Select “e-Statements”, followed by “Manage Settings” and click “Opt out”
Step 5: Agree to the terms and select “Submit”
Q15. If I opt in after previously opting out, will I be able to access my past statements?
All past e-Statements will be available immediately except for SGX contract notes. These past e-Statements include daily statements for foreign market trades from the past 100 calendar days, and monthly statements from up to 12 months, from the date you opt in.
| Viewing Range for Daily Statements | Viewing Range for Monthly Statements | |
| If opted out on 1 February 2018 and choose to opt in again on 1 July 2018 | 23 March 2018 to 1 July 2018 | July 2017 to June 2018 |
Q16. After opting out, when will I start receiving paper statements?
You will receive paper statements the month after you opt out. E.g. If you opt out on 31 January 2017, you will start receiving paper statements in February 2017.
Q1. What are the benefits of trading via Maybank Trade?
- Easy log in to your cash and margin accounts with a single User ID and password.
- Trade in multiple markets around the world with the added advantage of having dynamic real-time quotes (only on selected markets) available on screen.
- View simultaneous investment pages with our proprietary 4Site screen for optimal stock review.
- Do away with keying in orders one at a time. With our proprietary Batch Order function, now you can place up to 5 SGX counters to buy/sell, all at one click of a button.
- Withdraw up to 5 orders simultaneously with our Quick Withdrawal function.
- Trade online with our margin account service where you can trade up to 3.5 times your collateral placed with us (our margin financing terms and conditions will apply). This service and feature gives you greater flexibility to maximise investment opportunities.
- Receive stock alerts via web-alerts, SMS or e-mail to monitor stock movements by using different types of alert triggers - price, percentage change from intra-day price and cumulative volume.
- Choose to settle your trades in local or foreign currency for foreign counters.
- Create and customise up to 10 watchlists to monitor the latest price movements of your favouite Singapore and foreign counters, all in a single watchlist.
- Manage your investment exposure with our Account Management function. You are able to view your daily trust account and custodian balances for cash accounts, as well as your stock holdings, account ledger and margin position summary for margin accounts. As an added service, the daily forex rates are also made available to you.
- Create your personal investment portfolio to view your positions, portfolio valuation and the realised/unrealised profit/loss statement of your investments. You can also choose to export your portfolio to MSExcel.
- Check your Internet trading limits, Trading Representative's name and contact details, account details, and update your personal details.
- Study the trend of buying and selling a particular counter on a real-time basis with Trade Summary.
- Monitor actual transactions for a particular counter with Time and Sales.
- Watch a counter with Intra-Day Charts which displays charts plotted on real-time basis with time and sales data.
- Use the ever popular Market Depth which displays the SGX-ST ready market of up to 20 levels of bid and offer prices (Market Depth is a subscription-based service for SGX-ST counters).
- Personalise the settings of selected pagelets to your liking. You can change the colours of the fonts and columns, organise your chosen information by columns, and change pagelet layouts to your preference.
Q2. What markets are available for trading via Maybank Trade?
- Singapore (SGX)
- Hong Kong (HKEx)
- Malaysia (Bursa Malaysia)
- US (Nasdaq, NYSE and NYSE Arca)
- Stock Exchange of Thailand (SET)
- Shanghai (SH-HK Connect North Bound)
Q3. What is a Maybank Trade Prefunded Account?
It is a collateralised trading account where the trading limit is equivalent to the amount of funds deposited into the account. It lets you enjoy lower online brokerage rates for SGX and other markets.
Q4. Will my Maybank Trade Prefunded trading account be linked to my existing Maybank Trade User ID and Password?
Yes. If you have an existing Maybank Trade User ID and Password, you may log in and trade with your Maybank Trade Prefunded Trading Account using the same User ID and Password.
Q5. Where are the shares kept for Maybank Trade Prefunded Accounts?
The shares are kept in a custody account under Maybank Securities and can only be sold via Maybank Securities. All corporate actions entitlement (dividends, rights etc) will also be managed by Maybank Securities.
Q6. Can I sell my share holdings in my Central Depositary Global Securities Account (CDP GSA) using the Maybank Trade Prefunded Account?
The shares must be transferred from CDP GSA to your Maybank Trade Prefunded Account first before selling. Share transfer fees may be found here.
Q7. Is it possible to open a joint account with a person under 18 years of age?
A joint account can only be opened with a person aged 18 years and older.
Q8. What do I need to know about Specified Investment Products (SIPs)?
In 2012, the Monetary Authority of Singapore (MAS) introduced guidelines for broking firms to provide safeguards to retail investors who wish to trade Specified Investment Products (SIPs). These products have complex features and risks that can be difficult to understand. Under these guidelines, both existing and new clients are required to be formally assessed by their broking firm for relevant knowledge and experience in trading SIPs. A general guide on safeguards when purchasing SIPs is available here.
Listed SIPs include:
- Structured warrants
- Futures
- Exchange traded funds (ETFs)
- Exchange traded notes (ETNs)
Learn more about Listed SIPs through the SGX Online Education Programme here.
Unlisted SIPs are not listed on a securities exchange and include:
- Contracts for difference (CFDs)
- Leveraged foreign exchange trading (LFX)
- Equity link notes (ELN)
- Structured products
Learn more about Unlisted SIPs on the ABS-SAS Online E-Learning Portal here.
Q9. What are the measures regarding SIPs? How will they affect me?
The following two measures will apply to you if you wish to purchase a SIP or open an account for trading SIPs:
- Assessing if you fulfil the MAS requirements for competency in trading SIPs.
Maybank Securities must find out if you have the relevant knowledge or experience to understand the risks and features before offering a SIP to you or opening an account for you to trade SIPs. - To be eligible for trading in Listed and/or Unlisted SIPs, you need at least 6 trades in any Listed SIPs and/or 6 trades in CFDs or and/or 6 trades in LFX in the preceding 3 years with Maybank Securities and/or other brokers, or satisfy one of the following four criteria:
- Have a diploma or higher qualifications in accountancy, actuarial science, business/business administration/business management/business studies, capital markets, commerce, economics, finance, financial engineering, financial planning, computational finance and insurance; or
- Have a professional finance-related qualification; or
- Have a minimum of 3 consecutive years of working experience in the past 10 years in development of, structuring of, management of, sale of, trading of, research on or analysis of investment products, or the provision of training in investment products. Work experience in accountancy, actuarial science, treasury or financial risk management activities will also be considered relevant experience. Such working experience would also include provision of legal advice or possession of legal expertise on these areas.; or
- Demonstrate sufficient understanding of the features and risks of derivatives through the SGX Online Education on SIPs for Listed SIPs and the ABS-SAS E-Learning Portal for Unlisted SIPs.
- Have a diploma or higher qualifications in accountancy, actuarial science, business/business administration/business management/business studies, capital markets, commerce, economics, finance, financial engineering, financial planning, computational finance and insurance; or
Maybank Securities will assess whether you may proceed to purchase an Unlisted SIP or trade Listed SIPs by conducting a Client Proficiency Assessment (CPA) to assess your knowledge and experience before allowing you to trade in SIPs.
If you already have an account for trading SIPs, please refer to Q9.
Q10. What if I already have a trading account with Maybank Securities and want to trade SIPs?
If you have an existing account and wish to continue trading SIPs through the account, Maybank Securities will be required to conduct a Client Proficiency Assessment (CPA) to assess your knowledge and experience before allowing you to trade in SIPs.
If you wish to qualify to purchase Listed or Unlisted SIPs, please download and complete the Client Proficiency Assessment (CPA) Form.
Q11. How will Maybank Securities decide whether I can trade SIPs?
If you wish to qualify to purchase Listed or Unlisted SIPs, please download and complete the Client Proficiency Assessment (CPA) Form.
Please mail the completed form to:
Maybank Securities Pte Ltd
Client Services Department
50 North Canal Road
Singapore 059304
Alternatively, visit any of our Customer Service Centres to complete the Client Proficiency Assessment (CPA) Form.
Maybank Securities will assess if you fulfil the MAS requirements by possessing the relevant educational qualifications, work experience or investment experience in that product or similar products, and will take into account whether you have demonstrated sufficient understanding of the product based on your declaration in the form.
Q12. Are all Overseas Listed Investment Products classified as Excluded Investment Products (EIPs) or Specified Investment Products (SIPs)?
With effect from 4 January 2013, the following Overseas Listed Investment Products are classified as EIPs:
- Shares
- Fully-paid depository receipts representing shares
- Subscription rights pursuant to rights issues
- Company warrants
- Units in business trusts
- Units in real estate investment trusts
- Debentures (other than asset-backed securities and structured notes)
Any other Overseas Listed Investment Products not included in this list remain as SIPs.
Q13. What is the Risk Warning Statement for Overseas Listed Investment Products (“RWS”) about?
The RWS highlights the key risks that customers should be aware of before trading in overseas listed investment products. These include differences in legal systems, regulatory regime, political, social and economic developments as well as differences in costs, counterparty and correspondent broker risks between the foreign jurisdictions and Singapore.
Please refer to the RWS for details.
Q14. Why do I need to acknowledge receipt of the RWS?
According to the MAS Notice on the Sale of Investment Products [SFA04-N12], we are required to disclose to you the risks involved in transacting in overseas-listed investment products. You may either sign and return a copy of the RWS or acknowledge the RWS electronically via Maybank Trade to confirm that you have understood the risks prior to trading in any overseas-listed investment products.
Q15. When do I need to acknowledge receipt of the RWS?
With effect from 4 January 2013, you are required to read and acknowledge the RWS before performing your first transaction in Overseas Listed Investment Products (for both EIPs and SIPs).
Q16. Am I allowed to sell my existing holdings of Overseas Listed Investment Products if I have not signed the RWS?
If you have not signed and returned the RWS, you may only sell your existing holdings of Overseas Listed Investment Products through your Trading Representative.
To acquire any new positions of Overseas Listed Investment Products, you are required to acknowledge receipt of the RWS prior to trading.
Q17. How is the RWS different from the Customer Proficiency Assessment (CPA)?
Clients need to acknowledge receipt of the RWS if they wish to transact in overseas-listed investment products, be it SIPs or EIPs. The CPA is only required to be completed if clients wish to transact in SIPs, be it SGX-listed or overseas-listed.
Q18. How soon can I trade Overseas-Listed Investment Products after I submit the RWS acknowledgement?
For online submission via Maybank Trade
Online submission enables you to transact online in Overseas Listed Investment Products immediately. For trading in the US markets, this is on the condition that the W-8BEN Form has been submitted.
For hard copy submission
You will be able to trade Overseas-Listed Investment Products 1-2 business days after we have received, verified and updated your signed RWS. For trading in the US markets, this is on the condition that the W-8BEN Form has been submitted.
Q19. For joint accounts, do both joint account holders have to acknowledge receipt of the RWS?
Yes. Both account holders are required to acknowledge the RWS before they are allowed to transact in Overseas Listed Investment Products via the joint account. Acknowledgement for joint account holders has to be via hard copy submission. However, joint account holders who also maintain individual trading accounts can submit their online acknowledgement via their individual trading accounts.
Q20. If I have multiple accounts with Maybank Securities, do I need to acknowledge the RWS for every account?
You are only required to sign the RWS once. The acknowledgement will be applied across all your trading accounts maintained with us.
Q21. To whom does the RWS apply in respect of transacting in Overseas Listed Investment Products?
The requirement for acknowledgement of the RWS applies to all Retail Investors. The RWS is not required if you are:
- An Accredited Investor
- An Expert Investor
Q22. What are corporate actions and their effects on stock prices?
A corporate action is an event initiated by a publicly-traded company that affects the securities issued by the company. Corporate actions are typically agreed upon by a company's board of directors and authorised by the shareholders. Some examples of corporate actions are stock splits, dividends, mergers and acquisitions and rights issues.
When a publicly-traded company issues a corporate action, it is initiating a process that will bring actual change to its stock. By understanding these different types of processes and their effects, an investor can have a clearer picture of what a corporate action indicates about a company's financial affairs and how that action will influence the company's share price and performance.
It is important for an investor to understand the various types of corporate actions in order to get a clearer picture of how a company's decisions affect the shareholder. The type of action used can tell the investor a lot about the company, and all actions will change the stock itself one way or another.
Investors may obtain information (e.g. corporate action) about a listed company from the relevant exchanges website:
- SGX: All-in-One
Corporate Action - HKEx: Company/Securities Profile
- Bursa: Company Announcements
Corporate Action - NASDAQ: NASDAQ Company Stock Reports
- NYSE: Listing Directory
Q23. How can I update my mailing address?
Log in to your CDP Internet Service account and select the "Customer Service" tab. Thereafter, make the changes under “View/Update Profile”
or
Complete CDP's Update of Particulars Form, attach a copy of your NRIC or other original supporting documents (e.g. Bank statements/Income Tax Statements) reflecting your new address and mail it to us at:
Maybank Securities Pte Ltd
Client Services Department
50 North Canal Road
Singapore 059304
Q24. How can I update my signature and/or personal particulars (Name, NRIC, Nationality, PR Status etc)?
Updating of Signature
Visit CDP or any Maybank Securities Customer Service Centre with your relevant supporting document(s).
or
Complete CDP's Update of Signature Form and attach your relevant supporting document(s). Get the form(s) and document(s) verified by any of the following CDP Authorised Representatives before mailing them to Maybank Securities or CDP:
- Notary Public officially registered with the country’s governmental institution
- Advocates & Solicitors (preferably with a branch in Singapore)
- Justice of Peace
- Commissioners for Oaths
Updating of Personal Particulars
Visit CDP or any Maybank Securities Customer Service Centre with your relevant supporting document(s).
or
Complete CDP's Update of Particulars Form and attach your relevant supporting document(s). Get the form(s) and document(s) verified by any of the following CDP Authorised Representatives before mailing them to Maybank Securities or CDP:
- Notary Public officially registered with the country’s governmental institution
- Advocates & Solicitors (preferably with a branch in Singapore)
- Justice of Peace
- Commissioners for Oaths
Q25. How do I set my desired User-ID?
Step 1: Log in to www.ketrade.com.sg
Step 2: Click the "Personal Configurations" icon.
Step 3: Select "Change User ID" then key in your new User ID and current password.
Step 4: Click "Change".
Q26. How do I activate trade alerts?
Step 1: Log in to www.ketrade.com.sg
Step 2: Click the "Personal Configurations" icon.
Step 3: Select "Configure Alert" and enter your mobile number and/or e-mail address, depending on whether you wish to receive SMS and/or e-mail alerts.
Step 4: Click "Save".
Step 5: Click "Send Test Alert". A test alert will be sent to your mobile phone and/or e-mail address.
Q27. How do I activate stock alerts?
Follow steps 1-5 from the section "Activate Trade Alerts" above.
Step 6: Click "Trade" > "Stock Alerts"
Step 7: Select the market of your choice and key in your desired stock code or stock name.
Step 8: Click "Add".
Step 9: Select your "Alert Type" and key in the "Alert Value".
Step 10: Click "Configure Alert".
Q28. How do I add trades to my portfolio view if the trades were not done through Maybank Securities?
Step 1: Log in to www.ketrade.com.sg
Step 2: Click the "Portfolio" tab
Step 3: Click "Manual Entry"
Step 4: Key in the details of your trade
Step 5: Click "Add"
Q29. How do I remove trades from my portfolio view?
Step 1: Log in to www.ketrade.com.sg
Step 2: Click the "Portfolio" tab
Step 3: Click "Portfolio Management"
Step 4: Select the trade you wish to delete
Step 5: Click "Delete"
Q1. What is Multi-Currency e-Pay?
Enhance your online trading advantage with Maybank Trade's new payment service - Multi-Currency e-Pay, the first-of-its-kind in Singapore.
Enjoy the convenience of trading and paying for SGD, HKD and USD denominated stocks through a single platform: Maybank Trade Online. Eliminate the need for foreign currency conversion when you link Maybank Trade to a Maybank account that holds the same currency that your stock is denominated in. In addition, get speedier payouts with no hidden costs or service charges to maximise your potential yield and make the most of trading opportunities.
Q2. Why Choose Multi-Currency e-Pay?
- One Efficient Platform
With this convenient, seamless service on Maybank Trade Online, there is no need to log into a separate internet banking account to pay for stocks. In addition, sales proceeds will be credited to your designated Maybank accounts right on the due date, meaning faster access to funds.
- Eliminate the Need for Foreign Currency Conversion
Your Maybank Trade Online account will be linked to a Maybank account which holds the currency that your stock is denominated in. It allows you to tap directly on the account when you pay and hereby eliminates the need for foreign currency conversion which may impact your yield.
- No Hidden Costs or Service Charges
Unlike other modes of foreign currency payment like Telegraphic Transfers (TT) or foreign currency cheque issuances where a service charge is typically imposed, there are no service charges imposed when you make payment via Multi-Currency e-Pay.
- Preferential Interest Rates
Enjoy preferential interest rates and fee waivers for your Maybank SGD, HKD and USD banking accounts. Click here for more details.
- Option to Set a Backup Account
Multi-Currency e-Pay allows you to set a secondary account as a backup to your primary account for deduction of share payments, should the primary account have insufficient funds. This will prevent force selling of shares due to non-payment.
Q3. Are there any charges for using Multi-Currency e-Pay?
There are no charges for using Multi-Currency e-Pay, except for Maybank Securities' share trading fees and Maybank account maintenance fees, if any.
Q4. How Do I Make Payment Using Multi-Currency e-Pay?
Step 1: Log into Maybank Trade Online and click on e-Services> e-Forms> Multi-Currency e-Pay
Step 2: Select the contracts you wish to make payment for
Step 3: Verify the status on the due date
Q5. When will sales proceeds, contra gains and dividends be credited to my account?
Sales proceeds will be credited to your bank account on the due date. Contra gains will be paid 1 day after contra date. Dividend crediting takes up to 5 working days.
Note:
- For sales proceeds and contra gains, crediting will only take place if the Multi-Currency e-Pay linkage is in the same currency as the settlement currency.
- For dividends, crediting will only take place if the Multi-Currency e-Pay linkage is in the same currency as the traded currency of the stock. Dividends crediting is only applicable for shares custodised with Maybank Securities.
Q6. How Can I Enjoy This Service?
For Individuals with Maybank Trade and Maybank Accounts
Simply link your Maybank Trade and Maybank accounts!
Download the Multi-Currency e-Pay application form, complete sections A, B and D, and mail it to the following address:
Maybank Securities Pte Ltd
Client Services Department
50 North Canal Road
Singapore 059304
The application process will take approximately 12 working days.
For Individuals with a Maybank Trade Account Only
Sign up for a Maybank account and link it to your Maybank Trade account either in person or by mail.
- In Person
Visit any of our Customer Service Centres with the following supporting documents:
Nationality Supporting Documents Singaporean/Permanent Resident of Singapore (i) NRIC Other Nationalities (i) Passport; or
(ii) Foreign Identification Card;
(iii) Proof of Mailing Address such as an original utility bill or bank statement showing your residential address in Singapore - By Mail
Download the Multi-Currency e-Pay application form and complete sections A, C and D. Mail it to the following address:
Maybank Securities Pte Ltd
Client Services Department
50 North Canal Road
Singapore 059304
Note: The application process will take approximately 12 working days.
For Individuals with a Maybank Account Only
There are 2 ways:
1. Online
Step 1: Sign up for a Maybank Trade account online here
Step 2: Under Personal Details > Type of Account for Stock Trading, select "Cash"
Step 3: Under Bank Account Details > Payment Method for Stock Trading, select "Multi-Currency e-Pay (MCEP)
Step 4: Select "Link my existing Maybank account(s) for the purpose of MCEP"
2. In Person
Visit any of our Customer Service Centres with the following supporting documents
| Nationality | Supporting Documents |
| Singaporean/Permanent Resident of Singapore | (i) NRIC |
| Other Nationalities |
(i) Passport |
Note: The application process will take approximately 12 working days.
For Individuals with No Maybank Trade or Maybank Accounts
There are 2 ways:
1. Online
Step 1: Sign up for a Maybank Trade account online here
Step 2: Under Personal Details > Type of Account for Stock Trading, select "Cash"
Step 3: Under Bank Account Details > Payment Method for Stock Trading, select "Multi-Currency e-Pay (MCEP)
Step 4: Select "Open and link my new Maybank account(s) for the purpose of MCEP"
2. In Person
Visit any of our Customer Service Centres with the following supporting documents
| Nationality | Supporting Documents |
| Singaporean/Permanent Resident of Singapore | (i) NRIC |
| Other Nationalities |
(i) Passport |
Note: The application process will take approximately 12 working days.
Q7. Can I apply for Multi-Currency e-Pay if I do not have a Maybank account?
You must have a Maybank account as this service is for debiting from and crediting to Maybank account(s) respectively.
If you do not have a Maybank account but wish to open one for the purpose of Multi-Currency e-Pay, you may do so either in person at any Maybank Securities Customer Service Centre or Investor Centre, or through mail. Please follow the steps in question 3 to open your Maybank (SGD, USD, or HKD) account(s)* and set up Multi-Currency e-Pay.
For more information on Maybank accounts, please contact Maybank’s Customer Relationship Executives on 1800-MAYBANK (1800-629 2265) or (65) 6533 5229 (Overseas).
*A deposit is not required when you submit the application.
Q8. What Maybank account(s) can be opened for the purpose of Multi-Currency e-Pay?
The following Maybank account(s) can be opened for Multi-Currency e-Pay:
| Currency | Type of Account |
| SGD | iSAVvy Savings Account |
| USD | USD Foreign Currency Current Account |
| HKD | HKD Foreign Currency Current Account |
Q9. When I open and link a new Maybank account for the purpose of Multi-Currency e-Pay, do I need to place a deposit?
There is no need to place a deposit when you submit the application form. Upon receiving the account opening notification letter, please deposit at least the initial minimum deposit amount required within a month of the account opening date. If you did not receive the account opening notification letter, you may check the account-opening status via:
- Your Maybank Online or Mobile Banking (www.maybank2u.com.sg)
- Maybank's Contact Centre at 1800-MAYBANK (1800-629 2265)/(65) 6533 5229 (Overseas)
Q10. I already have a Maybank account. How do I apply for Multi-Currency e-Pay?
You can apply to link any Maybank account denominated in SGD, USD or HKD for the purpose of Multi-Currency e-Pay. If you are not the Maybank account holder, you will need the signatures of the authorised signatories of the Maybank account(s).
To apply to link a Maybank account(s) and set up Multi-Currency e-Pay, please follow the steps in question 3.
Q11. What are the account privileges that I will enjoy when I open a new Maybank account for the purpose of Multi-Currency e-Pay?
Enjoy preferential interest rates and fee waivers for your SGD, HKD and USD banking accounts. Click here for more details.
Q12. How long does it take to process my application?
Upon receiving your application form and supporting documents, it will take approximately 12 working days to process your application.
Q13. How do I check on my application status?
You may check on your application status by:
- Checking Maybank Trade Online
- Contacting Maybank Securities’ Helpdesk on (65) 6432 1888 or at MSSG_Helpdesk@maybank.com
- Contacting Maybank's Contact Centre at 1800-MAYBANK (1800-629 2265)/(65) 6533 5229 (Overseas)
Q14. How do I check whether the share payment has been successfully debited or credited into my Maybank account(s)?
You may check by:
- Visiting Maybank Trade Online
- Contacting Maybank Securities’ Helpdesk on (65) 6432 1888 or at MSSG_Helpdesk@maybank.com
- Contacting Maybank's Contact Centre at 1800-MAYBANK (1800-629 2265)/(65) 6533 5229 (Overseas)
- Visiting Maybank Online Banking or Mobile Banking (www.maybank2u.com.sg)
Q15. Will I be notified when there has been unsuccessful debiting from my Maybank account for share payment via Multi-Currency e-Pay?
Maybank Securities will inform you of any unsuccessful payment via phone call.
Q16. After I start using Multi-Currency e-Pay, how do I link additional or delink existing Maybank account(s) for the purpose of Multi-Currency e-Pay?
To add Maybank account(s) or delink existing account(s) from Multi-Currency e-Pay, approach your nearest Maybank Securities Customer Service Centre for assistance.
Q1. What is the Rewards programme about?
Maybank Securities Rewards Programme (“Rewards Programme”) is a loyalty programme that lets you earn points to redeem a range of items from our catalogue.
Q2. Who is eligible for the Rewards programme?
All Maybank Trade Cash, Prefunded and Margin clients are eligible for the Rewards Programme.
Q3. How do I earn/accumulate points?
For every SGD25 of commission payable for your online and/or mobile trades, you will earn 1 Rewards Point.
Please note that from 1 June 2016, you will receive 1 point for every SGD5 of commission paid on your online and mobile trades instead of 1 point for every SGD25 of commission on these trades so that you can accumulate more points, fast. We will also multiply your existing Rewards Points and the Rewards Points needed for each item by 5.
Rewards Points will be awarded on a contract level daily, and rounded down to the nearest Rewards Point.
Q4. Will my points expire?
Yes. Points accumulated in a single calendar year will expire 3 months (31 March) after the end of the calendar year (31 December), i.e. your points accumulated in this calendar year will expire on 31 March of the next calendar year.
Q5. How are points awarded to clients with multiple trading accounts?
Points will be awarded based on a client's unique Maybank Trade User ID. Points earned from multiple trading accounts under the same Maybank Trade User ID will be amalgamated.
Q6. How do I redeem an item?
Simply click on the item’s “Redeem”, “Confirm” or “Add to Cart” button and go to “Items in Cart” to confirm your redemption.
Q7. What are TREATS vouchers?
Rewards Points can be used to redeem TREATS vouchers. These vouchers are accepted at a wide range of merchants island-wide, including malls, major departmental stores as well as dining and retail outlets. They include TANGS, Long Beach Seafood, TungLok, Swensen’s and more.
Q8. I have redeemed a Rewards item from the Home, Health & Lifestyle category. When must I collect the item by?
The Rewards items you have redeemed must be collected within 3 months. Assuming you redeem Sony Headphones on 1 Jun, you must collect the item by 30 Aug.
Q9. I have redeemed a Rewards item from the Leisure & Entertainment category. When must I collect the item by?
The Rewards items you have redeemed must be collected within 3 months. Assuming you redeem two Shaw Theatres movie tickets on 1 Jun, you must collect the tickets by 30 Aug.
Q10. I have redeemed a shopping or dining voucher from the Vouchers category. When must I collect the item by?The vouchers you have redeemed must be collected within 3 months. Assuming you redeem two SGD50 AsiaMalls Gift Vouchers on 1 Jun, you must collect the vouchers by 30 Aug.
If you have redeemed a TREATS voucher, they have to be used within 6 months. Assuming you redeemed the voucher on 1 Jun, you will have to use the voucher by 31 Dec.
Q11. What are trade rebates?
They are rebates denominated in SGD10 and SGD20 that can be used in relation to commissions. From 1 June 2016, trade rebates can be used on Maybank Trade, Maybank Trade Prefunded and Maybank Trade Margin trades.
Q12. How do trade rebates work?
If you redeem trade rebates, they will be reflected under “Redemption Status” > “Redemption History” as being “Approved”. The rebate will then be applied to your next eligible online or mobile trade.
The following illustrations show how trade rebates work:
Illustration 1:
Assume you redeem one SGD20 trade rebate on the Rewards portal on Day 1. On Day 2, you execute a Margin trade and are charged a commission of SGD25. On T+3, you make payment for your Margin trade via EPS. During the next calendar month, your rebate will be processed and by the end of the month, SGD20 will be credited to your Margin account.
Illustration 2:
Assume you redeem two SGD10 trade rebates on the Rewards portal on Day 1. On Day 2, you execute a trade from your Prefunded account and are charged a commission of SGD18. On T+3, the payment for this trade is deducted from your Prefunded account. During the next calendar month, your SGD10 rebate will be applied and by the end of the month, SGD10 will be credited to your Prefunded account.
Q13. How long are my trade rebates valid for?
Each trade rebate is valid for 3 months from the date of redemption. That means that you need to execute your next online or mobile trade within this 3-month period for the trade rebate to be applied. Assuming you redeem an SGD20 trade rebate on 1 Jun, you need to execute a trade generating at least SGD20 commission by 1 Sep for the trade rebate to be applied.
Q14. Where can I see the expiry date of my trade rebates?
Go to the Rewards portal and click “Redemption Status”. Click on the “Details” button next to the “Trade Rebate Available Balance”. The expiry date of each redeemed trade rebate is stated in the “Expiry Date” column.
Q15. How do I find out which contracts my trade rebates will be used in relation to?
Under “Redemption Status”, click on the “Details” button next to the “Trade Rebate Available Balance”. The details of the contracts can be read off from the columns “Account No”, “Contract No”, “Contract Date” and “Brokerage Amount (S$)”. If your trade rebates have been processed, it will be reflected as “Utilized” under the “Remarks” column.
Q16. How do I check if I have sufficient available balance for the SMS Alerts and/or Forced Order Keys rewards?
Click on “Redemption Status” for a snapshot of your available balance for SMS Alerts and Forced Order Keys.
Q17. How does auto redemption work?
The auto redemption feature allows you to redeem selected Rewards items automatically, based on a preset criteria. Auto redemption will be triggered once the preset criteria is met. For example, if the “Minimum Balance” value is set at 10, then the auto redemption will be triggered when the available balance equals to or falls below the “Minimum Balance” value. The “Redeem” value determines the quantity to be automatically redeemed when the available balance falls below the “Minimum Balance” value.
Trade Rebate Example:
Assume you set the “Minimum Balance” value for SGD20 Trade Rebate to 2 and the “Redeem” value to 2. When the available balance for SGD20 Trade Rebates equals to 2 on Day 1, another 2 SGD20 Trade Rebates will be automatically redeemed for you at the end of Day 1, and you will begin Day 2 with SGD80 worth of trade rebates.
Market Depth Example:
Assume you set “Minimum Balance” value for Market Depth to 3 months and “Redeem” value to 1 month. When Market Depth's expiry falls to less than 3 months on Day 1, 1 more month of Market Depth will be automatically redeemed for you at the end of Day 1, and you will begin Day 2 with Market Depth expiring 4 months later.
SMS Alert Example:
Assume you set the “Minimum Balance” value for SMS Alerts to 10 SMSes and the “Redeem” value to 10 SMSes. When the available balance for SMS Alerts falls to 9 SMSes on Day 1, another 10 SMS Alerts will be automatically redeemed for you at the end of Day 1, and you will begin Day 2 with 19 SMS Alerts.
Please take note that all auto redemptions are dependent on your available balance of Rewards Points. Rewards Points will be deducted from your account for every successful auto redemption. Insufficient points in your account will result in an unsuccessful auto redemption for the item.
Q18. How do I set up auto redemption?
Simply click on “Auto Redemption” located on the top menu bar of the Rewards portal and set your preferences. Please refer to Q17 for more details.
Q1. Will I be receiving two sets of User IDs and passwords for my Maybank Trade Internet account and Margin account?
You will be given only one User ID and password when you apply for Maybank Trade Cash and Margin accounts. You will be able to use your User ID and password to operate both your Internet Cash and Margin accounts. You can select the Cash/Margin account in the "Trading Account" drop-down bar upon logging into Maybank Trade.
Q2. How do I change my User ID?
To change your User ID, complete the following steps:
- Select "Personal Configuration" (at the right hand side of the screen) after you have logged into our website
- Select "Change User ID"
- Enter your new User ID and confirm the new User ID (Note: Your new User ID must be between 5 to 25 characters)
- Click on the word "Change" thereafter. A message will appear to confirm that the User ID has been successfully changed
Q3. How do I change my password?
To change your password, complete the following steps:
- Select "Personal Configuration" (at the right hand side of the screen) after you have logged into our website
- Select "Change User ID"
- Enter your current password, your new password, then confirm the new password (Note: Your new password has to be of 6 to 12 characters (alphanumeric, case-sensitive) with no space/punctuation marks)
- Click on the word "Change" thereafter. A message will appear to confirm that the password has been successfully changed
For security reasons, it is advisable to:
- Change your password on a regular basis
- Create a good and strong password (case-sensitive, combination of alphabets and numerals)
Note: your password should be known only to yourself and should not be shared or disclosed to others.
Q4. I have forgotten my User ID and/or password. What should I do?
If you have forgotten your password, please click here and your password will be e-mailed to you. This is only applicable if you have a Singapore registered mobile number and valid e-mail address in our records. Otherwise, please complete this form and send it to MSSG_Helpdesk@maybank.com. Upon successful verification of your signature, we will send the new password by post to your mailing address in our records.
For assistance on your User ID, please contact Customer Service at MSSG_Helpdesk@maybank.com or (65) 6432 1888.
Q5. Why do I see a Single Factor Authentication(1FA) Risk Acknowledgement page after logging in?
With effect from 21 September 2017, in compliance with MAS’s regulations, all clients with single factor authentication (1FA) will be required to acknowledge the risks associated with using 1FA.
If you are currently on 1FA, you will see an additional “Single Factor Authentication(1FA) Risk Acknowledgement” page after logging in.
Q6. What is Two-Factor Authentication (2FA)?
Two-Factor Authentication (2FA) is the verification of a user's online identity.
The current practice used by financial institutions in Singapore is the provision of a unique One-Time Password (OTP) to their clients. This is also practiced by Maybank Securities. When a client wishes to access one of our online services, the client is required to enter an additional unique OTP, which is generated on demand through a hardware token device.
Q7. What is the purpose of 2FA?
The primary objective of two-factor authentication is to secure the customer authentication process and to protect online customer accounts against unauthorised access. In doing so, client confidence in online trading systems will be boosted. Furthermore, 2FA is a useful tool against cyber attacks targeted at financial institutions and their clients.
Q8. Is 2FA compulsory for trading through Maybank Securities?
At this point in time, 2FA is not compulsory for trading through us. However, we strongly believe that 2FA provides better security for clients and we encourage clients to use 2FA to enjoy an enhanced level of security during online trading.
Q9. Can I still opt for 2FA if I have opted out previously?
Yes, you can opt for 2FA through the 2FA tab under the Personal Configuration in Maybank Trade online trading platform.
Q10. How do I de-link my 2FA?
With effect from 29 September 2017, you may delink your 2FA in the enhanced Personal Configuration module.
Please follow these steps to de-link your 2FA device:
Step 1: Click on the Personal Configuration icon on Maybank Trade website.
Step 2: Click on the 2FA tab
Step 3: Tick the check box “I would like to delink my 2FA device from this trading site” and click OK
Step 4: Tick the check box to acknowledge the Risk Awareness Statement and click OK
Step 5: You have successfully de-linked your 2FA device
Q11. When do I need to use the One-Time Password (OTP)?
You will be prompted for the OTP only upon login. There is no 2FA OTP required for performing online transactions at this moment.
Q12. Is 2FA applicable if I log in via Maybank Trade Mobile?
Yes. As of 1 July 2017, 2FA is applicable when you login via Maybank Trade Mobile.
Q1. Is there a limit on the quantity or value of shares that I can buy/sell?
A global trading limit (for trades done through your Trading Representative and Maybank Trade) is set based on information furnished in your account opening form.
The daily trading limit on Maybank Trade is a subset of the global trading limit. Once you have reached this limit on a particular day, you will not be able to trade via Maybank Trade. However, you may continue to trade through your Trading Representative if your total outstanding transactions does not exceed the global trading limit. On the next market day, you may resume trading on Maybank Trade at the same daily limit, assuming you have not exceeded your global trading limit.
Q2. How will I know the status of my orders?
We will send you an e-mail immediately once your order has been executed. Alternatively, you may check the status of all your trades through the "Orders" pagelet.
The system will show you one or more of the following statuses of your order(s):
| Status | Description |
| PO | Pending to Enter Queue |
| Q | Order Accepted in Queue |
| F | Filled Order |
| PF | Partially Filled Order |
| PA | Reduced Order Pending to Enter Queue |
| AC | Reduced Order Accepted in Queue |
| PC | Order Pending Cancellation |
| C | Cancelled Order Accepted in Queue |
| R | Rejected Order |
| E | Expired Order |
| U | Unknown Status |
Q3. Can I amend or withdraw my orders?
Once you have confirmed your order, it will be received by Maybank Trade and will be put in the queue. To amend or withdraw your order, go to your "Orders" pagelet:
Right click on the counter on your "Order" pagelet that you wish to amend or withdraw; then choose the function "Amend" or "Withdraw".
Please include the "Partially Filled" quantity (if any) in the "New Quantity" value when amending orders for HKEx, Bursa, NYSE and NASDAQ exchanges.
Q4. How will order amendment affect the order queue priority for SGX and HKEX?
Amendment of order price and quantity are available for SGX and HKEX. Please note that order queue priority will be lost if there is an increase in the order quantity or an increase/decrease in the order price. Order priority will be maintained if there is a decrease in order quantity. The revised order price will be subject to the price spread validation check by HKEX and SGX.
Q5. Can I contra my trades?
As a general rule, contra will be performed automatically on a first-in-first-out basis if there is a corresponding sell contract to match against an outstanding buy contract of the same counter (not applicable to CPF/SRS transactions).
For trades settled in SGD, USD, HKD and AUD, contra will be allowed up to due date ("D"). Any contra losses due for settlement in foreign currencies will be converted to SGD after 7 market days to minimise any foreign currency exposure.
For Bursa Malaysia trades:
- Contra in MYR will be allowed till D for buy proceeds up to MYR500,000 on a per counter basis.
- For amounts above MYR500,000, only intra-day contra will be allowed.
If you do not wish to contra your trade(s) on a first-in-first-out basis, kindly inform your Trading Representative latest by the end of the trading day of the sell trade(s).
Q6. Am I allowed to do short-selling?
Please note that we DO NOT permit short selling without the ability to make delivery for all markets. You will be responsible for all losses, damages, costs, charges and/or expenses arising as a result.
Should you desire to short sell a counter, you may use our Securities Borrowing & Lending (SBL) facility which would allow you to borrow securities to short sell, subject to our Securities Borrowing & Lending terms and conditions. Please visit Securities Borrowing & Lending for more information.
Q7. What should I do if I made an error resulting in a short sell position?
For any error made, you are required to cover the short positions within the trade date (T).
Q8. What happens if I am unable to cover my short sell position within trade date (T)?
Any failure to cover the short positions on the trade date would result in a buying-in instituted by the SGX on the due date (T+2 at 3:00pm and T+2 at 11:00am for eve of public holidays). Please note that the following additional cost will be borne by you for buying-in:
- Buying-in processing fee of SGD75 (subject to 7% GST).
- Commission rate of 0.75% of contract value.
In the event that the buying-in is not completed by T+2, buying-in will continue on T+3 with a possible penalty of SGD1,000 imposed or 5% of contract value, whichever is higher.
With effect from 29 February 2016, SGX will not impose a penalty only if both of the following criteria are met:
- The failed contract value is SGD10,000 and below
- The end-client has not failed to deliver securities before.
Should there be any buying-in not completed by T+3, the short position will be subjected to procurement process from T+4. If the position is not covered by T+6, SGX may impose a further penalty of SGD5,000.
Should the procurement still be unsuccessful, SGX will initiate cash settlement at the end of T+7 to clear the outstanding position.
Q9. Can I use CPF to trade or do contra using CPF funds?
- You can use up to 35% of your approved CPF investment amount to invest in securities.
- However, you must open a CPF Investment Account with any of the agent/local banks:
- DBS Bank Ltd (DBS)
- Oversea-Chinese Banking Corporation (OCBC Bank)
- United Overseas Bank Limited (UOB)
- Sign a one-time Standing Instruction Form for Utilisation of CPF Funds. This form may be submitted through us or upon opening a CPF Investment Account.
- Your agent bank will send a confirmation of your approved CPF Investment Account number once it is successfully opened.
- You must update us with your approved CPF Investment Account number for linkage to your trading account via your trading representative or email to us. Once your linkage has been established with us successfully, you may start using your CPF funds to trade.
- You may not use any CPF funds to do contra trading, or for settlement of foreign trades, or for non-CPF approved counters. You may call your Trading Representative to check if a particular counter is CPF approved.
Q10. Can I queue at a price that is above or below the current market price and what is Minimum Bid Size?
The revised minimum bid size and force order range schedule with effect from 13 November 2017 are as follows:
|
Products |
Price Range (SGD) |
Bid Size (SGD) |
Forced Orders (Bids) |
|
Stocks (excluding preference shares), Real Estate Investment Trusts (REITS), business trusts, company warrants and any other class of securities or not specified in the rows below |
Below 0.2 |
0.001 |
+/-30 |
|
0.2 – 0.995 |
0.005 |
||
|
1.00 and above |
0.01 |
||
|
Structured Warrants |
Below 0.2 |
0.001 | +/-30 |
| 0.2 – 1.995 | 0.005 | ||
| 2.00 and above | 0.01 | ||
|
Exchanged Traded Funds and Exchange Traded Notes |
All | 0.01 or 0.001 as SGX-ST determines* | +/-30 |
| Debentures, bonds, loan stocks and preference shares quoted in the $1 price convention |
All | 0.001 | +/-30 |
|
Debentures, bonds, loan stocks and preference shares quoted in the $100 price convention |
All |
0.001 |
+/-1,000 |
* For minimum bid size information on securities traded in Hong Kong Dollar and Japanese Yen and other further information, please refer to SGX website here.
Q11. Why are my orders rejected?
Orders submitted could be "rejected" for these possible reasons:
- You have submitted an order with a price that is not within 30 bids of the last done price.
- Overnight orders submitted beyond thirty 30 bids of the previous day's closing price will be rejected during the Pre-Opening routine at 8.30am (Singapore time).
- Your Buy price is higher than the current best Ask (selling) price or your Sell price is lower than the current best Bid (buying) price.
- You have exceeded your Trading Limit. Please contact your Trading Representative for any request in the revision of your trading limit.
E.g. you do not have sufficient securities holdings in your selected trading account in order to proceed with the sell order.
Q12. What is the validity period for my orders?
All orders submitted are only valid for one trading day. Any orders that are not done at the end of each trading day will expire.
Q13. How do I trade using my CPF Investment or SRS (Supplementary Retirement Scheme) account?
To trade using your CPF/SRS account, please select 'CPF' or 'SRS' as the payment mode when submitting your online order.
Q14. What do I need to take note of when performing CPF/SRS trades?
- CPF payment mode is available for all CPF approved stocks listed on SGX. There will be a "CPF" indicator displayed under the Ind column of our trading platform for stocks that are tradable via CPF investment account.
- SRS payment mode is available for most SGX stocks except for ADRs and some corporate bonds. Clients are advised to check against the prospectus or with their agent banks if a stock is eligible under the Supplementary Retirement Scheme ("SRS").
- Kindly ensure that "SGD" is selected as the settlement currency for all CPF/SRS trades. In the event if foreign currency is selected as the settlement currency, the CPF/SRS trade will be revoked to Cash trade.
- Kindly ensure that there are sufficient funds in the CPF/SRS account for purchases. In the event that there is insufficient funds in the CPF/SRS account, the CPF/SRS trades will be revoked to Cash trade and subject to the normal settlement rules of trade date + 2 market days.
- Contra is not allowed for all CPF/SRS trades.
- Kindly contact your Trading Representative on Trade Date for any amendments to CPF/SRS trades. Please note that agent banks charge additional processing fees for trade amendments made after Trade Date.
Q15. What is mid-day trading break that is being offered by SGX?
From 13 November 2017, there will be a mid-day trading break from 1200h to 1300h, during which orders will not be matched but participants may enter, amend or cancel orders. An indicative equilibrium price (IEP) will be published to provide an indication of the market level during the break, which ends with an auction. Continuous trading resumes at 1pm.
This change addresses the preference of some market participants for shorter trading hours while retaining significant overlap in trading hours with key markets in Asia. The break also allows trading representatives to engage their clients or for issuers to make announcements during this period.
For more information on mid-day break, please refer to SGX website here.
Q16. What are random endings to the Pre-Open and Pre-Close phases of the Opening and Closing Routines?
SGX has introduced random endings to the Pre-Open and Pre-Close phases of the Opening and Closing Routines to mitigate risks of pre-opening and pre-closing price manipulation. This means that the market will close at any time within a specified interval rather than at a designated time.
Full Day Trading
| From 3 June 2019 | Start | End | |
| Opening Routine | Pre-Open | 0830 | 0858 – 59* |
| Non-Cancel | 0858 – 59* | 0900 | |
| Trading | Open | 0900 | 1200 |
| Mid-Day Break | Pre-Open | 1200 | 1258-1259* |
| Non-Cancel | 1258-1259* | 1300 | |
| Trading | Open | 1300 | 1700 |
| Closing Routine | Pre-Close | 1700 | 1704-05* |
| Non-Cancel | 1704-05* | 1706 | |
| Trade At Close | Trade At Close | 1706 | 1716 |
| Close | 1716 | ||
Half Day Trading
| From 3 June 2019 | Start | End | |
| Opening Routine | Pre-Open | 0830 | 0858 – 59* |
| Non-Cancel | 0858 – 59* | 0900 | |
| Trading | Open | 0900 | 1200 |
| Closing Routine | Pre-Close | 1200 | 1204-05* |
| Non-Cancel | 1204-05* | 1206 | |
| Trade At Close | Trade At Close | 1206 | 1216 |
| Close | 1216 | ||
* The Pre-Open/Close phase ends randomly at any time within this one-minute window and the Non-Cancel phase begins immediately after.
Q17. What is Indicative Equilibrium Price (‘IEP’) and where will it be published?
To provide greater market transparency, a new column named “EP” will be added to Maybank Trade screen to display the Indicative Equilibrium Price (“IEP”). IEP is the price at which orders would be executed if orders matching were to occur at that point. This will help clients to assess the market and adjust their orders if desired.
Do note that all better bid/ask prices and quantities will be masked to safeguard against manipulation of the eventual equilibrium price. Clients will no longer be able to view better bid/ask prices and quantities during the Pre-Opening (0830h to 0859h) and Pre-Closing routines (1700h to 1705h).
Q18. On the Quotes page, what do the abbreviations in the Remark (Rmk) column denote?
Remarks for SGX Singapore Market
|
Rmk |
Description |
|
BI |
BuyIn Only |
|
CB |
Cum Bonus |
|
DL |
Delisted |
|
PL |
Pending Listing |
|
SUSP |
Suspended |
|
CA |
Cum All, Any combination of Cum remarks |
|
CD |
Cum Dividend |
|
CE |
Cum Entitlement |
|
CI |
Cum Interest |
|
CO |
Cum Offer |
|
CR |
Cum Rights |
|
H |
Trading Halt |
|
J |
Adjust |
|
WI |
When Issued |
|
XA |
EX All, Any combination of Ex remarks |
|
XB |
Ex Bonus |
|
XD |
Ex Dividend |
|
XE |
Ex Entitlement |
|
XI |
Ex Interest |
|
XO |
Ex Offer |
|
XR |
Ex Rights |
Q19. What are the trading hours for Singapore Exchange (SGX-ST), Bursa Malaysia (Bursa), Hong Kong Exchange (HKEX), Stock Exchange of Thailand (SET) and Shanghai-Hong Kong Connect North Bound (SH-HK)?
| Exchange | Trading Hours (Singapore Time) |
| SGX-ST |
9.00am - 12.00pm (Morning Session) |
| Bursa | 9.00am - 12.30pm 2.30pm - 4.45pm |
|
HKEX |
9:30am – 12:00pm (Morning Session) |
| SET | 11.00am - 1.30pm 3.30pm - 5.30pm |
| SSE-HK |
9.15am - 09.25am (*Opening Call Auction)
|
The exchanges above are not open for trading on weekends and Public Holidays in the respective countries.
Q20. What are the non-trading days for Singapore Exchange (SGX-ST), Bursa Malaysia (Bursa), Hong Kong Exchange (HKEX), Stock Exchange of Thailand (SET) and Shanghai-Hong Kong Connect North Bound (SH-HK)?
Click here to view Singapore Exchange non-trading days.
Click here to view Bursa Malaysia non-trading days.
Click here to view Hong Kong Exchange non-trading days.
Click here to view Thailand Exchange non-trading days.
Investors are only allowed to trade on days where both markets are open for trading and banking services are opened in both markets on corresponding settlement days.
SH-HK will provide the Northbound Trading Calendar at the beginning of each calendar year.
Q21. What is dual currency trading, introduced by SGX?
SGX has introduced dual currency trading for selected stocks.
The listed stock can be traded in two different currency denominations (for example, USD and SGD) and share/unit holdings are custodised as a consolidated pool at the depository end.
The introduction of this functionality provides more cost efficiency to investors as they are able to trade stocks that are listed in a foreign currency in their local currency. They are also able to trade the listed stock in both currencies without having to have separate unit holdings at CDP.
Please click here for more information.
Q22. What is the main advantage for dual currency trading?
The main advantage of this functionality is that it provides investors the option to trade in either currency with transparency. Previously, investors who are trading in a USD-denominated stock counter and wish to settle the trade in another currency (i.e. SGD) will have to specify this during order entry and will be subject to foreign exchange settlement at the FX rate provided by your broker. With this new functionality, investors can directly buy/sell in the SGD counter without having to wait till settlement to know the converted amount.
Q23. What are the risks associated with dual currency trading?
In most cases, the traded prices in the two counters should theoretically be equivalent or close to each other, taking into consideration the prevailing FX rate. However, in certain cases, due to other market supply and demand factors in the respective counters, the price relationship and difference between the two counters of the listed stock might not necessarily be the FX rate between both counters. This is possible in illiquid stocks and in the absence of market makers to provide competitive quotes.
Q24. What is the board lot size for securities stocks listed on Singapore Exchange (SGX)?
Board lot is the designated trading size for each securities stock listed on SGX. In the SGX ready-market, the board lot of a securities stock is usually 100 shares. However, for certain stocks such as Creative Technology, the board lot is designated as 50 shares instead. Some counters also have different board lot sizes traded in the ready-market. An example is SingTel, which has board lot of 10 shares and 100 shares.
Q25. What is a Trade at Close (TAC) Session in the Singapore Exchange (SGX)?
With effect from 3 June 2019, SGX will be introducing a new “Trade at Close” (TAC) session. The 10-minute-long TAC session will immediately follow the closing auction routine and will allow participants to execute orders at the Closing Auction Price (CAP) set during the closing auction routine.
The extended trading phase, TAC, will enable participants to transact at an already-established closing price. Investors and brokers who desire price certainty or those looking to fill an order that was not completely transacted during the closing routine will benefit from the new TAC session.
For more information, please click here to visit the SGX website.
Q26. How will the trading hours change due to TAC for SGX?
The TAC session will occur at 5.06pm to 5.16pm on a regular trading day and from 12.06pm to 12.16pm if the market is trading for half a day.
Q27. Where do I find the Closing Auction Price (CAP) on Maybank Trade Online Platform?
Step 1: Click 4Site
Step 2: Click on Add Pagelet icon and add “Quotes” Pagelet
Step 3: Click on Edit Pagelet Settings, Select Column tab, Add “CAP”
Step 4: Values will appear in the list during TAC session
Q28. Where do I find the Closing Auction Price (CAP) on Maybank Trade Mobile Platform?
CAP can be viewed under “Quotes”. Values will appear in the CAP field during TAC session.
Q29. What stocks are available for trading on SET?
For SET Market, only NVDRs (non-voting depository receipts) and foreign shares are available for trading. Please click here for more details on NVDRs.
Q30. What stocks are available for trading on SH-HK Connect North Bound?
Constituent stocks of SSE180 and SSE380 Index. SSE-listed A shares not included as constituent stocks but have corresponding H shares listed on SEHK except for:
- SSE-listed shares not traded in RMB
- SSE-listed shares included in the "risk alert board"
Q31. What is the trading quota for SH-HK Connect North Bound?
There are 2 types of quota imposed as part of SH-HK Connect.
- Maximum cross-boundary investment quota (Aggregate Quota)
- Quota of RMB300 billion
- Aggregate Quota balance = Aggregate Quota – aggregate buy trades + aggregate sell trades (calculated at the weighted average cost)
- Quota balance will be published on HKEX website after SSE’s Market Close
- Northbound buying will only be allowed when aggregate quota is not hit
- Daily Quota
- Limits the maximum net buy value of cross-boundary trades under Shanghai-Hong Kong Stock Connect each day
- Quota of RMB13 billion
- Daily Quota Balance = Daily Quota – Buy Orders + Sell Trades + Adjustment
- Daily Quota balance will be disseminated on HKEX website at 1-minute intervals
Once Daily Quota is exceeded during a continuous auction session, no further buy orders will be accepted for the remainder of the day
Q32. What are the trading rules and regulations for SH-HK Connect North Bound?
- Only Limit Order Type is allowed
- Day trading not allowed (sell only shares available in stock account at end of the previous day)
- Board lot size of 100 shares - Odd lot is available for sell orders and odd lot must be in a single order
- Tick size is RMB0.01
- General price limit of 10% based on previous closing price (order beyond price limit will be rejected by SSE) - No order amendment is allowed
- 30% max for foreign investors’ shareholding. If exceeded, foreign investors will sell based on a last-in-first-out basis within five trading days
- Investor disclosure when 5% is reached
Q33. What is a Closing Auction Session (CAS) in the Hong Kong Exchange (HKEX)?
A closing auction is a commonly used trading mechanism which allows trades to be executed at the closing price. During a closing auction, market participants may input buy and sell orders, with the price that most volume can be traded at forming the closing price. All orders will then be executed at that price.
Q34. How will the trading hours change due to CAS for HKEX?
For the securities markets, the market closing time will change from 16:00 to a random closing of anytime between 16:08 and 16:10 for a normal trading day. It will change from 12:00 to a random closing of anytime between 12:08 and 12:10 for a half day trading.
For the derivatives market, the closing times of normal trading sessions for Stock Index Futures and Options, Currency Futures and Commodity Futures will change from 16:15 to 16:30 for a normal trading day and from 12:00 to 12:30 for a half trading day, except on the last trading day of the contracts. The opening time of After-Hours Futures Trading will change from 17:00 to 17:15.
In addition, trading hours on the last trading day, the final settlement price calculation algorithm and typhoon arrangements will also change accordingly.
Q35. How does the CAS in HKEX work?
In the first period (Reference Price Fixing Period, 4:00-4:01 pm), a reference price, which sets the allowable price limit of the CAS (±5 per cent from the reference price), is calculated for each CAS security. The reference price is determined by taking the median of 5 nominal prices in the last minute of the CTS.
In the second period (Order Input Period, 4:01-4:06 pm), at-auction orders and at-auction limit orders within the ±5 per cent price limit can be entered, amended or cancelled.
Starting from the third period (No-Cancellation Period, 4:06-4:08 pm), at-auction orders and at-auction limit orders can be entered. However, the prices of new at-auction limit orders must be between the lowest ask and highest bid of the order book, and no orders can be amended or cancelled.
In the last period (Random Closing Period, 4:08-4:10 pm), the order rules from the No-Cancellation period apply and the market closes randomly within two minutes. After the period, there’s order matching for all CAS securities. In cases where no closing price is established during the CAS, the reference price would become the closing price. This price would also be used for order matching based on matching priority, i.e. by order type, price and then time.
Q36. What order types are allowed during CAS for HKEX?
4:00 – 4:01pm: Reference Price Fixing Period
No orders allowed
4:01 – 4:06pm: Order Input Period
At-auction orders and at-auction limit order.
Input, amendment and cancellation are allowed.
4:06 – 4:08pm: No Cancellation Period
At-auction orders and at-auction limit order.
Input is allowed. Amendment and cancellation are not allowed.
4:08 – 4:10pm: Random Closing Period
At-auction orders and at-auction limit order.
Input is allowed. Amendment and cancellation are not allowed.
Q37. For HKEX, what is an at-auction order?
An at-auction order is an order with no specified price and is entered into the system for execution at the securities’ closing price determined in the CAS. It enjoys a higher order matching priority than an at-auction limit order and will be matched in time priority at the closing price in the CAS.
Q38. For HKEX, what is an at-auction limit order?
An at-auction limit order is an order with a specified price. An at-auction limit order with a specified price at, or more competitive than, the closing price may be matched at the closing price. An at-auction limit order may be matched in price and time priority at the closing price. No at-auction limit order will be matched at a price worse than its specified price.
Q39. What securities are covered under CAS for HKEX?
The CAS will be rolled out in two phases, with the list of securities further expanded in Phase 2.
Phase 1 (to launch on 25 July 2016) will include all Hang Seng Composite LargeCap and MidCap index constituent stocks, H shares which have corresponding A shares listed on the exchanges in Mainland China and all ETFs. Subject to a review of Phase 1, Phase 2 will tentatively include all equity securities and funds.
Q40. Is short selling allowed during the CAS for HKEX?
To allow the market to be familiar with the new CAS, short selling will not be implemented in the Phase 1 of the CAS. Hence, input of new short selling order during the CAS will not be allowed during the Phase 1 of the CAS.
However, it should be noted that outstanding short selling orders, which are input during the Continuous Trading Session CTS) and with order prices higher than or equal to the lower price limit (i.e. order price >=95% of reference price), will be automatically carried forward to the CAS. All these orders will be treated as at-auction limit orders.
On the other hand, if the outstanding short selling orders input during the CTS have a price lower than the lower limit (i.e. order price < 95% of reference price), they will be cancelled and a message for order cancellation will be sent out by the system. For the short selling orders carried forward to the CAS, you are allowed to cancel and reduce the quantity of the orders during the CAS. In such cases the original order priority will be maintained. However, change of order price or increase of quantity of these orders during the CAS will not be allowed.
Q41. Where can I find out more about CAS for HKEX?
You can refer to http://www.hkex.com.hk/cas/en/index.htm for more information on CAS.
Q42. How does Volatility Control Mechanism (VCM) work for HKEX's securities market?
The Volatility Control Mechanism (VCM) is designed to prevent extreme price volatility from trading incidents such as a “flash crash” and algorithm errors, and to address systemic risks from the inter-connectedness of securities and derivatives markets.
In the case of HKEX’s securities market VCM, if the price of a stock deviates more than 10% within five minutes, it will trigger a cooling-off period for five minutes. This provides a window allowing market participants to reassess their strategies, if necessary. It also helps to re-establish an orderly market during volatile market situations. Trading can still be carried out within the price limit during the cooling-off period.
Q43. What securities are covered by VCM for HKEX?
In the securities market, the VCM will cover Hang Seng Index (HSI) and Hang Seng China Enterprise Index (HSCEI) constituent stocks (as of 31 May 2016 there were 81 such stocks listed on the HKEX).
Q44. What is the applicable period for HKEX's VCM?
VCM is applicable during the continuous trading session (CTS), excluding:
• the first 15 minutes of the morning and afternoon trading session
• the last 15 minutes of the afternoon trading session
There can only be one cooling-off period in the morning session and one in the afternoon session for a stock within a day.
Q45. Where can I find out more about HKEX's VCM?
You can refer to http://www.hkex.com.hk/vcm/en/index.htm for more information on VCM.