Hong Kong Stock Order Type
Type of order validity
Type | Meaning / Effect |
Today | Rest of day (default). It means unmatched orders will remain in the central order book until the market close of the day. |
FAK | Fill and Kill. It means that the order is to be matched, immediately after submission, as much as possible, up to quantity specified in the Qty field and the remaining unmatched portion, if any, of the order will be canceled automatically by the system at once. |
FOK | Fill or Kill. It means that the order is to be matched, immediately after submission, at the exact quantity specified in the Qty field or else it will be canceled automatically by the system at once. |
GTC | Until Expiry. It means that unmatched orders will remain in the central order book until the market close of the expiration day of the product.
Unmatched orders without expiry date will be valid until trader’s further instruction. |
Date | Specified Date. It means that unmatched orders will remain in the central order book until the market close of the business date specified in the Date field. |
AO | An auction order. An order that does not have a price limit assigned. An auction order is ready to be matched at the Calculated Opening Price (COP) during the Pre-market Opening Period.
At the end of the Pre-market Opening Period all unmatched auction orders will be converted to either limits orders or inactive orders. |
Order Type
⇨「Normal」
A limit order is placed at the "specified price" and will only be executed when the "specified price" or a "better price" is reached. However, if the market price of the underlying does not reach the specified price within the validity period of the order, the limit order will not be executed.
⇨「Quick」
There are two types of quick orders: "price pursuing" and "price tracking", both of which require the setting of points and quantities.
"Pursue the price ": If the "Points" is 0, the best ask price will be used for buying, and the best bid price will be used for selling. If the "Points" is 1, the buy price will be placed in the market at the price of "Best ask price + 1 x minimum price spread ", otherwise, the sell price will be placed at the price of "Best bid price - 1 x minimum price spread" in the market.
"Track the price": If the "Points" is 0, the best bid price will be used for buying, and the best ask price will be used for selling. If the "Point" is 1, the buy price will be placed in the market at the price of "Best bid price – 1 x minimum price spread ", otherwise, the sell price will be placed at the price of "Best ask Price + 1 x minimum price spread "in the market.
⇨「Up trigger / Down trigger」
There are two types of trigger orders: "Rising Market Trigger" and "Falling Market Trigger". "Trigger Price" means that the conditional order starts to take effect at this price and the order is placed in the market, and "Price" is the order that is actually placed in the market price.
"Up Trigger" means that when the price rises to the "Trigger price", the conditional order will trigger the order to be placed in the market.
"Down Trigger" means that when the price falls to the "Trigger Price", the conditional order will trigger the placing of an order in the market.
"Down Trigger" means that when the price falls to the "Trigger Price", the conditional order will trigger the placing of an order in the market.
⇨「Stop Limit/Stop」
A stop-loss order is a limit order that sets a stop-loss level: a limit order to buy or sell is submitted when the market price reaches the "stop-loss price" specified by the user.
"Stop Loss Price" trigger level for stop loss orders.
"Stop Loss Pursuit" is the difference between the trigger price of the stop loss order and the sent market price. Its purpose is: when a stop loss order is placed in the market, the price may fluctuate. warehouse.
*If "Market Stop Loss" is checked, it is a market order: a buy or sell market order is submitted when the market price reaches the stop loss trigger price specified by the user. A stop market order does not guarantee a specific execution price and it is possible that the execution price is significantly different from the stop price set.
⇨「Trailing Stop」
It is an upgraded version of stop loss order. It means that a stop-loss price is sometimes entered, and the stop-loss price should be executed when the price is reached, but it may not be possible to complete the transaction due to rapid market price changes. By increasing the stop loss chase price (Toler) points, to ensure successful stop loss.
The trailing stop price will move with the market price, and by doing so, you can continuously reduce risk without missing out on opportunities to earn higher profits. Enter a "step" value to indicate how many pips each time the market price moves before the stop price will be moved.
⇨「OCO」
A two-way limit order is a combination of a limit order + a stop loss order. If one order is touched in the market, the other order will be automatically cancelled. You can use this type if you have open positions and you need to set up both take profit and stop loss.
⇨「Bull & Bear」
A bull &bear market order is a combination of a limit order and a two-way limit order. And you need to open a position at the same time, and use it when you stop profit / stop loss.
⇨「Time To Send」
Orders to buy and sell will be submitted to the market at predetermined times. This instruction time must be within the trading hours of the day.
Hong Kong Stock Order Type
Type of order validity
Type | Meaning / Effect |
Today | Rest of day (default). It means unmatched orders will remain in the central order book until the market close of the day. |
FAK | Fill and Kill. It means that the order is to be matched, immediately after submission, as much as possible, up to quantity specified in the Qty field and the remaining unmatched portion, if any, of the order will be canceled automatically by the system at once. |
FOK | Fill or Kill. It means that the order is to be matched, immediately after submission, at the exact quantity specified in the Qty field or else it will be canceled automatically by the system at once. |
GTC | Until Expiry. It means that unmatched orders will remain in the central order book until the market close of the expiration day of the product. |
Date | Specified Date. It means that unmatched orders will remain in the central order book until the market close of the business date specified in the Date field. |
AO | An auction order. An order that does not have a price limit assigned. An auction order is ready to be matched at the Calculated Opening Price (COP) during the Pre-market Opening Period. |
Order Type
⇨「Normal」
A limit order is placed at the "specified price" and will only be executed when the "specified price" or a "better price" is reached. However, if the market price of the underlying does not reach the specified price within the validity period of the order, the limit order will not be executed.
⇨「Quick」
There are two types of quick orders: "price pursuing" and "price tracking", both of which require the setting of points and quantities.
"Pursue the price ": If the "Points" is 0, the best ask price will be used for buying, and the best bid price will be used for selling. If the "Points" is 1, the buy price will be placed in the market at the price of "Best ask price + 1 x minimum price spread ", otherwise, the sell price will be placed at the price of "Best bid price - 1 x minimum price spread" in the market.
"Track the price": If the "Points" is 0, the best bid price will be used for buying, and the best ask price will be used for selling. If the "Point" is 1, the buy price will be placed in the market at the price of "Best bid price – 1 x minimum price spread ", otherwise, the sell price will be placed at the price of "Best ask Price + 1 x minimum price spread "in the market.
⇨「Up trigger / Down trigger」
There are two types of trigger orders: "Rising Market Trigger" and "Falling Market Trigger". "Trigger Price" means that the conditional order starts to take effect at this price and the order is placed in the market, and "Price" is the order that is actually placed in the market price.
"Up Trigger" means that when the price rises to the "Trigger price", the conditional order will trigger the order to be placed in the market.
"Down Trigger" means that when the price falls to the "Trigger Price", the conditional order will trigger the placing of an order in the market.
⇨「Stop Limit/Stop」
A stop-loss order is a limit order that sets a stop-loss level: a limit order to buy or sell is submitted when the market price reaches the "stop-loss price" specified by the user.
"Stop Loss Price" trigger level for stop loss orders."Stop Loss Pursuit" is the difference between the trigger price of the stop loss order and the sent market price. Its purpose is: when a stop loss order is placed in the market, the price may fluctuate. warehouse.
*If "Market Stop Loss" is checked, it is a market order: a buy or sell market order is submitted when the market price reaches the stop loss trigger price specified by the user. A stop market order does not guarantee a specific execution price and it is possible that the execution price is significantly different from the stop price set.
"Stop Loss Price" trigger level for stop loss orders."Stop Loss Pursuit" is the difference between the trigger price of the stop loss order and the sent market price. Its purpose is: when a stop loss order is placed in the market, the price may fluctuate. warehouse.
*If "Market Stop Loss" is checked, it is a market order: a buy or sell market order is submitted when the market price reaches the stop loss trigger price specified by the user. A stop market order does not guarantee a specific execution price and it is possible that the execution price is significantly different from the stop price set.
⇨「追蹤止損（Trailing Stop）」
It is an upgraded version of stop loss order. It means that a stop-loss price is sometimes entered, and the stop-loss price should be executed when the price is reached, but it may not be possible to complete the transaction due to rapid market price changes. By increasing the stop loss chase price (Toler) points, to ensure successful stop loss.
The trailing stop price will move with the market price, and by doing so, you can continuously reduce risk without missing out on opportunities to earn higher profits. Enter a "step" value to indicate how many pips each time the market price moves before the stop price will be moved.
⇨「OCO」
A two-way limit order is a combination of a limit order + a stop loss order. If one order is touched in the market, the other order will be automatically cancelled. You can use this type if you have open positions and you need to set up both take profit and stop loss.
⇨「Bull & Bear」
。A bull &bear market order is a combination of a limit order and a two-way limit order. And you need to open a position at the same time, and use it when you stop profit / stop loss.
⇨「Time To Send」
Orders to buy and sell will be submitted to the market at predetermined times. This instruction time must be within the trading hours of the day.