Top Trader. User Manual. Copyright Reserved. Risk Disclosure

Transcription

1 Top Trader User Manual Copyright Reserved Risk Disclosure Investors should be aware that the transmission may be paused or stopped due to busy Internet connection, or the data transferred may be flawed due to public usage of the internet, when they trade online platform. Hence your trade orders delivered to the market by our online trading platform will be subject to the risk of delayed and incomplete execution, and fluctuation in prices between the actual execution and trade order input. We should process your trade order(s) as soon as possible in reasonable scenarios. However your trade orders may not be executed instantaneously due to reasons which include, but not limited to, fluctuation in prices, lack of liquidity in market, system failure and any other unexpected reason(s). Your order delivered may be completely executed, partially executed or completely not executed. The actual price(s) executed may be as same as, or better than, the price you input. However the price(s) will not be worse than your input. Investors should bear all risks associated to online trading. For any enquiries please contact our Customers Service at Chief Securities Ltd. Is an exchange and clearing house participant of Hong Kong Exchange Ltd. and Hong Kong Securities Clearing Company Ltd. respectively, and is a licensed corporation under Securities and Future Ordinance. 1

2 TOP Trader Installation Our clients can download the program in our company website. The program can be downloaded by clicking Top Trader in the following website: Please be aware that the program is compatible in Window 2000 or any versions later than that. The minimum resolution required is 1024 x 768. For the best performance please set the resolution to 1920 x System Requirement of Top Trader (Software Version) Java Java 6 (32-bit) or later ( OS MS Windows XP / Vista / 7 CPU RAM 2 GHz or more (or other compatibles) 1 GB or more Display Support 1024 x 768 or higher Browser MS IE 7.0 or later Login Please enter your logon ID, password and the verified code as show on the login screen below and click login afterwards. Logon ID: Please enter your stock account number which is in the format as P/M Password: It is the password which is included in the mail or delivered to you within 3 working days after your successful application of your stock account. It is a combination of 8 integers and/or alphabets. Verified Code: It is the 6-digits code displayed just below the space. If the display is not clear, you can renew the code by clicking. 2

3 1.1 Order Useful Functions is used to input your trade orders. The window can be accessed There are useful functions in Top Trader: Order, Order Book, Single Quote and Cash Balance. by clicking and then. Client can enter the details including symbol, price and quantity to be transacted. If you want to buy that stock, just click Buy and your purchase order will be sent for processing, vice versa. Symbol: Price: Quantity: Stock code of the instrument that you would trade. Ex. If you would trade HSBC, please enter 5 in that field. Stock price that you would like to trade your instrument. If you would trade at $55, please enter 55 in that field. Quantity of instrument that you would trade. Please be aware that it must be in exact lot. Otherwise your trade will be an odd-lot trade. You can sell your odd-lots only in this program. The price offered cannot deviate from the current price by 20%. Purchasing The amount available for purchase. Power: Instrument Balance: Max Buy: Max Sell: The value of the instrument in your stock account. The maximum quantity you can buy in Top Trader. The maximum quantity you can sell in Top Trader. For defining your trigger condition please refer to Introduction to Trigger Condition. Remark: 1. The button is used to lock the content in that field. 2. Purchase order using Auction Order (AO) is not available in this program. Please phone us to input your auction orders. 3. The maximum deviation in price from the current market price in your Auction Limit Orders (ALs) is 50 spreads in order input period (9:00 am 9:15 am) while that in your Enhanced Limit Orders (ELs) in the rest of trading hours (9-15 am 4:00pm) is 24 spreads. 4. The name of the instrument, reference price and lot size will be shown after the stock code is typed in. Please be aware of these information when you would like to modify your orders. 3

4 By clicking the Simple Buy Orders or Simple Sell Orders, you can trade easily. 5. The order will be held after clicking and will not be delivered to the market after you input your order. Please refer to section Simple Buy/Sell Orders Short-cut Keys There are some short-cut keys in Top Trader: 5. will input 5,000.. It will input 000 5k 5m in Quantity, i.e. pressing will input 5,000. will input 5,000,000. Short-cut Keys Remarks: K It will input 000 in Quantity, i.e. pressing M It will input 000,000 in Quantity, i.e. pressing / Press / will move back to the previous field. + or It will raise the Quantity by 1 lot size or the Price by 1 spread. - or It will reduce the Quantity by 1 lot size or the Price by 1 spread. 4

5 1.1.3 Order Types : There are 3 order types: Enhanced Limit Order (EL), Auction Order (AL) and Special Limit Order. Order Types: Auction Order (AO) Enhanced Limit Order (EL) Special Limit Order (SL) Enhanced Limit Order (EL) Input as an at-auction limit order with a specified price during 9:00 am 9:15 am. An at-auction limit order with a specified price at or more competitive than the final Indicative Equilibrium Price (IEP, in case of buying, the specified price is equal to or higher than the final IEP, or in case of selling, the specified price is equal to or lower than the final IEP) may be matched at the final IEP subject to availability of eligible matching order on the opposite side. An at-auction limit order will be matched in price and time priority at the final IEP. No at-auction limit order will be matched at a price worse than the final IEP. Any outstanding at-auction limit orders at the end of the Pre-opening Session will be carried forward to the Continuous Trading Session and treated as limit orders provided that the specified price of that at-auction limit order does not deviate 9 times or more from the nominal price. Such orders will be put in the price queue of the input price. At-auction Order (AO) An at-auction order is an order with no specified price and is entered into the AMS/3 for execution at the final Indicative Equilibrium Price (IEP). It enjoys a higher order matching priority than an at-auction limit order and will be matched in time priority at the final IEP. Any outstanding at-auction orders after the end of the Pre-opening Session will be cancelled before the commencement of the Continuous Trading Session. At-auction order (AO) can only be used to sell you stocks deposited.. Special Limit Order(SL) A special limit order will allow matching of up to 5 price queues (i.e. the best price queue and up to the 5th queue at 4 spreads away) at a time provided that the traded price is not worse than the input price. A special limit order has no restriction on the input price as long as the order input price is at or below the best bid price for a sell order or at or above the best ask price for a buy order. Any outstanding special limit order will be cancelled and will not be stored in the AMS/3. 5

6 Remarks: Orders input by our client before 4:00 pm will be for the whole day. Any non-transacted orders will be canceled after 4:00 pm. Orders input after 4:00. Orders input as enhanced limit order after 4:00 pm will be automatically delivered to the market as auction limit order at 9:00 am on the next trading day in chronological order. However please be aware that we will perform trade settlement process from 4:00 pm to 8:00 pm. Any orders input during the process will not be delivered to the market on the next trading day. *Auction Orders and odd-lot orders will be delivered in the same order type as stated. If you would like to deliver enhanced limit orders please input your orders after 9:15 am. HELD Order: By clicking the HELD button, your orders will be held and will not be delivered to the market automatically. For details please refer to session Deliver Held Order in Order Enquiry. Please be aware that you could hold your orders in pre-opening session and continuous trading session (from 9:00 am 4:00 pm). If an order is held at any time other than the previous period, it will be delivered to the market at bout 9:00 am on the next trading day Defining The Trigger Condition: Condition And Expiry Condition can be defined by our clients in order to deliver their orders to the market once the condition is met. The conditions which can be defined include Trigger Price and Expiry. Both conditions can be defined together and can be cancelled before their transactions. This will define how the order be triggered by the price. This will define if the order can be triggered in pre-opening hour. 6 This will define the expiry date of your order. The longest expiry period is 14 days.

7 # Please be aware that if order is allowed to be triggered in pre-opening hour, the order will be triggered by nominal price in pre-opening hour. Condition The order will be delivered to the market once the nominal price reaches the triggered price (you can choose if the order can be triggered in pre-opening hour). If you define both the Trigger Price and Expiry, the order will be delivered to the market once the triggered price is reached AND the triggered order will be delivered to the market everyday till the expiry or transacted by expiry. Expiry If the expiry is defined, the order will be delivered to the market everyday till expiry (with the expiry date inclusive). " The longest expiry period is 14 consecutive days (including non-trading day. However your order will not be delivered on non-trading days) Conditional orders (with trigger price and expiry) can have its price and quantity be modified by clients on their own. However the trigger price and the expiry cannot be modified directly. To change the trigger price and the expiry the original order must be deleted and the new trigger price and expiry must be entered in a new order. Clients may cancel their conditional orders by phone calls but they cannot modify the trigger price and expiry. Remarks: 1. The remaining share(s) of any partially-transacted conditional order(s) with expiry date(s) will be queued in the market to be purchased or sold till the order(s) is expired or completely transacted. 2. The expiry date(s) will be canceled once the corresponding conditional order(s) is cancelled because of any reasons (ex. Problem(s) in the price(s), suspended trading of the stock(s), and insufficient deposit of the clients or cancel by clients), etc, i.e. the order will not be delivered to the market anymore. 3. All conditional orders will have clients cash deposit (in case of purchase order) or stock position (in case of sale order) deducted in advance. In case of insufficient cash deposit or stock position, the order(s) will not be delivered to the market and will be canceled afterwards. 4. Orders that are expected to be delivered to the market or conditional orders that are expected to be effective on the next trading day should be input to our system after our routine system maintenance (after 8:00 pm). 5. Clients should be aware that their order(s) can be canceled because of pricing problems, ex different pricing limits in different order types and the maximum deviation from the nominal price during the market hour. Clients should refer to the corresponding risk disclosure before inputting conditional orders. 7

8 1.2 Order Book The status of the inputted orders today can be checked on the Order Book window. The window may be accessed by click the above button. Common status of orders: Delivered and being queuing in the market The order cannot be modified and the original order is maintained. The order is inputted in the system but is not yet delivered to the market (ex. Before 9:00 am and lunch hour 12:00:01 pm 1:29:59 pm). The order is transacted with a single price. The order is transacted with more than one price. The transaction prices can be accessed by clicking details. The order is partially transacted. The order is cancelled by the client or by HKEx. When our clients change their prices in their orders for immediate transaction and the bid-ask prices change at the same time, the order(s) will be canceled by HKEx. Please be aware of this risk when you modify your trade orders. Held Orders (The order(s) has been inputted to the system but not been delivered to the market yet). The order(s) has been rejected. Probable reasons include insufficient cash deposit to purchase or inadequate position to sell. There are 7 options in Order Book : Refresh, Details, Release, Cancel, Hidden and Sum. This can refresh the order book to update the current trade orders queuing in the market. This can show the details of the order(s), including the history of transaction and modification, as well as the breakdown of fees incurred. If the order is rejected, the reason(s) can be checked by this function. This will deliver the held order(s) to the market. This will cancel the order(s) queuing in the market immediately in the market hour. Notice that if the order(s) is canceled within 09:15:00 am -09:29:59 am and/or 12:00:00 pm 12:59:59 pm, 8

9 the cancellation will be effective after the market begins or resumes respectively. This can modify the price and/or reduce(but not increase) the quantity of the queuing order(s). Remarks: The new price of a purchase order after modification must not exceed the current ask price (or be less than the current bid price, in case of sale order). Otherwise HKEx will cancel the order after the modification. If the order is modified during the market close in lunch time, the modification will be effective after the market resumes at 01:30:00 pm. However cancelation during the same time period will be effective at 01:00:00 pm. It is advised to cancel the original order and input the new order when our client(s) would like to modify their orders at that time. This can prevent their orders from being transacted prior to the modification(s). This can hide any fully transacted, cancelled or rejected orders from their order book. This can sum up the costs and proceeds from the trade(s) of each instrument transacted on that trading day(excluding trading costs, such as commission). Hence it would provide a rough estimates on the profit and loss on that day. 1.3 Single Quote Single Quote allows our clients to check the price of instrument. There are 2 types of quotation: real-time quote and delayed time quote. Real-time quote: It is being consistently and automatically updated with current market prices. It requires a monthly subscription. There are 3 quotation suppliers available, including AAstocks, ETNets and Megahub. For the monthly fees and any discount package please contact our Customers Services at Delayed time quote: It is a free service but the delay between the quote and the market price will be at least 15 minutes 1.4 Integrated Balance Integrated Balance allows our clients to check the ledger balance, purchase power and the balance available to withdrawal. This can be accessed by clicking the button above the toolbar. 9

10 Market Value : Market value of the client s position(s). Marginable Asset : Value of margin calculated from the market value of the client s position(s). Margin Limit : Limit on deficit allowed in margin accounts. The actual maximum deficit allowed in margin accounts is the less amount of marginable asset and margin limit. Margin Call : Value required to top up the margin account. Ledger : Cash balance after deducting the value of queuing purchase order(s) and the value of transacted orders. Buying Power : Value available for purchasing instrument(s). Cash I/O : Cash deposit or withdrawal on that trading day Interest M.T.D. : Interest on-hand 1.5 Instrument Balance Instrument Balance will display your positions in your account. All position in that stock will be copied to a Simple Sell Order window by clicking this box. 10

11 1.6 Transaction History Transaction History allows our client to check their trading, cash and instruments transfer records in the recent 3-months period. You can search your records with different exchange, type, starting date and ending dates. Click to show the records. You can search your records with specific descriptions. Transaction Types: Trade Trading record Cash Voucher Cash transfer records or administration fees Instrument Voucher Exercising rights issued or receiving stock dividend Others Other records *You can leave Transaction Type as blanked to view all records. 11

12 1.7 Cash Voucher Online Transfer Timeslot Deposit: 00:00 am to 04:00 pm Withdrawal: 00:00 am to 01:00 pm Our clients can choose Deposit or Withdrawal on Cash Voucher. Remarks: 1. It is advised to maintain your transfer record for at least 3 months in order to resolve any disputes regarding to deposit transfer. 2. The deposit/withdrawal orders can be processed by our trading platform in the stated time period above. If you would like to deposit or withdraw at any time other than above, please kindly contact our hotline ( ) or the branch which you opened your account in. 2. Web-based Trading Platform Our web-based trading platform can be accessed by clicking Securities, HK Stocks and then Web-based Trading Platform in the web menu bar. Both the login name and password are as same as those for of trading software. 3. Mobile Trader Mobile Trader can be accessed by browsing with cellphone. Both the login name and password are as same as those of your trading software. The website of Mobile Trader is stated as below: m.chiefgroup.com 12

13 4. Chief FM(AA) iphone App Chief FM(AA) iphone App is developed by us with AAstocks for our clients using Top Trader. It supports ordinary trading functions, as well as additional functions like Held Order, Conditional Orders, Expiry Date and Deposit/Withdrawal Order. Furthermore we integrate the app with services provided by AAstocks. By using this software you can easily access the updated market information. This app can be freely downloaded by searching Chief FM(AA) in app store. *Chief FM(AA) can only be accessed by clients using Top Trader. #Chief FM(AA) can support QuoteWinner only. It does not support AAstock 2007 and AAstock 2007(China). **** End **** 13