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Introduction to client standing authorization

 

1. What is Client Standing Authorization?

 

Standing authorization is required by all securities in Hong Kong to ensure the proper settlement of client funds and securities. Common examples of using authorization are as follows:

 

1When you buy stocks, authorize us to deliver the money from your account to the seller at the time of settlement;

 

2When you sell stocks, authorize us to deliver the stocks from your account to the buyer at the time of settlement;

 

3When you buy or sell US stocks, authorize us to transfer money to a US account for trading purposes, or transfer money from a US account to your account after settlement;

 

4If you are a margin client, when you need the margin service, authorize us to pledge shares to the banks of Hong Kong to obtain the amount of margin if necessary (not applicable to cash customers); If you sign an authority and your securities or securities collateral have been lent or deposited with a third party, the third party have a lien or charge on your securities or securities collateral. Although SOLOMON JFZ is liable to you for securities or securities collateral lent or deposited with you under your authority, any breach of its obligations may result in a loss to you of your securities or securities collateral. SOLOMON JFZ provides cash accounts that do not involve securities lending. If you do not require margin loans or do not wish your securities or securities collateral to be lent or secured, do not sign the above authorization, and please open a cash account as required.

 

 

2. Who is required to agree on the standing authorization?

 

All clients who open an account with SOLOMON JFZ need to confirm and agree on the relevant content of the standing authorization.

 

 

 

3. I have opened an account, have I confirmed to grant the standing authorization to SOLOMON JFZ when I open an account?

 

If you have opened an account, you have confirmed the standing authorization to SOLOMON JFZ when you confirm the account opening agreement. Please refer to Paragraph 4.4 of the Client Agreement for details. Since the standing authorization has an expiry date, an account holder may be required to renew the standing authorization.

 

 

4. What is the implication for me to grant the standing authorization?

 

No impact on the normal use of your current account, funds, transactions, and other services.

 

 

5. Can I disagree with standing authorization?

 

Yes, but standing authorization is required by SOLOMON JFZ in accordance with regulations to ensure the normal settlement of clients' funds and securities. If you choose not to confirm the standing authorization, we will no longer be able to provide services to you.

 

 

6. What is the duration of the standing authorization?

 

The duration of confirmation is one year. We will notify you of the renewal by email before the expiration of the one-year validity period. The latest version of standing authority can be viewed at Standing Authority (Client Money and Securities).

 

协议及声明

Introduction to client standing authorization

 

Except for public holidays and the market closure due to bad weather, the Hong Kong stock market generally trades from Monday to Friday. The trading hours are as follows:
 

1. Pre-open Period

Time period

Trading Rules

Enter order 9:00-9:15

Submit, modify, and cancel auction market orders and auction limit orders

Non-cancellable 9:15-9:20

Only at-auction market orders and at-auction limit orders can be submitted, and orders cannot be withdrawn or modified

Random match period 9:20-9:22 (match will start randomly at 9:20-9:22 at the final reference equilibrium price)

Conduct matchmaking during auction period

Pause period, from random match period ends to 9:30

At-auction order: Incomplete order will be cancelled by the system; At-auction limit order: If the input price range of an incomplete order does not deviate from the nominal price by nine times or more, it will be converted to a limit order and automatically transferred to the continuous trading session

 

2. Continuous Trading Hours

Time period

Beijing Time

Morning market

9:30-12:00

Closed at noon

12:00-13:00

Afternoon market

13:00-16:00

Note: Order modification is not allowed during the closed at noon, and cancellation is allowed during 12:30 - 13:00.

 

3. Closing Auction Trading Session

Time period

Trading Rules

Closing auction period 16:00-16:01      

Calculate and publish reference price; orders cannot be submitted

Enter order 16:01-16:06

You can submit, modify, and cancel at-auction market orders and auction limit orders. The price limit of auction limit orders shall not exceed ±5% of the reference price

Non-cancellable 16:06-16:08

At-auction market orders and at-auction limit orders can be submitted, and cannot be cancelled or changed; the input price of at-auction limit orders must be between the lowest selling price and the highest bidding price

Random closing 16:08-16:10

At random closing time, at-auction market orders and at-auction limit orders can still be submitted, and cannot be cancelled or changed; the input price of auction limit orders must be between the lowest selling price and the highest bidding price