US Markets - Trading Rules
US Exchanges
You can trade stocks which are listed on NYSE, AMEX and NASDAQ.
Trading Hours
From Mondays to Fridays (except US Public holidays):
| Summer Time (2nd Sunday of March to 1st Sunday of November) |
HKT 9:30pm - 4:00am |
| Winter Time (1st Sunday of November to 2nd Sunday of March) |
HKT 10:30pm - 5:00am |
Remark: Does not support Pre-Market and After Hours Market on trading platforms.
Order submission
Order submission is not available on the US trading platform during the following periods:
| Summer Time | HKT 4:00am - 4:30am on trading days; HKT 4:00am (Sat) - 4:00am (Mon); & US public holidays |
| Winter Time | HKT 5:00am - 5:30am on trading days; HKT 5:00am (Sat) - 5:00am (Mon); & US public holidays |
Settlement period
The settlement period is the trade date plus two US business days (T+2).
Order
| Items | Description |
|---|---|
| Board lot size for US stocks | There is no board lot size for US Stocks. Investors can trade at a minimum of 1 share per order. |
| Quantity limit | 50,000 shares per order to prevent fat-finger errors |
| Short-sell US stocks | Not allowed via UTRADE Web |
Order Execution within the day high/ low range
In the fast-moving market, the time of input order could have possibly coincided with the time when the day's high/ low was reached and the price was never hit again. Therefore, the market order may not be executed successfully.
The price feed provided from trading system/ information vendors is the prices for all exchanges. In addition, orders placed on UTRADE are only directed to the three major exchanges ie. NYSE, NASDAQ and AMEX. In some rare circumstances, if Day's High/ Low is executed outside these three major exchanges, it may occur that the order price never reaches the Day's High / Low quoted, and hence the Market Order was not successfully executed.
Expired Order
Clients' orders will automatically lapse when they are not executed by the end of the trading day, and will have an 'expired' status. Clients will need to re-enter the order if they want to place it for the next trading day.
Order Amendment
For UTRADE HK APP, Stop Limit Order and Market Order cannot be modified. Users have to cancel and place the order again should there be an amendment.
For UTRADE Web, when the amendment of the order is lower than the number of shares, clients will not lose their position in the queue. If the order is larger than the number of shares, clients will lose their position in the queue and is required to re-queue again.