If you’re trading Hong Kong stocks through Tiger Brokers’ trading app, it’s essential to understand the At-auction Limit Session. This session plays a significant role in setting the price of stocks before continuous trading begins. Here’s what you need to know about the At-auction Limit Session and how it impacts your trades.
What is the At-auction Limit Session?
The At-auction Limit Session is a specific period before the continuous trading hours of the Hong Kong Stock Exchange (HKEX). During this session, traders can enter and amend limit orders (orders specifying the price at which you’re willing to buy or sell a stock). This session helps establish the opening price for stocks on the exchange.
At-auction Limit Session Timings
The At-auction Limit Session operates within a precise timeframe. Here’s a breakdown of the timings:
HKT 9:00am-9:15am: You can enter and amend your At-auction limit orders.
HKT 9:15am-9:20am: At this point, any At-auction limit orders entered will be automatically cancelled by 9:30am.
HKT 9:20am: The HKEX processes all At-auction limit orders.
HKT 9:30am: Any pending At-auction limit orders that were not cancelled will continue to be listed on the HKEX for continuous trading.
Key Points to Remember About the At-auction Limit Session
Amendments and Cancellations: If you amend your At-auction limit orders during the session, they may be automatically cancelled, depending on whether the amended order is accepted by HKEX.
Extension of Orders: Some At-auction limit orders placed during the pre-opening session will automatically be extended to the continuous trading period.
Automatic Cancellations: Any unfilled orders that have not been processed by the HKEX by 9:30am will be automatically cancelled.
Why Is the At-auction Limit Session Important?
The At-auction Limit Session helps establish a fair opening price for stocks based on the orders placed by investors. By placing limit orders during this session, you can potentially secure better pricing for your trades. The session also plays a critical role in ensuring that there is enough liquidity in the market before trading commences in the continuous trading period.
How to Place At-auction Limit Orders on Tiger Trade
To place an At-auction limit order on the Tiger Brokers trading app, follow these steps:
Open the Tiger Trade app and log in to your account.
Search for the HK stock you wish to trade.
Select “At-auction Limit Order” as your order type.
Set the price and quantity you wish to trade.
Review the details and place your order.
Your At-auction limit orders will be processed based on the HKEX rules and timings.
Conclusion
Understanding the At-auction Limit Session is crucial when trading Hong Kong stocks on the Tiger Brokers app, Tiger Trade. By knowing the specific timings and rules of the session, you can optimize your order placement to get the best possible price for your trades. Always ensure you place your orders correctly and be mindful of the time limits and automatic cancellations. With this knowledge, you can make more informed trading decisions when participating in the HKEX market through Tiger Brokers.
