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Glossary
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Online Banking Help
Securities Trading
Securities Margin Trading
Securities Trading
1. After enrolling in the Online Securities Trading Services, can I still trade through other channel(s)?
You can still trade through Securities Trading Hotline at 2872 1313.
2. What are the benefits of using Online Securities Trading Services?
With China Construction Bank Macau Branch Online Securities Trading Services, you can:
- enjoy super low commission rate at 0.18% (min. HKD100)
- access to real time stock quotes (up to 4 stocks in a single screen), real time streaming price chart
- use the FastTrade service in which you can place your order right after you have checked the real-time stock quotes of your selected stock
- check your order status, transaction history and portfolio
- set up your own watch list
- receive email/SMS trade confirmation
- place your order easily anytime, anywhere with your PC
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3. How can I trade online?
You have to be a China Construction Bank Macau Branch Online Banking customer with a Securities Trading account. If you have not opened an account with us, simply visit any of our branches and sign up for our Online Banking service.
4. How do I place an order?
- choose order type
- choose your Securities Trading account
- select buy/sell
- enter stock code, price and quantity
- choose expiry date
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5. Does the Bank accept price orders that are different from current market prices?
Yes, you can input order prices within 20 spreads.
6. How do I know the Bank has received my order?
After the Bank has received your order, you will receive an order reference number. You can also check your order status in the "Order Status" section.
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7. How can I check the status of my order?
You can go to the "Order Status" or "Order History" pages to check the status of your order. "Order Status" page will show your daily order processing and execution status of the order submitted for the day. You are allowed to cancel the order while the order status is still in queue, received or partially executed. After the market closes, you can also go to the "Order History" page to check the final status of your order.
Please check the “Order Status” page from time to time for the latest execution result of the orders. For the explanation of the Order Status, please click here.
8. Can I amend or cancel my order?
Yes. You can amend or cancel the day order of Enhanced Limit Order, Special Limit Order and Limit Order when the order status is "Queued", "Received" or "Partially Executed". The order status will be shown in the "Order Status" section. For Stop Loss Order, customer can cancel the order only. For Market Order, any amendment or cancellation is not allowed.
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9. How am I notified of the execution results?
You will be notified of the execution results via email and/or SMS if you have subscribed for our Stock Order Confirmation eAlert service and provided your email address and/or mobile phone number in "Maintain My Details". You can also check your order status in "Order Status" or "Portfolio" section.
10. How can I keep track of the stock?
The Stock Watch function allows you to input the stocks you are interested in and will show information such as nominal, change, change %, volume and P/E ratio for each stock you entered. You can also input the target price for profit taking and stop loss in order to assist your investment decision.
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11. Is the Bank's Securities system ready for AMS/3 and what are the benefits of this new system?
Yes, the Bank's Online Securities Trading system does support AMS/3, through which you can enjoy the fast and efficient electronic straight-through order processing.
12. What is "All-or-Nothing"?
All-or-Nothing binds your order to be either executed immediately in full or rejected. If you select "Yes", your order will only be executed when both the market price and the available quantity of the stock match your order details; otherwise, your order will be rejected. The default setting is "No".
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13. What is "Enhanced Limit Order"?
Enhanced Limit Order allows your order matching up to 10 price queues, where the price of the trade generated is at or better than the limit price. Unfilled orders after matching will be converted to limit orders at the input limit price. The default setting is "Enhanced Limit Order".
14. What is "Special Limit Order"?
A Special Limit Order is similar to a market order which matches up to 10 price queues (i.e. the best price queue and the next queue at one spread away) as long as the traded price is not worse than the input limit price. Any unfilled quantity of a Special Limit Order after matching will be cancelled by AMS/3.
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15. What is "At Auction Limit Order"?
It is a limit order with a specified price for single price auction during pre-market opening session. Unfilled at-auction limit orders in pre-market opening session, with input price not deviating 9 times or more from the prevailing nominal price, will be converted to limit orders at the input limit price and carried forward to the continuous trading session. The stock market acceptable order input period for At-Auction Limit orders is 9:00 a.m. - 9:15a.m. during pre-market opening session.
16.What is "Stop Loss Order"?
Stop Loss Order can help you to sell securities at a preset selling price range determined by you. Once the prevailing market price hits or becomes lower than your pre-defined Stop-Loss Price, your sell order will be placed at the prevailing market price, and the executed price (if the order is executed) will not be lower than the Lowest Selling Price set by you.
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17. What is Stop Loss Price?
It is the selling price of a stock specified by you and must be set below the nominal price. Stop Loss Order will be triggered and placed to the market once Stop Loss Price is reached.
18. What is Lowest Selling Price?
It is the lowest selling price (which must be a price lower than the relevant Stop Loss Price) specified by you to sell your specified stock.
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19. When will a Stop Loss Order be triggered?
If the nominal price (as defined by the rules of the SEHK) of the relevant stock is equal to or lower than the specified Stop Loss Price on the relevant trading day, the Stop Loss Order will be triggered. A Stop Loss Order may then be fully executed, partially executed or unexecuted (in one tranche or a number of tranches) at a price not lower than the Lowest Selling Price (but could be at a price higher than the Stop Loss Price) on the relevant trading day. For Stop Loss Order which is valid for 1 day, regardless of the final execution result (partially executed or unexecuted) at the end of a trading day, the Stop Loss Order will lapse and be cancelled at the end of that trading day.
<Example>
Stop Loss Order is triggered and sent to the market at the prevailing marketing price when the nominal price drops to or lower than HKD2.35)
If the order cannot be executed at HKD2.10 or above due to market condition, the Stop Loss Order will be changed into normal Limit Order at HKD2.10 for queuing. The selling price will not be lower than the Lowest Selling Price set by customer.
Regardless of the final execution result (partially executed or unexecuted) at the end of a trading day, the Stop Loss Order will lapse and be cancelled at the end of that trading day.
20. Can I place a multiple-day Stop Loss Order?
Yes, you can place a Stop Loss Order which remains valid up to 14 calendar days.
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21. When will a Stop Loss Order be carried over to next trading day?
When you pre-set Good-till-date Instruction for a Stop Loss Order and the Stop Loss Order is not triggered or cancelled, it will be automatically carried over to the next trading day ntil it is triggered or cancelled or expired.
22. When will a multiple-day Stop Loss Order be cancelled?
When the multiple-day Stop Loss Order has been triggered (no matter it has not been executed or has been fully or partially executed), it will be lapsed and will not be carried over to the next trading day.
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23. Can I place a Stop Loss Order during non-trading hour?
Yes, you can place a Stop Loss Order round-the-clock through Online Banking or during the opening hour of Securities Trading Hotline. If the Stop Loss Order is placed outside trading hours, the order will be treated as an instruction given to the Bank on the next relevant trading session.
24. Can I specify "All-or-Nothing" for a Stop Loss Order?
No, the default setting of "All-or-Nothing" is "No".
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25. Can I amend my Stop Loss Order?
No, you must cancel the order first and place a new order.
26. What is "Market Order"?
It is an instruction given by you to the Bank to sell or buy a specific stock at a current market price.
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27. Can I place a Market Order during non-trading hour?
No, you can only place a Market Order during trading hours (excluding pre-opening session).
28. Can I cancel or amend or cancel my Market Order?
No, market Order will be sent to HKEX immediately after your market order is placed.
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29. Can my market order be successfully executed?
No, market conditions may make it impossible to execute a Market Order. The order will be rejected when it cannot be executed within 10 spreads from nominal price.
30. What is "Good-till-date" Instruction?
"Good-till-date" Instruction enables you to place an instruction to buy or sell stock and the instruction will remain valid up to 14 calendar days.
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31. Is "Good-till-date" Instruction available for any order types?
No. Good-till-date instruction is only available for Stop Loss Order, Enhanced Limit Order and Limit Order.
32. Will my order be valid if there is any corporate action of the company?
Any corporate action (including but without limitation to stock split or consolidation) that will impact your original instruction (including but without limitation to the price and quantity), the relevant buy/sell order may be cancelled. If the trading of the relevant stock is suspended during trading hours, the Good-till-date instruction not yet executed will be rejected before the end of Pre-market Opening Session of the next trading day. The Bank may try to send the order cancellation notification to you via email and/or SMS provided that you have given your email address and/or mobile number to the Bank. You should keep watching for any corporate action related to your stock for which you have placed order.
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33. Can I sell the stocks I have bought before its settlement?
Yes.
34. Can I use the funds from selling a stock to buy a new stock before its settlement?
Yes.
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35. What is total purchasing power?
Total purchasing power refers to aggregate of the available cash balance and net proceeds of unsettled purchase and sale orders (for cash trading customers) or available cash balance including available overdraft facilities and net proceeds of unsettled purchase and sale orders and available cash in the secondary settlement account linked to the Margin Trading Account (for margin trading customers).
36. Will the transaction I perform today be reflected in my portfolio?
Yes, once your order is executed, cancelled or rejected, the transaction you performed will be reflected in your portfolio. Partially executed orders will be reflected after the market is closed.
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37. Is the service available 24 hours a day?
Yes. You can place orders, view stock quotes, day orders, view order history and transaction history anytime. You can also view stock portfolio and personalized stock watchlists anytime you want.
38. What is Streaming Quote?
Streaming Quote is a chargeable stock quote service, you must open our Securities Trading account,Online Banking Service and apply for this service at our Branches. Then, you can receive real time stock quotes automatically with your computer. The following are the plan and fee of Streaming Quote:
| QuoteWinner + AAStocks Financial News | HKD380 per month |
| QuoteWinner + AAStocks Financial News + DJ News | HKD400 per month |
| QuoteWinner + AAStocks Financial News + DJ News (Real-time) | HKD460 per month |
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39. What is Research Report?
Research Report on securities trading is provided by CCB International, which includes the latest market updates, company analyses and industry reviews. Customers have to sign in Online Banking to access the information.
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40. What are Personalized Latest News and Research Reports?
Upon your logon to Online Banking, Personalized Latest News and Research Reports on My Home will bring you the related latest market information based on your Portfolio and Watch Lists of the previous day. If you do not have any securities holdings or do not have any stocks maintained in your watch list, general Latest News and Research Reports will be displayed.
Customers may also subscribe our Latest News and Research Reports eAlert service to receive related market information via email, free of charge.
These services are available for securities trading customers only.
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Securities Margin Trading
41. What is the difference between cash trading and margin trading?
You have to prepare full amount of the transaction consideration of the stock you plan to purchase under cash trading service. However, through margin trading service, you only have to pay a portion of the purchasing transaction consideration as the cash margin. This will enhance your capital capacity to maximize the potential return of your investments.
42. How does the leverage work for the margin trading?
If you plan to buy 1,000 shares of Stock A at HKD50 per share, the total transaction consideration will be HKD50,000. Given the margin ratio of Stock A is 60%, you only need to pay HKD20,000 out of the purchasing. (Fees, levies and other translation costs are not included in the above example for simplicity. Please note that you still have to pay the full amount of these fees, levies and other translation costs under margin trading arrangement).
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43. How can I calculate the cash margin?
You can calculate the cash margin according to the margin ratio set out in the List of Qualifying Securities. We offer margin ratio of 20% to 70% for selected stocks.
44. Can I purchase stocks without utilizing the overdraft in my Securities Margin Trading Account?
Yes. You can continue to pay the purchase considerations in full cash.
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45. If I deposit more cash than it is required for my cash margin, can I utilize the unused overdraft for the subsequent purchases in the future?
Yes.
46. Are there any differences on Margin Trading Account before and after the system upgrade in terms of cash deposit, account number, interest bearing and margin fund transfer?
There is no change in account number and interest bearing. The differences are as follows:
- The margin account will also be used as the primary settlement account. If there is insufficient fund in the margin account, the cash account as the secondary settlement will be debited for the fund shortage.
- Any surplus of cash in the margin account (usually gained from selling stocks) will not be transferred back to the cash account automatically. You will have to transfer the fund via our Margin Transfer function.
- The margin facility is maintained under the margin account instead of the cash account (initially as an overdraft facility).
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47. Can I open both cash trading account and margin trading account at the same time? If so, can I use the same settlement account for both?
Yes.
48. What are the ways to withdraw cash from the margin trading account?
You may use the following ways:
- Perform Margin transfer via Online Banking, which operates from 8:00 a.m. to 8:00 p.m. from Monday to Friday (except bank holidays);
- Call our securities service hotline at 2872 1313 from 9:00 a.m. to 4:15 p.m. from Monday to Friday (except bank holidays)
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49. Can I see margin fund transfer transactions on my portfolio statement?
Yes.
50. Will there be automatic funds transfer from settlement account to margin account if there is insufficient fund. If so, under what condition will it happen?
Yes, it will happen when there is insufficient fund for initial margin upon buy order (i.e. the sum of margin value of stocks and cash in margin account is less than the purchase amount).
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