FuturesFAQs - Trading Futures
FAQs - Trading Futures

FAQs

How to use and FAQs


If your question is not answered here, please feel free to contact our Customer Service Hotline at (852) 2255 8888 or email us.

Hong Kong Futures Products

    Order Types
  1. An order to buy a specified product at or below a specified price, or to sell at or above a specified price.
    • Buy Order
      When market price is equal to or more than the stop loss price, your buy order will be sent to market.
    • Sell Order
      When market price is equal to or less than the stop loss price, your sell orders will be sent to market.
  2. An order that does not have a price limit assigned and is ready to be matched at the Calculated Opening Price (COP) during the Pre-market Opening Period.
  3. Fill or Kill means that the order is to be matched, immediately after submission, at the exact quantity specified in the quantity field or else it will be cancelled automatically by the system at once.
  4. Fill and Kill means that the order is to be matched, immediately after submission, as much as possible, up to quantity specified in the quantity field and the remaining unmatched portion, if any, will be cancelled automatically by the system at once.
  5. Trading
  6. There are several reasons that you fail to place an order:
    • Password has expired. Our system requires clients to change their passwords regularly to ensure security. If password expired, you need to change a new password in the futures trading system.
    • Not enough purchasing power. System will hold required margin amount for all order placing request including stop orders that are not triggered no matter they have been executed or not for credit control. You can cancel some of the not-yet-executed orders request to release hold margin or increase the cash balance in your account.
    • Exceed the trading limit. There is an assigned trading limit for each online futures trading account as the maximum margin for open position. It is for credit control purpose. If your account has enough purchasing power but your order request exceeds the trading limit, it will be rejected. If you would like to adjust your trading limit amount, please contact us by phone or by email.
    • System problem on exchange or broker side. If you encounter any system problems, please contact us for further details.
  7. Once the order is placed, the order details will be displayed on 'order book'. If you want to change the order, please press the 'pencil' pattern on the left hand side of the order record, change the order details and then click 'OK' button to proceed. If you want to cancel the order, please press the 'cross' pattern on the left hand side of the order record and then click 'OK' button to proceed.
  8. As the market may fluctuate quickly, your limit order or stop order may be executed in a short time and not able to be cancelled.
  9. Once the order is executed, the order status shown in order record will be changed from 'Queuing' to "Complete" and the execution price and quantity will be displayed in the order record as well. Besides, we will send the trade confirmation to you by email.
  10. You may contact us to confirm the orders status or cancel the orders.
  11. There are regulations by HKEX on order placing of HSI, MHI, HHI and MCH futures during the pre-opening session (8:45am-9:15am and 12:30pm-1:00pm).

    • During the pre-opening periods of 8:45am-9:11am and 12:30pm-12:56pm, the exchange accepts any adding, changing or deleting of auction orders or limit orders.
    • During the pre-opening periods of 9:11am-9:13am and 12:56pm-12:58pm, the exchange accepts placing of AO orders only. No modifications or cancellation of orders are allowed.
    • During the pre-opening periods of 9:13am-9:15am and 12:58pm-1:00pm, no modifications or cancellation of active auction orders or limit orders are allowed.

    The following table displays the actions that can be done during the trading day.
    "" indicates the actions that can be performed at a particular time period.

    Limit Auction Change order Delete order
    08:45am - 09:11am
    Limit
    Auction
    Change order
    Delete order
    09:11am - 09:13am
    Limit
    Auction
    Change order
    Delete order
    09:13am - 09:15am
    Limit
    Auction
    Change order
    Delete order
    09:15am - 12:00pm
    Limit, Auction, Change order, Delete order
    Morning Market Open Session
    PS:No AO orders are allowed
    12:30pm - 12:56pm
    Limit
    Auction
    Change order
    Delete order
    12:56pm - 12:58pm
    Limit
    Auction
    Change order
    Delete order
    12:58pm - 01:00pm
    Limit
    Auction
    Change order
    Delete order
    01:00pm - 04:30pm
    Limit, Auction, Change order, Delete order
    Afternoon Market Open Session
    PS:No AO orders are allowed
  12. All the order instructions for local futures trading are valid in both Day trading session (T session) and After-hours trading session (T+1 session), that is, they are valid until the close of After-hours trading session (T+1 session).
  13. Yes. HKEX has set the percentage for the price limit up/down at 5% in the After-Hours Trading Session(T+1).
  14. It means no sell order of price below 95% and no buy order of price above 105% of the last traded price of the spot month contract in the T Session will be allowed. Trading (for all contract months) will be allowed only within the price limit range during the T+1 session. Moreover, trading in the T session will not be subject to this price limit up/down mechanism.

    For example: Price Limit (For HSI Futures, MHI Futures, HHI Futures & MCH Futures trading in T+1 Session only)

    Last traded price in T session
    20,000
    Buy limit
    21,000
    Sell Limit
    19,000

    You cannot place buy order above 21,000 or sell order below 19,000 for all contract months.
  15. For those positions which are opened and closed in T+1 session in previous day or in T session in current day, or they are opened and closed within the same T session or within the same T+1 session.
  16. The trades of HK futures during After-Hours Futures Trading Session (T+1) will be presented on the daily statement of the following trading day.
    • a Hong Kong public holiday; or
    • a half-day trading in the HKEX's securities market; or
    • a bank holiday in both the UK and United States; or
    • a Typhoon Signal No.8 or above or a Black Rainstorm Warning is hoisted and is not lowered before 12:00 noon
  17. No. You can place order even if your futures account doesn’t have settlement currency. Any currency conversion will be done for you after your order is executed.
  18. Jan Feb Mar Apr May Jun
    F G H J K M

    Jul Aug Sep Oct Nov Dec
    N Q U V X Z
  19. Funds Management
  20. You need to deposit funds to our designated bank accounts and indicate your futures account number in the deposit notification. For details, please refer to "Funds Management" page of our website.
  21. You can transfer your funds from securities account to your futures account via the funds transfer webpage in securities account during designated hours. For details, please refer to "Funds Management" page of our website.
  22. You need to transfer the funds from futures account to your securities account first and then submit a withdrawal request in your securities account. For details, please refer to "Funds Management" page of our website.
  23. 'Initial Cash Balance' + 'Deposit' – 'Withdrawal' – 'Initial Margin' – 'Realized Loss' – 'Unrealized Loss' – 'Charges'
  24. If there is insufficient settlement currency to meet the margin requirement of open positions or there is a negative balance in foreign currency, we will arrange currencies conversion to cover the deficit currencies.

    When we perform the currencies conversion, MONEX BOOM will follow the "Currencies Conversion Sequence" of your securities account. MONEX BOOM will firstly sell the currencies at the top of the sequence, if exhausted, then move down to the next currency.

    To define the "Currencies Conversion Sequence", please login to your securities account, then go to the "Currencies Conversion Setting" under "Currencies Conversion" of the "Funds & Account" section.

  25. Close out & Settlement Mechanism
  26. The close out position sequence for holding more than one futures contract is as follows:
    • Intraday contract
    • The earliest opened contract
    • The contract opened on previous day
  27. The lasting trading date for HK index futures is two working days before month end. The settlement method is cash settled. The official settlement price is determined by HKEX, which is an average of index prices taken at five minute intervals over the last trading day. The final settlement price can be viewed on the HKEX website.
  28. For relative long positions, the close out deadline is either 3 trading days before the First Notice Day or Last Trading Day, whichever is earlier.

    For relative short positions, the close out deadline is 3 trading days before the Last Trading Day.

  29. First Notice Day is the first day, vary by contracts and exchanges, on which notices can be issued by sellers to clearing house and by the clearing house to the buyers indicating that sellers intend to deliver the physical commodities in fulfillment of their futures contracts.
  30. Last Trading Day is the final day under the rules of a futures exchange during which trading may take place in a particular futures contract. Contracts outstanding at the end of last trading day must be settled by delivery of underlying physical commodity, cash or financial instrument, depending futures contract specifications.
  31. No. MONEX BOOM does not provide "Physical delivery" services at the moment. If you do not close out the outstanding position before the close out deadline, MONEX BOOM will perform compulsory close out on the day after close out deadline.

Last Update: April 2019.

Global Futures Products

    Order Types
  1. An order to buy a specified product at or below a specified price, or to sell at or above a specified price.
    • Buy Order
      When market price is equal to or more than the stop loss price, your buy order will be sent to market.
    • Sell Order
      When market price is equal to or less than the stop loss price, your sell orders will be sent to market.
  2. To buy or sell a specified product at the best available current price.
  3. Fill or Kill means that the order is to be matched, immediately after submission, at the exact quantity specified in the quantity field or else it will be cancelled automatically by the system at once.
  4. Fill and Kill means that the order is to be matched, immediately after submission, as much as possible, up to quantity specified in the quantity field and the remaining unmatched portion, if any, will be cancelled automatically by the system at once.
  5. Trading
  6. There are several reasons that you fail to place an order:
    • Password has expired. Our system requires clients to change their passwords regularly to ensure security. If password expired, you need to change a new password in the futures trading system.
    • Not enough purchasing power. System will hold required margin amount for all order placing request including stop orders that are not triggered no matter they have been executed or not for credit control. You can cancel some of the not-yet-executed orders request to release hold margin or increase the cash balance in your account.
    • Exceed the trading limit. There is an assigned trading limit for each online futures trading account as the maximum margin for open position. It is for credit control purpose. If your account has enough purchasing power but your order request exceeds the trading limit, it will be rejected. If you would like to adjust your trading limit amount, please contact us by phone or by email.
    • System problem on exchange or broker side. If you encounter any system problems, please contact us for further details.
  7. Once the order is placed, the order details will be displayed on 'order book'. If you want to change the order, please press the 'pencil' pattern on the left hand side of the order record, change the order details and then click 'OK' button to proceed. If you want to cancel the order, please press the 'cross' pattern on the left hand side of the order record and then click 'OK' button to proceed.
  8. As the market may fluctuate quickly, your limit order or stop order may be executed in a short time and not able to be cancelled.
  9. Once the order is executed, the order status shown in order record will be changed from 'Queuing' to "Complete" and the execution price and quantity will be displayed in the order record as well. Besides, we will send the trade confirmation to you by email.
  10. You may contact us to confirm the orders status or cancel the orders.
  11. No. You can place order even if your futures account doesn’t have settlement currency. Any currency conversion will be done for you after your order is executed.
  12. Jan Feb Mar Apr May Jun
    F G H J K M

    Jul Aug Sep Oct Nov Dec
    N Q U V X Z
  13. Funds Management
  14. You need to deposit funds to our designated bank accounts and indicate your futures account number in the deposit notification. For details, please refer to "Funds Management" page of our website.
  15. You can transfer your funds from securities account to your futures account via the funds transfer webpage in securities account during designated hours. For details, please refer to "Funds Management" page of our website.
  16. You need to transfer the funds from futures account to your securities account first and then submit a withdrawal request in your securities account. For details, please refer to "Funds Management" page of our website.
  17. 'Initial Cash Balance' + 'Deposit' – 'Withdrawal' – 'Initial Margin' – 'Realized Loss' – 'Unrealized Loss' – 'Charges'
  18. If there is insufficient settlement currency to meet the margin requirement of open positions or there is a negative balance in foreign currency, we will arrange currencies conversion to cover the deficit currencies.

    When we perform the currencies conversion, MONEX BOOM will follow the "Currencies Conversion Sequence" of your securities account. MONEX BOOM will firstly sell the currencies at the top of the sequence, if exhausted, then move down to the next currency.

    To define the "Currencies Conversion Sequence", please login to your securities account, then go to the "Currencies Conversion Setting" under "Currencies Conversion" of the "Funds & Account" section.

  19. Close out & Settlement Mechanism
  20. The close out position sequence for holding more than one futures contract is as follows:
    • Intraday contract
    • The earliest opened contract
    • The contract opened on previous day
  21. For relative long positions, the close out deadline is either 3 trading days before the First Notice Day or Last Trading Day, whichever is earlier.

    For relative short positions, the close out deadline is 3 trading days before the Last Trading Day.

  22. First Notice Day is the first day, vary by contracts and exchanges, on which notices can be issued by sellers to clearing house and by the clearing house to the buyers indicating that sellers intend to deliver the physical commodities in fulfillment of their futures contracts.
  23. Last Trading Day is the final day under the rules of a futures exchange during which trading may take place in a particular futures contract. Contracts outstanding at the end of last trading day must be settled by delivery of underlying physical commodity, cash or financial instrument, depending futures contract specifications.
  24. No. MONEX BOOM does not provide "Physical delivery" services at the moment. If you do not close out the outstanding position before the close out deadline, MONEX BOOM will perform compulsory close out on the day after close out deadline.
  25. Real-time Quotes
  26. Except Chicago Mercantile Exchange (CME), other global futures exchange's real time quotes are temporary fee. For subscribing the real time quotes service, you need to submit the Real Time Quote Services Application Form and Subscription Agreement.
  27. All the global futures real time quotes are charged on calendar month basis. That is, the subscribed service is available from the first day to the last day of the calendar month, and the full month subscription fee will be charged for service less than a month.

    On the 25th of the month, subscription fees for the following month services will be deducted from your futures account automatically in advance. If there are not enough funds in your futures account to cover the subscription fees at the end of the month, your real time quotes service for the following month will be suspended.

  28. To terminate the global futures real time quote services, simply send us a termination notice with your name, futures account number and the service you wanted to terminate, by email before the 25th of the month. We will send you an email as confirmation.

    If we do not receive your termination notice before the 25th of the month, the subscription fees for the following month services will be deducted from you futures account automatically.

Last Update: April 2019.