What is buying power? How much money should I reserve for stock purchase after placing a market order, at-auction order, at-auction limit order, or enhanced limit order?
Buying power refers to the available balance + funds in transit (your HKD savings balance that has been frozen due to other reasons, the balance of your HKD savings sub-account, the balance of other currency accounts and time deposits are excluded). Please ensure you have sufficient HKD buying power, and the bank will freeze the corresponding amount from the HKD savings account for purchase instructions.
Market order: Frozen amount = (Current market price + 5 price levels) × Order quantity + Fees
Pre-opening auction order: Frozen amount = Order quantity × Previous closing price × 1.3 + Fees
Post-closing auction order: Frozen amount = Order quantity × Market price × 1.3 + Fees
Auction/enhanced limit order: Frozen amount = Order quantity × Order price + Fees
The actual settlement amount will be calculated and debited from your HKD savings account on T+2. Please note that the actual settlement amount may be lower than the frozen amount.
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