Important Notes

Customer Care

Money deposit must be made directly to Phillipbank account instead of through any third party or AE / staff.
Phillip products can be found on website and shown on statement.

Applicable to Margin Account Holders Only

Under situations where the Client does not hold any Monies in any or all segregated accounts of any name whatsoever and either individually or jointly with others, maintained by Phillip Securities (Hong Kong) Limited and the Client draws a margin loan against the value of the collateral in his/her accounts for the purposes of settling any margin and/or settlement requirements of any account; the Client is exposed to,among other things, increased market risks, increased margin trading risks (refer to the Paragraph 7 of the Client Services Agreement) and additional interest costs.

Local Securities

Collection of Italian Financial Transaction Tax (IFTT)

Last updated on 26 Sept, 2016

With effect from 1 March 2013, the new Italian Financial Transaction Tax (“IFTT”) applies to all transactions involving the transfer of ownership in shares in companies resident in Italy.

Unless otherwise specified, you are required to pay the IFTT when trading the relevant investment products such as PRADA (stock code: 01913.hk) through us. Please refer to the following for details of our arrangement in relation to the collection of IFTT:

IFTT on shares of Italian resident companies listed on HKEx
Effective Date From 1 March 2013
Tax Rate

0.22% (up to 31 December 2013)
0.20% (From 1 January 2014)

0.10% (From 26 September 2016)

Basis of Calculation Final Net Balance (in positive sum) * Weighted Average Purchase Price on Relevant Day * Tax Rate
Calculation Method From 12 August 2013, IFTT will be calculated on the transaction date and deducted from the customer's account on the settlement date of the relevant transaction. For transactions executed from 1 March 2013 to 9 August 2013, relevant IFTT will be deducted from the customer's account on 16 August 2013. Details of IFTT payable will be included on client statements on 12 August 2013.

Remarks: Our company will not offer Italian derivative products that attract IFTT, such as JP Prada @EC1509A (#18065).

Whilst the information contained herein is based on sources that Phillip Securities (Hong Kong) Limited (“PSHK”) believed to be accurate, PSHK does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. You are encouraged to seek professional advice on the implications of IFTT.

Global Securities

Important Notes of Statement

Last updated on May 13, 2014

  1. The above transaction(s) was/were conducted through the nominee account of Phillip Securities (Hong Kong) Limited (“PSHK”) with the respective executing broker(s) on the applicable Exchange or fund house.
  2. Ref. No [*] denotes force trade. [#] denotes short selling order.
  3. In case of error or omission in this statement, please notify PSHK within 3 days from the date of this statement. Otherwise, this statement shall be deemed correct.
  4. PSHK or the executing broker(s) is authorized to collect the appropriate charges or levies in accordance with the rules prescribed by applicable Exchanges from time to time.
  5. All Transactions shall be subject to the Client Agreement and, in respect of those Exchanges and/or Clearing Houses where the Transactions are processed, the constitution, rules, regulations, practices, procedures and administrative requirements, as amended from time to time, of the relevant Exchange and/or Clearing House and to all applicable laws whether imposed on the Customer or PSHK, as amended from time to time.
  6. Transactions on markets in other jurisdictions may expose you to additional risks and Customer assets received or held by PSHK outside of Hong Kong may not enjoy the same level of protection as that conferred on assets received or held in Hong Kong. In particular, foreign securities trading is not regulated by the SEHK and will not be covered by the Investor Compensation Fund.
  7. Please update your account information by logging into www.poems.com.hk or downloading the Account Particulars Amendment Form.
  8. Client Agreement and Personal Information Collection Statement have been updated on http://www.poems.com.hk. Please contact our Customer Service at cs@phillip.com.hk or call 2277 6555 to stop receiving marketing information.
  9. Canadian residents are not permitted to trade / hold Canadian securities.

Bullion

General

Last updated on 29 Jan, 2015

Funds Deposit/ Withdrawal

  1. Please note that Phillip Bullion Limited ("Phillip") does not accept deposit from third party. Client can deposit funds to the designated "Bank Accounts". A crossed personal cheque should be made payable to "Phillip Bullion Limited".
  2. If client account contains insufficient trading currency or deficit in any currency due to trading loss, this negative balance will be charged with interest.
  3. Bullion margin level is adjusted according to market conditions and the risk borne by Phillip. Phillip Bullion Limited reserves the right to adjust the initial margin and maintaining margin of the contract according to the market conditions and without further notification.
  4. If withdrawal instruction is given on a working day before 9:20am, we will be processed on the same day. Alternatively, we will be deposited the cheque to client’s bank account or client can pick up the cheque at our head office.

Others

  1. After client deposits the funds into his Phillip account, notification should give on a working day before 5:00pm and the funds will show up on the selected platform account on the next working day if the funds are recognized successfully. If client intends to trade on the same day, client needs to send the deposit slip (only accepted cash deposit) to Customer Service Department by fax (852) 2277 6008 or email to cs@phillip.com.hk and call client’s Account Executive or dealer to place order.
  2. For any updated personal information, client should inform us as soon as possible. For personal information such as residential address, contact number, email address or bank account information etc., client should submit the "Account Particulars Amendment Form" or written instruction with signature. For change of address or correspondence address, client may be required to provide the address proof dated within the last three months.
  3. For E-statement service, client should ensure the email account can receive email successfully.
  4. For reason of security and protecting client’s benefit, client should change the password of online trading system(s) periodically.
  5. If client does not receive statement from Phillip Commodities (HK) Limited, or you have any suggestion or enquiry, please contact our customer service hotline at (852) 2277 6555 or email at cs@phillip.com.hk.
  6. Please refer to here for our fees and charges.
  7. If client is interested in our investment products, please feel free to contact client’s Account Executive, call our Customer Service Department at (852) 2277 6555 or visit our website

Bullion

Last updated on 29 Jan, 2015

1. Funds Deposit

  1. Bank Lists*. Please visit Deposit:Bank Accounts
    *Deposit slip must be fax to our Futures Department (852) 2277 6866 with phone confirmation or email to futures@phillip.com.hk.
  2. Client may deposit foreign currency acceptable in Phillip for trading, however If client’s account contains negative balance of USD or the overall account balance in terms of USD is negative, client will bear an interest for that negative amount (margin deficit).
  3. Client who withdraws foreign currency available from Phillip (except USD by cheque) from Bullion account to the local bank account or any currencies to foreign bank account must submit the Original Telegraphic Transfer Form to Phillip and client will be charged with a telegraphic transfer fee deducted from client’s account. The approximate fee of each withdrawal is HKD400. Whether any additional fee would be charged by the corresponding bank, client should enquire of the bank in advance.
  4. Phillip reserves the right, but is not obliged, to offset any negative balance or margin deficit with other currencies in the client's account.

Others

  1. For account with equity lower than maintaining margin requirement, client will receive a margin call through mobile phone, email or SMS (if applicable)and will be required to either square the position or deposit/transfer funds to fulfill the initial margin level in a designated time. Otherwise, we reserve the right to close client position;
    In addition, client are advised to monitor its position closely, in case of volatile market, we may force close client position if account is in margin deficit without issuing margin call, and the client shall all time be liable for payment of any debit balance(s) incurred.
  2. Clients who hold overnight bullion position receive or pay a daily interest. This Bullion interest rate depends on market conditions and is regularly updated on Phillip website. For more information, please call Bullion Department at (852) 2277 6711 or email at bullion@phillip.com.hk.

Forex

General

Last updated on 29 Jan, 2015

Funds Deposit/ Withdrawal

  1. Please note that Phillip Commodities (HK) Limited ("Phillip") does not accept deposit from third party. Client can deposit funds to the designated "Bank Accounts". A crossed personal cheque should be made payable to "Phillip Commodities (HK) Limited".
  2. If client account contains insufficient trading currency or deficit in any currency due to trading loss, this negative balance will be charged with interest.
  3. The initial margin and maintaining margin are respectively 5% and 3% of the contract size. Phillip reserves the right to adjust the initial margin and maintaining margin of the contract according to the market conditions and without further notification.
  4. If withdrawal instruction is given on a working day before 9:20am, we will be processed on the same day. Alternatively, we will be deposited the cheque to client’s bank account or client can pick up the cheque at our head office.

Others

  1. After client deposits the funds into his Phillip account, notification should give on a working day before 5:00pm and the funds will show up on the selected platform account on the next working day if the funds are recognized successfully. If client intends to trade on the same day, client needs to send the deposit slip (only accepted cash deposit) to Customer Service Department by fax (852) 2277 6008 or email to cs@phillip.com.hk and call client’s Account Executive or dealer to place order.
  2. For any updated personal information, client should inform us as soon as possible. For personal information such as residential address, contact number, email address or bank account information etc., client should submit the "Account Particulars Amendment Form" or written instruction with signature. For change of address or correspondence address, client may be required to provide the address proof dated within the last three months.
  3. For E-statement service, client should ensure the email account can receive email successfully.
  4. For reason of security and protecting client’s benefit, client should change the password of online trading system(s) periodically.
  5. If client does not receive statement from Phillip Commodities (HK) Limited, or you have any suggestion or enquiry, please contact our customer service hotline at (852) 2277 6555 or email at cs@phillip.com.hk for our fees and charges.
  6. Please refer to here
  7. If client is interested in our investment products, please feel free to contact client’s Account Executive, call our Customer Service Department at (852) 2277 6555 or visit our website.

Forex

Last updated on 29 Jan, 2015

Funds Deposit

  1. Bank Lists*. Please visit Deposit:Bank Accounts.
    *Deposit slip must be fax to our Futures Department (852) 2277 6866 with phone confirmation or email to futures@phillip.com.hk.
  2. Client may deposit foreign currency acceptable in Phillip for trading, however If client’s account contains negative balance of HKD or the overall account balance in terms of HKD is negative, client will bear an interest for that negative amount (margin excess).
  3. Client who withdraws foreign currency available from Phillip (except USD by cheque) from Forex account to the local bank account or any currencies to foreign bank account must submit the Original Telegraphic Transfer Formto Phillip and client will be charged with a telegraphic transfer fee deducted from client’s account. The approximate fee of each withdrawal is HKD400. Whether any additional fee would be charged by the corresponding bank, client should enquire of the bank in advance.
  4. Phillip reserves the right, but is not obliged, to offset any negative balance or margin deficit with other currencies in the client's account.

Others

  1. Client who holds overnight forex position receives or pays a daily interest due to the interest difference from currency pair and this interest is reflected by adjusting the entering price of the position by a swap point. For more information, please refer to Forex:Interest Rate.
  2. For account with equity lower than maintaining margin requirement, client will receive a margin call through mobile phone, email or SMS (if applicable)and will be required to either square the position or deposit/transfer funds to fulfill the initial margin level in a designated time. Otherwise, we reserve the right to close client position;
    In addition, client are advised to monitor its position closely, in case of volatile market, we may force close client position if account is in margin deficit without issuing margin call, and the client shall all time be liable for payment of any debit balance(s) incurred.

Futures

General

Last updated on 29 Jan, 2015

Settlement & Funds Deposit/ Withdrawal

  1. Please note that Phillip Commodities (HK) Limited ("Phillip") does not accept deposit from third party. Client can deposit funds to the designated "Bank Accounts". A crossed personal cheque should be made payable to "Phillip Commodities (HK) Limited".
  2. If client account contains insufficient trading currency or deficit in any currency due to trading loss, this negative balance will be charged with interest.
  3. The contract margin levels abide by the requirement of the exchanges. Phillip reserves the right to adjust the initial margin and maintenance margin of the contract according to the market conditions and without further notification.
  4. If withdrawal instruction is given on a working day before 9:20am, we will be processed on the same day. Alternatively, we will be deposited the cheque to client’s bank account or client can pick up the cheque at our head office.

Others

  1. Every trading contract has a variety of trading months and the trading volume differs correspondingly. Therefore, client must make sure which month of the future contract is the most suitable.
  2. After client deposits the funds into his Phillip account, notification should give on a working day before 5:00pm and the funds will show up on the selected platform account on the next working day if the funds are recognized successfully. If client intends to trade on the same day, client needs to send the deposit slip (only accepted cash deposit) to Customer Service Department by fax (852) 2277 6008 or email to cs@phillip.com.hk and call client’s Account Executive or dealer to place order.
  3. For any updated personal information, client should inform us as soon as possible. For personal information such as residential address, contact number, email address or bank account information etc., client should submit the "Account Particulars Amendment Form" or written instruction with signature. For change of address or correspondence address, client may be required to provide the address proof dated within the last three months.
  4. For E-statement service, client should ensure the email account can receive email successfully.
  5. For reason of security and protecting client’s benefit, client should change the password of online trading system(s) periodically.
  6. If client does not receive statement from Phillip Commodities (HK) Limited, or you have any suggestion or enquiry, please contact our customer service hotline at (852) 2277 6555 or email at cs@phillip.com.hk.
  7. Please refer to here for our fees and charges.
  8. If client is interested in our investment products, please feel free to contact client’s Account Executive, call our Customer Service Department at (852) 2277 6555 or visit our website.

Local Futures

Last updated on 25 Jan, 2015

Settlement & Funds Deposit/ Withdrawal

  1. Please note that Phillip Commodities (HK) Limited ("Phillip") does not accept deposit from third party. Client can deposit funds to the designated "Bank Accounts". A crossed personal cheque should be made payable to "Phillip Commodities (HK) Limited".
  2. If client account contains insufficient trading currency or deficit in any currency due to trading loss, this negative balance will be charged with interest.
  3. The contract margin levels abide by the requirement of the exchanges. Phillip reserves the right to adjust the initial margin and maintenance margin of the contract according to the market conditions and without further notification.
  4. If withdrawal instruction is given on a working day before 9:20am, we will be processed on the same day. Alternatively, we will be deposited the cheque to client’s bank account or client can pick up the cheque at our head office.

Others

  1. Every trading contract has a variety of trading months and the trading volume differs correspondingly. Therefore, client must make sure which month of the future contract is the most suitable.
  2. After client deposits the funds into his Phillip account, notification should give on a working day before 5:00pm and the funds will show up on the selected platform account on the next working day if the funds are recognized successfully. If client intends to trade on the same day, client needs to send the deposit slip (only accepted cash deposit) to Customer Service Department by fax (852) 2277 6008 or email to cs@phillip.com.hk and call client’s Account Executive or dealer to place order.
  3. For any updated personal information, client should inform us as soon as possible. For personal information such as residential address, contact number, email address or bank account information etc., client should submit the "Account Particulars Amendment Form" or written instruction with signature. For change of address or correspondence address, client may be required to provide the address proof dated within the last three months.
  4. For E-statement service, client should ensure the email account can receive email successfully.
  5. For reason of security and protecting client’s benefit, client should change the password of online trading system(s) periodically.
  6. If client does not receive statement from Phillip Commodities (HK) Limited, or you have any suggestion or enquiry, please contact our customer service hotline at (852) 2277 6555 or email at cs@phillip.com.hk.
  7. Please refer to here for our fees and charges.
  8. If client is interested in our investment products, please feel free to contact client’s Account Executive, call our Customer Service Department at (852) 2277 6555 or visit our website.

 

Last updated on 29 Jan, 2015

Settlement & Funds Deposit

Bank Lists*. Please visit Deposit:Bank Accounts
*Deposit slip must be fax to our Futures Department (852) 2277 6866 with phone confirmation or email to futures@phillip.com.hk.

After Hours Futures

HKEX opened up After Hours Futures Trading Session from 5:00 pm to 11:45 pm in which local futures options cannot be traded**. We will make our own calculation for the theoretical price of local futures options based on the price change of local futures. We will base on our internal risk control system to consider whether client have enough equity to open or close local futures position in After Hours Futures Trading Session.
**by the date this document is last edited. After-hour trading session is subjected to HKEX future amendment and Phillip will make necessary change.

 

Margin Requirement

The minimum margin levels for Futures Contracts can be found on the HKEX website. Nevertheless, our Company has the right to set a higher margin requirement according to each client's circumstances.

 

Margin Call:

When the account equity falls below the maintenance margin level, Phillip will make best effort to issue margin call via phone, email or message (if applicable) etc., requesting client to restore the account equity to initial margin level within a specified time by one of the following action:

  1. deposit the margin amount; or
  2. transfer from other Phillip accounts; or
  3. close out position.

Otherwise, Phillip will force liquidate the account position.  Client shall remain liable for any deficit in the account.

Moreover, at volatile market conditions, Phillip reserves the right to call for margin deposit from time to time.  Client should always pay attention to account position and allow sufficient equity to cover potential margin shortfall. 


Force Liquidation Policy:

1.  Phillip will make best effort to call client margin, however, it may not be able to contact client  timely due to various reasons (including volatile market condition).
If client cannot restore the account equity to initial margin level within specified time, Phillip may request client to or force close position(s).

2.  If equity falls below the required margin level or has negative balance when market opens after weekend or holiday, Phillip will make best effort to call client margin or force close position(s) at market price.  Client shall remain liable for any deficit in the account.

3.  Phillip will notify client any force liquidated position(s) by telephone, email or message, and also have those transactions identified in statement.  If the force liquidation is not sufficient to cover negative balance in the account, client shall remain liable for any deficit in the account.

Foreign Futures

Last updated on 25 Jan, 2015

Settlement & Funds Deposit/ Withdrawal

  1. Please note that Phillip Commodities (HK) Limited ("Phillip") does not accept deposit from third party. Client can deposit funds to the designated "Bank Accounts". A crossed personal cheque should be made payable to "Phillip Commodities (HK) Limited".
  2. If client account contains insufficient trading currency or deficit in any currency due to trading loss, this negative balance will be charged with interest.
  3. The contract margin levels abide by the requirement of the exchanges. Phillip reserves the right to adjust the initial margin and maintenance margin of the contract according to the market conditions and without further notification.
  4. If withdrawal instruction is given on a working day before 9:20am, we will be processed on the same day. Alternatively, we will be deposited the cheque to client’s bank account or client can pick up the cheque at our head office.

Others

  1. Every trading contract has a variety of trading months and the trading volume differs correspondingly. Therefore, client must make sure which month of the future contract is the most suitable.
  2. After client deposits the funds into his Phillip account, notification should give on a working day before 5:00pm and the funds will show up on the selected platform account on the next working day if the funds are recognized successfully. If client intends to trade on the same day, client needs to send the deposit slip (only accepted cash deposit) to Customer Service Department by fax (852) 2277 6008 or email to cs@phillip.com.hk and call client’s Account Executive or dealer to place order.
  3. For any updated personal information, client should inform us as soon as possible. For personal information such as residential address, contact number, email address or bank account information etc., client should submit the "Account Particulars Amendment Form" or written instruction with signature. For change of address or correspondence address, client may be required to provide the address proof dated within the last three months.
  4. For E-statement service, client should ensure the email account can receive email successfully.
  5. For reason of security and protecting client’s benefit, client should change the password of online trading system(s) periodically.
  6. If client does not receive statement from Phillip Commodities (HK) Limited, or you have any suggestion or enquiry, please contact our customer service hotline at (852) 2277 6555 or email at cs@phillip.com.hk.
  7. Please refer to here for our fees and charges.
  8. If client is interested in our investment products, please feel free to contact client’s Account Executive, call our Customer Service Department at (852) 2277 6555 or visit our website.

 

Last updated on 29 Jan, 2015

Settlement & Funds Deposit

Bank Lists*. Please visit Deposit:Bank Accounts
*Deposit slip must be fax to our Futures Department (852) 2277 6866 with phone confirmation or email to futures@phillip.com.hk.

 

Last updated on 31 Mar, 2016

CME Group Market Data Subscription

We would like to inform you that with effect from 1 April 2015, there will be a monthly subscription fee for non-professional and professional subscribers to access market data for exchanges under the Chicago Mercantile Exchange (CME) Group. These exchanges include the CME, Chicago Board of Trade (CBOT), New York Mercantile Exchange (NYMEX) and Commodity Exchange (COMEX).

In order to help you understand the changes with regards to the CME Group Market Data Subscription, you may visit the Chicago Mercantile Exchange (CME) Group website for more details. If you have any other query with regards, you may contact our Foreign Futures Department at (852) 2277 6667 or email futures@phillip.com.hk.


EUREX Exchange (EUREX) and Intercontinental Exchange (ICE)’s market data Subscription

With effect from 1st April 2016, there will be a monthly subscription fee to access EUREX Exchange (EUREX) and Intercontinental Exchange (ICE)’s market data (including FDAX/DowJones Euro Stoxx 50 Index/US Dollar Index Futures/FTSE 100 Stock Index/Cotton etc.).

To ensure that you are able to continue to access the market data after April 2016, please contact our Foreign Futures Department for further query and application details at (852) 2277 6677 or email futures@phillip.com.hk.

Settlement & Funds Deposit

  1. Bank Lists*. Please visit Deposit:Bank Accounts.
    *Deposit slip must be faxed to our Futures Department (852) 2277 6866 with phone confirmation or email to futures@phillip.com.hk.
  2. Client may deposit foreign currency acceptable in Phillip for trading. However, if client deposits Hong Kong dollar without conversion, client will bear interest due to negative balance or margin deficit of foreign currency.
  3. All Foreign Futures contracts traded through Phillip can only be settled by cash and no physical delivery is made. Client will be requested to close out or to rollover the position 1 day before First Notice Day and Last Trading Day. If client’s position is not squared by the above designated time, Phillip will assist to liquidate your position(s) around 00:00 a.m.(HK time) on the designated day. This is necessary in order to prevent any physical delivery of the contract which we do not facilitate. The liquidation by Phillip will be carried out with our best efforts. In the event that we are unable to carry out the liquidation successfully, we will not be held liable to our clients for any direct or indirect loss, cost or damages.
  4. Client who withdraws foreign currency available from Phillip (except USD by cheque) from Foreign Futures account to the local bank account or any currencies to foreign bank account must submit theOriginal Telegraphic Transfer Formto Phillip and client will be charged with a telegraphic transfer fee deducted from client’s account. The approximate fee of each withdrawal is HKD400. Whether any additional fee would be charged by the corresponding bank, client should enquire of the bank in advance.
  5. Phillip reserves the right, but is not obliged, to offset any negative balance or margin deficit with other currencies in the client's account.

 

Margin Call:

When the account equity falls below the maintenance margin level, Phillip will make best effort to issue margin call via phone, email or message (if applicable) etc., requesting client to restore the account equity to initial margin level within a specified time by one of the following action:

  1. deposit the margin amount; or
  2. transfer from other Phillip accounts; or
  3. close out position.

Otherwise, Phillip will force liquidate the account position.  Client shall remain liable for any deficit in the account.

Moreover, at volatile market conditions, Phillip reserves the right to call for margin deposit from time to time.  Client should always pay attention to account position and allow sufficient equity to cover potential margin shortfall. 


Force Liquidation Policy:

1.  Phillip will make best effort to call client margin, however, it may not be able to contact client  timely due to various reasons (including volatile market condition).
If client cannot restore the account equity to initial margin level within specified time, Phillip may request client to or force close position(s).

2.  If equity falls below the required margin level or has negative balance when market opens after weekend or holiday, Phillip will make best effort to call client margin or force close position(s) at market price.  Client shall remain liable for any deficit in the account.

3.  Phillip will notify client any force liquidated position(s) by telephone, email or message, and also have those transactions identified in statement.  If the force liquidation is not sufficient to cover negative balance in the account, client shall remain liable for any deficit in the account.

 

Others

  1. Settlement Method

    Before trading, client has to understand the contract settlement method (physical delivery or cash settlement). Some dates are important such as First Notice Date and Last Trading Date. This information can be found on the exchange website or our website.
  2. First Notice Date

    For contract of physical delivery, seller can any time after the First Notice Date exercise the right to deliver. In that case, client long buying the contract must close out or rollover the position 1 day before First Notice Date. On the other hand, client short selling the contract can hold till the Last Trading Date or designated day from Phillip.
  3. Last Trading Date

    Client holding corresponding position, no matter long buying or short selling, must close the position one day before the last trading date. Contract settled by cash can be held until settlement. Profit and loss will be calculated according to settlement price released by exchange.
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Tel : (852) 2277 6555
Fax : (852) 2277 6008
Email : cs@phillip.com.hk

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