Local Futures

Last Update:June 1, 2013

Risk Disclosures

1. Risks of using electronic trading services

If you undertake transactions via electronic trading facilities, you will be exposed to risks associated with the system including the failure of hardware and software, and your order may not be executed according to your instructions.

2. Risks of Futures and Options Trading

The risk of loss in trading futures contracts or options is substantial. You may sustain losses in excess of your initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily avoid loss. Market conditions may make it impossible to execute such orders. There is a possibility that any stop-loss order may be cancelled by a futures exchange due to various reasons including where orders are "out of price limits" during a fluctuating market. We will try our best to inform you as soon as possible but this CANNOT be guaranteed. You will be required to bear any loss as a result of such order cancellation.

3. Risks of Derivatives Trading

Trading of derivatives involves high risks and is not suitable for every investor. The prices of derivatives may fall as rapidly as they may rise and you may suffer total or excessive loss of your investment amount.

4. Risks of Margin Trading

The risk of loss in financing a transaction by deposit of collateral is significant. You may be called upon at short notice to deposit additional margin funds. In extreme market conditions we may be unable to contact you or provide you with sufficient time to make the required deposits, and forced liquidation may be necessary.

This brief statement cannot disclose all risks. You should therefore study carefully the risks disclosure statements on our website and in your client agreement.

Notice : After Hours Futures Trading Session

After Hours Futures Trading Session is from 5:00 pm to 11:00 pm, local futures options cannot be traded. We will make our own calculation for the theorical 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 you have enough equity to open or close local futures position in After Hours Futures Trading Session.

Local Futures Trading Schedule

Time 
8:45:00 – 9:10:59 & 12:30:00 – 12:55:59 May place limit order (LO) or auction order (AO) / may cancel LO or AO
9:11:00 – 9:12:59 & 12:56:00 – 12:57:59 Cannot place LO / can place AO/ cannot cancel LO or AO
9:13:00 – 9:14:59 & 12:58:00 – 12:59:59 Cannot place or cancel order as this session determines futures market price
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Tel : (852) 2277 6555
Fax : (852) 2277 6008
Email : cs@phillip.com.hk

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