Market feedback on IPO subscription is always the main reason affecting the chance of shares allotment. Therefore large shares subscription volume can boost the chance of successful allotment. From now, with margin financing service, you can use the capital in hand to subscribe more IPO shares. If there is over-subscription, you only need to pay for the balanced amount of the borrowing.
All company clients can enjoy our IPO financing service. For subscribing IPO listed on the main board, margin ratio reaches maximum of 90%, meaning that clients are only required to pay 10% of the subscription fee in cash. The maximum margin ratio for gem board stocks reaches 50%.
N.B. Debt financing of the margin accounts in our company does not involve credit service companies; also the interest rate will not be affected by inter-bank lending rate. Want to join us? Please click here to apply.

If a subscription application for IPO is submitted through the FINI system, the margin interest charged by the Company to you will be calculated based on the amount you committed to borrow from the Company when you submitted your IPO application via telephone or online.

Margin financing service is limited to stocks listed on the main board or gem board of SEHK. Our company also provides margin financing service of stock placement for your clients*.

Announcements will be shown on our company website in the case of suspensions, breakdown, or disruption of the system. Our company has full discretion to cancel all placed or executed orders.
If client wants to clarify their order’s status or is experiencing difficulties with PhillipMart, they should immediately contact their account executive or our customer services at (852) 2277 6555.

Cancellation: All orders placed by clients will only be cancelled and void if a particular security fails to list on the HKEX.
Postponement: Executed orders will remain valid. Outstanding orders will be cancelled.
Alteration: Alteration to terms and conditions of IPO will not affect PhillipMart unless it leads to postponement or cancellation of listing, in which case, please refer to the above.

In the case of any cancellation, postponement or alteration, an announcement will be published on our company website.

In the case of tropical cyclone warning signal number 8 or above or black rainstorm signal:

• Signal lowered after 12:00 noon, no trading for the day.
• Signal discontinued before 12:00 noon, PhillipMart trading sessions will begin as normal at 4:15p.m.
• If the Signal is issued during PhillipMart trading session, it will trade as normal until 6:30p.m.

Please refer to our company website for more information.

In order to ensure trading occurs in a fair and orderly basis, we have adopted the following trading methodology:

• Price and Time Priority

  If an order to buy and sell are of same price and quantity, the trade orders are matched and executed;
  If two orders on the same side are of same price but different entry time, the earlier one is prioritized. The queuing order cannot be changed. If a client amends an order, it will lose its priority.

• Central Order Book

  The ATS has a central order book that retains all bids and offers and its quantities. These bids and offers are aggregated by price and placed accordingly.

• Order Price Limit

  The first input order price is restricted between 50% and 200% of the issue price. Subsequent orders cannot be more than 50 ticks from the last executed price. Any deviation would be rejected automatically. An limit order will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the traded price is not worse than the input price. The sell order input price cannot be made at a price of 10 spreads (or more) below the current bid price whereas the buy order input price cannot be made at a price of 10 spreads (or more) above the current ask price. Any outstanding limit order will be put in the price queue of the input price.

• Quantity Limit

  Quantity restriction 3000 lots per order.