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.

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 5:15 p.m. to 3:00 a.m.** 
**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.

Reporting Levels and Positions Limits

Where Clients hold open position in Futures / Options contracts exceeding a certain level, our Company shall report such holding to the Exchange. Additionally, Clients may not hold positions that exceed the position limits.

For specifics regarding reporting levels and position limits, please refer to the link below

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：

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.

Stop Loss Orders：

Stop Loss Orders can help you to minimize potential losses, to protect unrealised gains at a pre-determined level in adverse market conditions or to initiate a new position. A Stop Loss Order may be executed when the pre-determined target price is triggered even where clients do not hold such a position.