Important Notes

Customer Care

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

Securities and Futures Client Agreement Update

Securities Client Agreement and Futures Client Agreement are updated in July 2020. A summary of proposed changes can be found here: "Summary of Amendments to Securities Client Agreement" and "Amendments to Futures Client Agreements". For more details, please refer to our website: Download or contact our Customer Services Department for a copy.

New Measures Anti Covid-19

  • In response to the tightening of the "Prevention and Control of Diseases (Prohibition of Group Aggregation) Regulations" ("Limitation Order") effective from July 29 (Wed) for 7 days and therefore the maximum number of persons allowed in group gatherings in public places will be 2. Phillip Institute of Financial Learning is gradually resuming online courses and seminars, but speakers must wear masks in the venue. If you wish to open an account, you may open it online in our homepage. 
  • In response to the needs of epidemic prevention and anti-epidemic work, our head office and branches will not be opened on Saturdays from 1st February (Saturday) onward. Additionally, we will suspend our client facing services in our head office and branches. All other branches, including our head office, will be opened on weekdays until further notice. We apologise for any inconvenience caused.
  • Hong Kong Post announced that its mail delivery service will be subject to delay. Clients who have opted to receive physical statements will be affected. Clients can log into POEMS or contact your Account Executive for an electronic statement. We apologise for any inconvenience caused. 
  • If you have any enquiries, please feel free to call Customer Service Department at 2277 6555. 

Deposit Instruction:

In order to protect clients interests, please provide the proof of deposit to Customer Service Department for confirmation by E-mail to cs@phillip.com.hk or POEMS apps function [Deposit] to upload the proof(s). All documentation provided as proof of deposit must clearly show the client full name OR client bank account number as it registered with Phillip Securities. Where the initial documentation does not fulfill this requirement, additional proof is needed to confirm the depositor identity. This can be achieved by providing documentation that shows both the client full name AND bank account number. Where a client opts to deposit funds by cheque, the client needs to provide a copy of the cheque and documentary proof that the cheque is drawn from the client bank account.

Fraudulent Impersonation of Phillip Securities Group Staff

We have recently received enquiries involving the fraudulent impersonation of our staff for the purpose of soliciting members of the public to open an account under “Phillip” via online social media (including Facebook) or IM (including WeChat or Line) platforms. Once a fake account is opened, the victims are directed to apply for IPO via the following fraudulent website:

  • http://www.60125.xyz/
  • www.hl2838.com
  • http://www.hl17173.com/
  • https://7802181.com/
  • http://hl111111.com/site/login
  • http://hljyxt.com/index/login/login/token/b68c119a31a951297a62560b2b742d6f.html
  • http://6139208.com/
  • http://www.huili333888.com/
  • http://pc.huili369.com/
  • https://www.8241113.com/

Please note that we are not associated with the suspicious websites/individuals in any way. We have reported the case to the relevant government and regulatory authorities.

You may confirm the identity of our licensed representative via the SFC website and familiarize yourself with our account opening and deposit details (Account Opening Form  and Deposit Details) on our website. Please be cautious and verify the identity of recipients when disclosing personal data and depositing funds to any third parties. We will not be liable to anyone for any loss, directly or indirectly, from any use or contact with the suspicious websites/individuals. Should you have any suspicion of impersonation, please contact our Customer Service Department at (852) 2277 6555.

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.

Arrangement of Proxy Vote and of Attending Shareholder Meeting

We are not responsible for and obliged with the delivery of issuer notification, regarding to general meeting, extraordinary meeting, or resolutions.  You are advised to enquire with the issuer, share registrar office, or proper information provider, if any.

For HK markets, China StockConnect, you mustsubmit the proxy vote to us at least 72 hours before the time for holding the meeting. For overseas markets, it is very likely that your proxy submission is required earlier.

The issuer, share registrar office or the custodian may exercise quota or restriction to limit our quantity of proxy votes. We may not handle your vote if quota is fully utilized by others or restriction is imposed.  Moreover, some proxy vote is chargeable and non-refundable.

Kindly fill out, sign and return the general meeting voting form, with supplementary document, if any.  All copies are either in PDF, or facsimile.  You are advised to contact our back office to ensure the proxy vote is well received.

In consideration of jurisdiction, quota or restriction, we may handle your proxy vote in either one of the following ways, although it may vary with your incentive.

(i)“Vote for” and “Vote against” are treated in its separate way
(ii)“Vote for” and “Vote against” are treated in net basis, which turns out one single consolidated proxy.
(iii)Only the most majority “vote for” or “vote against” prevails. Therefore, “all-or-nothing” would finally apply.

For China StockConnect, voting in person at the shareholding meeting is not applicable. We endeavor to adopt method (i) above, as this is the best treatment of your proxy vote. However for overseas markets where restriction is imposed, we can only adopt method (iii) above, when both methods (i) and (ii) are not feasible.

Treatment of Particular Markets

Information is subject to change, without prior notice. We are not liable for any loss or damage caused by late delivery of proxy vote or its failure in any means.
Market Method Voting in person
Japan (iii) Not allowed
Taiwan (ii) Restriction applied. Only one representative can be appointed
China-B (iii) Not allowed


For inquiry, please contact +852 2277 6517 (HK and China StockConnect), and +852 2277 6678 (Overseas markets).

 

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.

Guidance Notes on Good-Til-Cancel (GTC) and Good-Til-Date (GTD) Orders

Last updated on 4 Sept, 2018

Guidance Notes on Good-Til-Cancel (“GTC”) and Good-Til-Date (GTD) Orders

We would like to provide information and risk disclosures regarding GTC and GTD orders below in order to facilitate Customers’ securities trading in account(s) held with us.

All GTC orders placed with Phillip Securities (Hong Kong) Limited (the “Company”) are assigned an expiration date of 30 calendar days only. Meanwhile, a GTD order is an order that lets Customer assigns a specific expiration date until which an order will continue to work. Similar to the GTC order, the maximum duration for a GTD order is 30 calendar days only. Both GTC and GTD orders will continue to be in force until it is filled, partially filled, or cancelled. Please take note of the following when placing either a GTC or GTD order (“Order”):

1. Once an Order is partially filled, the Order will be cancelled automatically at day end.

2. The particulars of an Order will not be altered in the event of any corporate actions (e.g. shares split, shares consolidation, stock code change, or ex-date events). Any orders affected by corporate actions may results in (i) a failure to execute the Order; (ii) losses or worse-than-expected execution results. Customers should stay abreast of corporate announcement notifications of their own accord and subscribe to relevant email announcement, newsletter, or updates (where available).

3. New orders ARE NOT regarded as GTC or GTD orders regardless of how the original Order is cancelled, unless explicitly stated otherwise by the Customer.

4. When an Order expires or is cancelled, the Company will not renew the Order automatically nor contact the Customer regarding the status of the Order.

5. The Company may cancel an Order at its discretion for any reason (e.g. credit issue of the Customer, suspension of the Customer account, etc.).

6. With respect to Local Stock trading, if the SEHK rejects an Order for whatever reason, the Order will be cancelled automatically at day end and will not be sent to the SEHK on the next trading day.

7. With respect to Foreign Stock trading, if the relevant exchange or a counter-party broker rejects an Order for whatever reason (e.g. order price is too far from market price, trading halt or trading suspended), the Order will not be resubmitted to the relevant exchange or counter-party broker on the day it was rejected. Unless instructed otherwise, we will send the Order again on the next trading day. The expiration date of the latter Order shall be the same as the original rejected Order.

8. For Foreign Stock trading, the placing of an GTC or GTD order can only be done by calling the Foreign Stock Dealing team directly at +852 2277 6678.

If have any enquiries regarding the above or foreign stock trading, please call the Foreign Stock Dealing Team (contact no. above) or the Customer Service Department at +852 2277 6555.

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 17 May, 2018

  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 5:15 pm to 3:00 am 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.


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.

  

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.

IPO

Shanghai Dongzheng Automotive Finance Co., Ltd.(2718) Confirmation

Shanghai Dongzheng Automotive Finance Co., Ltd.(2718) Confirmation:

The Company and the Joint Global Coordinators (on behalf of the Underwriters),after taking into consideration of the current market conditions, have agreed to lower the Offer Price to HK$3.06 per H Share ("New Offer Price"), which is below the indicative Offer Price range set out in the Prospectus.

Client who applied through Phillip Securities please dial to your Account Executive to confirm proceeding with application of Shanghai Dongzheng Automotive Finance before 3:00 p.m. on 26th March 2019. Clients who does not confirm the application before the deadline will be taken as not proceeding with their applications. All handling fee and interest (14 days) will not be returned.

Amended Offering Schedule
Result Announcement: 2nd April 2019
Refund Date: 2nd April 2019
Phillip Mart: 2nd April 2019
Listing Date: 3rd April 2019

Bonds

Important Notes about bond trading and holding positions

Last updated on 15 Jul, 2020

In order to upgrade our bond services, the system will be enhanced. Starting from August 1, 2020. If you trade or hold bond(s) via our Company, your bond transaction records and holdings will be shown in the Daily Combined Statement of Account & Contract Notes and Monthly Combined Statement of Account & Contract Notes respectively. You can also check your bond holdings and asset value through our online trading system (POEMS) or SATS. If you have any enquiries, please contact our Bond Department at 2277 6662.

Other

Previous Notice

Customer Care

  1. Money deposit must be made directly to Phillip's bank account instead of through any third party or AE / staff.
  2. Phillip products can be found on website and shown on statement.
  3. Standard Chartered Bank(Hong Kong) Limited announces that its Best Lending Rate will increase by 12.5 basis Points to 6.125 % per annum from 6 % per annum effective on 31th July 2023. Based on above changes, We will also increase lending rate of margin account, Grade Based Margin (GBM) interest plan and PI Grade Based Margin (PI GBM) interest plan on same day.
  4. Effective 1 January 2024, the Company will adjust the interest rate on Grade Base Margin (GBM) and Professional Investor Grade Based Margin (PI GBM) interest plan. The interest rate for GBM will be adjusted as follows: Grade One stock borrowing rate will be 6.125% (P). Other Grade stock borrowing rate will be 7.625% (P+1.500%).  The interest rate for PI GBM will be adjusted as follows: Grade One stock borrowing rate will be 5.625% (P-0.500%). Other Grade stock borrowing rate will be 7.125% (P+1.000%).  For more details.
  5. Effective 9 August 2024, the Company will adjust the interest rate on Grade Base Margin (GBM) and Professional Investor Grade Based Margin (PI GBM)s USD, CNY and JPY interest plan. The margin interest rate for USD under GBM plan will be adjusted to: 6.125% (P). The margin interest rate for USD under PI GBM plan will be adjusted to: 5.625% (P-0.5%). The margin interest rate for CNY under both GBM and PI GBM plan will be adjusted to: 6.125% (P). The margin interest rate for JPY under both GBM and PI GBM plan will be adjusted to: 2.8% (P-3.325%). For more information, please visit: https://www.poems.com.hk/en-us/

  6. SFC will introduce an investor identification regime (HKIDR) at trading level for the securities market in Hong Kong on 20 March 2023 (Monday). To comply with the PDPO, Phillip Securities will have to obtain client consent before submitting the identity information to the secured data repository. Client have to submit the consent before 17 March 2023 (Friday) for continue to enjoy related Hong Kong Stocks and Stock Options trading services after we confirmed the application. Failure to provide the Company with the data or consent as described above may mean that the Company will not be able to carry out your trading instructions or provide you with securities related services in the Hong Kong securities market, except to sell your existing holdings of securities. The Consent letter has already been uploaded on POEMS and Phillip website (Customer Service > Download Form > Account Opening > HKIDR Consent letter). Clients submit a Consent letter with a soft copy of identity documents to CS by email (cs@phillip.com.hk) or fax (2277 6008).

    a. Individual Account Holder (Face-to-Face Account Opening):  POEMS or Physical form 
    b. Individual Account Holder (Online Account Opening):  POEMS (User Gudine)
    c. Joint Account Holder / Corporate Account Holder:  Physical form(Joint account need to fill in separated form)

  7. The U.S. stock market will shorten the settlement cycle to one business date after trade (T+1) from 28 May 2024 onwards. The Canada stock market will shorten the settlement cycle to one business date after trade (T+1) from 27 May 2024 onwards.

 

Deposit Instruction:

In order to protect clients interests, please provide the proof of deposit to Customer Service Department for confirmation by E-mail to cs@phillip.com.hk or POEMS apps function [Deposit] to upload the proof(s). All documentation provided as proof of deposit must clearly show the client full name OR client bank account number as it registered with Phillip Securities. Where the initial documentation does not fulfill this requirement, additional proof is needed to confirm the depositor identity. This can be achieved by providing documentation that shows both the client full name AND bank account number. Where a client opts to deposit funds by cheque, the client needs to provide a copy of the cheque and documentary proof that the cheque is drawn from the client bank account.

 

Fraudulent Impersonation of Phillip Securities Group Staff

We have recently received enquiries involving the fraudulent impersonation of our staff for the purpose of soliciting members of the public to open an account under “Phillip” via online social media (including Facebook) or IM (including WeChat or Line) platforms.

The name of impersonation our staff as below:

  • Lam Yuen Ting
  • Lam Jam Man
  • Ronghui Group Co., Ltd

 

Once a fake account is opened, the victims are directed to apply for IPO via the following fraudulent website:

  • http://www.60125.xyz/
  • www.hl2838.com
  • http://www.hl17173.com/
  • https://7802181.com/
  • http://hl111111.com/site/login
  • http://hljyxt.com/index/login/login/token/b68c119a31a951297a62560b2b742d6f.html
  • http://6139208.com/
  • http://www.huili333888.com/
  • http://pc.huili369.com/
  • https://www.8241113.com/
  • https://trade.poenins.com/

Please note that we are not associated with the suspicious websites/individuals in any way. We have reported the case to the relevant government and regulatory authorities.

You may confirm the identity of our licensed representative via the SFC website and familiarize yourself with our account opening and deposit details (Account Opening Form  and Deposit Details) on our website. Please be cautious and verify the identity of recipients when disclosing personal data and depositing funds to any third parties. We will not be liable to anyone for any loss, directly or indirectly, from any use or contact with the suspicious websites/individuals. Should you have any suspicion of impersonation, please contact our Customer Service Department at (852) 2277 6555.

 

Our company has recently alerted that some unscrupulous individuals are attempting to contact clients using our company name or impersonating our staff through WhatsApp. They are trying to invite clients to join WhatsApp groups by claiming to share stock information. Our company would like to remind clients that if you have any doubts, please immediately call our Customer Service Hotline at (852) 2277 6555 to inquire.

Our company has recently alerted that a hacker was attempting to send phishing emails using our company domain, "xxxxxtrade@phillip.com.hk", in an attempt to lure recipients into opening links in the email and conducting hacking. If anyone has any doubts or questions regarding any emails sent from our company domain, please contact our Customer Service Department (+852-22776555) or your Account executive.

Fraudulent Impersonation of Wong Wai Kit, Louis

We recently received an enquiry from client about “Did our director – Wong Wai Kit, Louis publish any investment advice/stock recommendation to public via any instant message platform - telegram/whatsapp group/signal/ wechat?” Louis Wong confirmed he did not publish any investment advice/stock recommendation via messenger platform. Phillip Securities would like to take this opportunity to remind all investors should not mistakenly believe those message from unknown message group.

If you had transaction in Gold Futures during 2004-2013 via COMEX or other exchange in US, please visit www.GoldFixSettlement.com to obtain settlement details of the case offered by the remote investment firm and claim you interest.

As the Guangzhou Mail Processing Center suspends receiving surface ordinary letters, our company temporarily sends mails in other ways, and the mail delivery time may be delayed. Client can choose to check the statement on the online trading platform POEMS or apply e-statement service. 

Mr. Louis Wong, Director of Phillip Securities Hong Kong Limited (the "Company"), has been invited to attend seminars and events in the title of “renowned stock commentator” organized by third parties and he only on such occasions shared his personal views on the macroeconomics and financial markets. The company and Loui Wong have not authorized any third party to make offer or recommendation of any investment product in the name of the Company or Mr. Louis Wong.

 

 

Unit Trust

Important Notes about Unit Trust trading and holding positions

Last updated on 14 Oct, 2020

In order to upgrade our Unit Trust services, the system will be enhanced. Starting from October 16, 2020. If you trade or hold Unit Trust(s) via our Company, your Unit Trust transaction records and holdings will be shown in the Daily Combined Statement of Account & Contract Notes and Monthly Combined Statement of Account & Contract Notes respectively. You can also check your Unit Trust holdings and asset value through our online trading system (POEMS) or SATS. If you have any enquiries, please contact our Unit Trust Department at 2277 6777.

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Email : cs@phillip.com.hk

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