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Securities Account  |  Trading and Settlement Particulars

Cash Securities Account

All securities transaction traded with a cash securities account are settled in cash with no financing facility to be granted. Before you make any transaction, an available balance at 30% of transaction value has to be maintained in your cash securities account. Taifook Securities reserves the right to adjust the initial deposit requirement in accordance with the market condition or risk of individual stock. New clients should maintain a deposit equivalent to 100% of their first transaction amount with their cash securities account. The unsettled balance should be cleared on or before the second business day after the transaction date (T+2). Taifook Securities assumes full right to charge interest on overdue balance at prevailing margin lending rate for stocks; or to sell the relevant stock for settlement. You are advised to make sure the quantity of stock on hand before you make any sell instructions.

Margin Securities Account

A Margin Account is an account with which you can trade through margin financing. Investors are required to deposit a certain amount of funds into their margin account beforehand, after which they can purchase stocks worth more than the principal fund available in their account. Taifook Securities will finance the trading amount difference. However, the securities will be held in custody with Taifook as collateral. As the price of securities may fluctuate, Taifook Securities reserves the right to request clients to deposit additional funds or securities if the client 's margin position fell below the maintenance level.

Calculation of Discount Value for Specific Stock:

Number of shares on hand x Closing price of previous trade day x Lending ratio = Discount value of stock

Authorization Letter for Margin Securities Accounts

Margin securities account clients shall sign an Authorization Letter to authorize Taifook Securities Company Limited to use the securities purchased or deposited by clients as collateral. This authorization letter is valid for a period of 12 months, subject to renewal for further provision of margin facility to client.

Associated Risk of Margin Securities Account

With the leverage effect of margin account, you could result in a higher return rate together with a high associated risk on buying and selling securities. Margin securities accounts are therefore applicable to investors with risk tolerance and extensive investment experience.

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