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Stocks

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Hong Kong Securities Trading Policy

Trading Products

Required Stock Balance

Short selling is prohibited. Sufficient securities should be ready in client's Account before placing a sell order.

Stock Settlement

Client is required to prepare sufficient shares for Settlement before 3:00 p.m. on the second Settlement Day following T-day (the transaction day).

Channels of Order Placement

Client can place orders by Internet, phone or in person. After received instructions from client, ASA will confirm the instruction with the client through the trading system or by phone.

Fund Deposit / Withdrawal / Transfer

Fund Deposit

Client can make your payment through the following methods transfer funds into our designated bank:

Method of Deposit Client Instructions Points to note
Cheque Payment – Delivery to our office in Person Please issue cheque payable to “ASA Securities Limited” and must be written down client account name, client account number & client signature on the back of the cheque then delivery to our office before 3:30p.m.
1) Any fund by cheque will not be available for use until the has been honored.
2) After depositing funds, clients must be fax the bank deposit slip at (852) 3971 3600 or email to cs@asasec.com and call our Customer Service Department at (852) 3971 3668 for confirmation of the deposit of funds on the same day during office hour before 4 p.m.. If clients inform us after 4 p.m., such deposit of funds will be considered as deposited on the following working day.
3) The name of the drawer of the cheque must be same a the name of the account holder (no third party cheque will be accepted).
Cheque Payment – Direct bank in our designated bank account Please issue cheque payable to “ASA Securities Limited” and must be written down client account name, client account number & client signature on the bank deposit slip.
Cash / Automatic Teller Machine (ATM) funds transfer into designated bank account Client must be written down client account name, client account number & client signature on the deposit slip.
1) After depositing funds, clients must be fax the bank deposit slip at (852) 3971 3600 or email to cs@asasec.com and call our Customer Service Department at (852) 3971 3668 for confirmation of the deposit of funds on the same day during office hour before 4 p.m.. If clients inform us after 4 p.m., such deposit of funds will be considered as deposited on the following working day.
2) All methods to deposit funds will not be accepted third party payment.
Via Internet Banking funds transfer into designated bank account Please print out the funds transfer confirmation and must be written down client account name, client account number & client signature on the confirmation.
Remittance funds into designed bank account Client must be mark down client account name, client account number in the remittance form.

Fund Withdrawal

For cash withdrawal from the account, client should download and print out this Fund Withdrawal Form, please complete the Fund Withdrawal with signature send us by fax no. (852) 3971 3600 or by email cs@asasec.com . All cash withdrawal instructions must be sent to us before 11:00 a.m. in office hour (Monday to Friday), the valid instructions received will be processing on the same day. If the withdrawal instructions send to us in non office hour or after 11:00 a.m., such instructions will be process in the following working day. All withdrawals are made by crossed cheque deposit into client’s designated bank on the same day the request is made.

After selling the physical scrip deposited into ASA, the sales proceed is not allowed to be withdrawn unless the physical scrip has been deposited into ASA for over 10 working days and is proved to be genuine by CCASS.

When client's account balance is less than $100 and with no stock deposit, ASA maintains the right to clear the account outstanding balance when client requests to withdraw.

Cash Transfer

Client can freely transfer cash among the accounts in his/her name under the ASA by:

1. giving written and signed cash transfer instruction fax to (852) 3971 3600; or
2. filling in and submitting the cash transfer form in person

Client's available cash balance will be updated within 1-2 hours automatically.

Confirmation

Client's Cash Deposit / Withdrawal / Transfer instruction will be acknowledged by daily and monthly statement.

Credit Interest

Client will receive interest on a minimum of HK$50,000 credit balance with a standard interest rate set by ASA (Interest rate is subject to change from time to time at the sole discretion of ASA without prior notice.)

Stock Deposit / Withdrawal

Stock Deposit

Physical Scrip

Client is required to deposit physical scrip at ASA’s office in person. A receipt with regard to the stock deposit will be issued immediately.

If the client deposited the physical scrip, it must be approved by the Registrar to verify the shares. In the shares verification period, the company has the right to refuse to sell such shares for the client’s instructions.

Settlement Instruction (“SI”)

Client can deposit stock by SI through CCASS by:

1. signed SI instruction via fax (852) 3971 3600; or
2. filling in and submitting the SI form in person

Stock Withdrawal

Physical Scrip

Client can request to withdraw physical scrip by:

1. giving written and signed stock withdrawal instruction via fax (852) 3971 3600; or
2. filling in and submitting the stock withdrawal form in person
3. Client is requested to pick the physical scrip within 14 days from the instruction date, the stock will be deposited back to CCASS
4. Client is required to pay the withdrawal fee again if client request withdraw that physical scrip again.

Settlement Instruction ("SI")

Client can withdraw stock by SI through CCASS by:

1. giving written and signed SI instruction via fax (852) 3971 3600; or
2. filling in and submitting the SI form in person

Confirmation

Client's Stock Deposit/Withdrawal instruction will be acknowledged by daily and monthly statement.

Deposit Call

1. If there is any outstanding unsettled amount in account, a deposit call notice will be sent to client by phone. The client should fulfill the deposit call within the day upon the issue of deposit call notice, by either depositing money or selling stock on hand.
2. ASA has its sole discretion to determine on the deposit call amount (at a maximum of all outstanding balance in client’s account) and whether a deposit call notice is required.
3. The deposit call will be issued to client via display at the Trading Hall or telephone.

Force Sell Action

1. When the client fails to fulfill the top-up deposit within a specific time upon the issue of deposit call notice, client's stocks will be sold out by ASA at ASA's sole discretion. ASA has its own discretion to execute force sell of all or any securities in the portfolio of the client at any time to set off the entire outstanding of the client, possibly without any prior notice. ASA will inform the client by mail or telephone thereafter.
2. Subject to the market condition, when the advance ratio* of client’s account equals to or above 80%, the client's stocks will be sold out by ASA at ASA's sole discretion at anytime in order to reduce the risk. ASA has its own discretion to execute force sell of all or any securities in the portfolio of the client at any time to reduce the advance ratio or to set off the entire outstanding of the client, possibly without any prior notice. ASA will inform the client by mail or telephone thereafter.

*Advance ratio = - (Account outstanding balance / Account total market value) x 100%