Market Information & Order Types FAQ

Overview

Which markets can I trade online with DBS Vickers?
You can trade online in the U.S., Canada, Hong Kong, Singapore, U.K., Australia and Japan markets.
How do I access the DBS Vickers online trading platform?

To access your DBS Vickers online trading account, please log in via DBS/POSB iBanking. On the top navigation bar, select Invest > DBS Vickers Online Trading.

You may also access your trading account via our mobile app DBSV mTrading.

What quotes are available on DBS Vickers online trading platform?
Free real-time quotes are available on equities listed on the US/Canada, Hong Kong and Singapore markets. Quotes for UK market are delayed by 15 minutes; Australia and Japan markets are delayed by 20 minutes.
What are the trading hours of the U.S./Canada, Hong Kong, Singapore, U.K., Australia, and Japan markets?

Stock markets operate from Monday to Friday except for public holidays. Please refer to the respective exchanges for their public holidays. The market trading hours are as follow:

MarketsTrading Hours
(Local Time)
Trading Hours
(HKT/SGT)
Standard Time
Trading Hours
(HKT/SGT)
Daylight Saving
Canada/ United States09:30 - 16:0022:30 - 05:0021:30 - 04:00
Hong KongPre-opening:
09:00 - 09:30
Morning:
09:30 - 12:00
Afternoon:
13:00 - 16:00
Pre-close session:
16:00 – 16:08-10**
Pre-opening :
09:00 - 09:30
Morning:
09:30 - 12:00
Afternoon:
13:00 - 16:00
Pre-close session:
16:00 – 16:08-10**
NA
SingaporePre-opening session:
08:30 - 08:58-59*
12:00 – 12:58-59*
Continuous session:
09:00 - 12:00
13:00 – 17:00
Pre-close session:
17:00 - 17:04-05**
Non-Cancel:
17:04/17:05* – 06
Trade At Close session:
17:06-17:16
Pre-opening session:
08:30 - 08:58-59*
12:00 – 12:58-59*
Continuous session:
09:00 - 12:00
13:00 – 17:00
Pre-close session:
17:00 - 17:04-05**
Non-Cancel:
17:04/17:05* – 06
Trade At Close session:
17:06-17:16
NA
United KingdomPre-opening session:
07:50 - 08:00
Continuous session:
08:00 - 16:30
Pre-Closing session:
16:30 – 16:35
Pre-opening session:
15:50 - 16:00
Continuous session:
16:00 - 00:30
Pre-Closing session:
00:30 – 00:35
Pre-opening session:
14:50 - 15:00
Continuous session:
15:00 - 23:30
Pre-Closing session:
23:30 – 23:35
Australia
(Note: We are not participating in ASX pre-opening session.)
Continuous session:
10:00 – 16:00
Pre-Closing session:
16:00 – 16:12
Continuous session:
08:00 – 14:00
Pre-Closing session:
14:00 – 14:12
Continuous session:
07:00 – 13:00
Pre-Closing session:
13:00 – 13:12
JapanPre-opening sessions:
08:00 - 09:00
12:05 - 12:30
Continuous sessions:
09:00 – 11:30
12:30 – 15:00
Pre-opening sessions:
07:00 - 08:00
11:05 - 11:30
Continuous sessions:
08:00 – 10:30
11:30 – 14:00
NA

*Pre-Open Phase (08:30 to 08:58-59 hours)
Singapore (08:30 to 08:58-59)

This phase will end randomly at any time from 08:58 to 08:59 hours.

**Pre-Close Phase
Singapore (17:00 to 17:04-05 hours/12:30 to 12:34-35 hours)

This phase will end randomly at any time from 17:04 to 17:05 hours (for normal day trading) or 12:34 to 12:35 hours (for half-day trading).

Hong Kong (16:00 to 16:08-10 / 12:00 to 12:08-10)
This phase will end randomly at any time from 16:08 to 16:10 hours (for normal day trading) or 12:08 to 12:10 hours (for half-day trading).

Can I place trade during pre-opening/closing session?

At DBS Vickers, we provide trading services in the pre-market sessions with the following conditions:

Hong Kong Market
Time RangePeriodNew Order InputAmendmentCancellation
Pre-opening Session:
09:00 - 09:15Order Input Period

Only at-auction orders and at-auction limit orders are accepted.

tick-yestick-yestick-yes
09:15 - 09:20Non-cancellation Period

Only at-auction orders and at-auction limit orders are accepted.

Price Limit: Within lowest ask & highest bid (recorded at the end of Order Input Period)
tick-yescross-nocross-no
09:20 - 09:22Random Matching Period

Price Limit: Within lowest ask & highest bid (recorded at the end of Order Input Period)

Order matching will randomly start between 09:20am to 09:22am
tick-yes


Upon start of order matching, input will not be allowed
cross-nocross-no
After match - 09:30Blocking Periodcross-nocross-noAn unfilled at-auction order will be cancelled automatically after matching period.

An unfilled at-auction limit order with input price not deviating nine times or more from the prevailing nominal price will be converted to limit order at the input price and carried forward to the continuous trading session.
Closing Auction Session:
16:00 – 16:01**Reference Price Fixing Periodtick-yestick-yestick-yes
16:01 – 16:06Order Input Period

Only at-auction orders and at-auction limit orders are accepted.

Price Limit: +/-5% of reference price
cross-nocross-nocross-no
16:06 – 16:08Non-cancellation Period

Only at-auction orders and at-auction limit orders are accepted.

Price Limit: Within lowest ask & highest bid (recorded at the end of Order Input Period)
cross-nocross-nocross-no
16:08 - 16:10**Random Closing Period

Price Limit: Within lowest ask & highest bid (recorded at the end of Order Input Period)

Market will randomly close between 16:08pm to 16:10pm
cross-nocross-noAll Unmatched orders will be discarded.

**This phase will end randomly at any time from 16:08 to 16:10 hours (for normal day trading) or 12:08 to 12:10 hours (for half-day trading).


Singapore Market
Time RangePeriodNew Order InputAmendmentCancellation
08:30 - 08:58-59*Pre-open Periodtick-yestick-yestick-yes
08:58-59* - 09:00Non-cancel Periodcross-nocross-noAll unmatched orders will flow into the regular trading session
12:00 – 12:58-59*Pre-open Periodtick-yestick-yestick-yes
12:58-59* - 13:00Non-cancel Periodcross-nocross-noAll unmatched orders will flow into the regular trading session
17:00 - 17:04-05**Pre-close Periodtick-yestick-yestick-yes
17:04-05** - 17:06Non-cancel Periodcross-nocross-noAll unmatched orders will be discarded.
17:06-17:16Trade At Close Periodtick-yestick-yesOrder Matching allowed only at closing auction price.

*Pre-Open Period (08:30 to 08:58-59 hours / 12:00 to 12:58-59 hours)
This phase will end randomly at any time from 08:58 to 08:59 hours, and from 12:58 to 12:59 hours.

**Pre-Close Period (17:00 to 17:04-05 hours for normal day trading/ 12:00 to 12:04-05 hours for half-day trading)
This phase will end randomly at any time from 17:04 to 17:05 hours (for normal day trading) or 12:04 to 12:05 hours (for half-day trading).

More information about pre-market sessions is available on the HKEX and SGX web sites.

What is Trade At Close Period? (applicable to SGX market only)

The 10-minute-long TAC session will immediately follow the closing auction routine and allows participants to execute orders at the Closing Auction Price (CAP) set during the closing auction routine. The TAC session will occur at 5.06pm to 5.16pm on a regular trading day and from 12.06pm to 12.16pm if the market is trading for half a day.

During the TAC session, trades can only occur at a fixed price, that is CAP established by SGX during the “Non-Cancel Last” session. The CAP will be displayed on our platform.

If there is no closing auction price established during Non-Cancel Last session for the counter, then all the order entries will be rejected and there will be no order matching during TAC session on that business day for that counter.

All unfilled long dated orders (GTD/GTM) during TAC, will be carried over to the following trading day.

Limit orders can only be entered at the closing auction price. Order amendments and cancellation is allowed during TAC.

Should SGX invalidate a closing auction price for a security, trades done during the relevant TAC phase based on that price will also be cancelled.

For more information on TAC, please refer to SGX FAQ and News Release.

Examples 
Closing Auction Price (provided by SGX) = $1.30 
Limit Order Price = $1.30 
Expected result: Order accepted by SGX

Closing Auction Price (provided by SGX) = $1.30 
Limit Order Price = $1.40 
Expected result: Order rejected by SGX

Closing Auction Price (provided by SGX) = Price Unavailable (-) 
Limit Order Price = $1.40 
Expected result: Order rejected by SGX

 

 

Order Types

What types of orders can I place?
Types of OrdersMarkets
United StatesCanadaHong KongSingaporeUnited KingdomAustraliaJapan
Market+tick-yestick-yes tick-yes   
Limittick-yestick-yestick-yestick-yestick-yestick-yestick-yes
Auction  tick-yes    
ELO  tick-yes    
SLO  tick-yes    
All Or Nonetick-yes      
Good for daytick-yestick-yestick-yestick-yestick-yestick-yestick-yes
Good till date*tick-yestick-yes tick-yestick-yestick-yestick-yes
Good till Max   tick-yes   
Fill or Kill+   tick-yes   
Fill and Kill   tick-yes   

* Good till date orders are valid for a maximum of 30 calendar days. Applicable for buy and sell orders for cash trading only.
+ Singapore Market Order type can only be entered during normal trading hours, from 09:00 - 17:00

Can I contra my trades?
Yes, contra trades are only applicable to Singapore Market. Please indicate ‘Contra’ if you wish to contra your trades. We strongly encourage you to contra with the same brokerage to avoid short selling.
What is the difference between market order, limit order, at-auction order, at-auction limit order, enhanced limit order and special limit order?

Market Order:
When the market is open, a market order will be executed at the best bid or ask price available. If a market order is placed when the market is closed, it will be executed at the bid or ask price when the market opens. A market order guarantees an execution but does not guarantee a price. A market order could be executed at a higher or lower price than what was quoted to you. Please note that market orders are not allowed for Hong Kong, United Kingdom, Australia and Japan markets.

Singapore Market Order type can only be entered during trading hours, from 09:00 - 17:00

Limit Order:
When you place a limit order, you are stating the price at which you wish to buy or sell a stock. If that price is not met, your order will not be executed. A limit order guarantees a price but does not guarantee an execution. A limit order can be executed at a better price than the limit price you set.

Hong Kong Market Order Types

Limit Order:
A Limit order allows an order to be matched only at a specified price. A sell limit order cannot be below the current bid price whereas a buy limit order cannot be above the current ask price. Any unmatched quantity will be placed in the price queue.

Enhanced Limit Order (ELO) and Special Limit Order (SLO) are the two order types available to Hong Kong trading.

Enhanced Limit Order (ELO):
An ELO is similar to a Limit order. The difference between the two is that an ELO allows an order to be matched up to 10 price queues at one time. A buy order input price can be made at a price of 9 spreads above the current ask price and a sell order input price can be made at a price of 9 spreads below the current bid price. Any unfilled quantity of an ELO after matching will be converted into a Limit Order and placed in the price queue at the order input price.

Special Limit Order (SLO):
A SLO allows an order to be matched up to 10 price queues, 9 spreads away, at one time as long as the traded price is better than the input price. There are no price restrictions on a SLO. However, the buy order input price must be at or above the best ask price, whereas the sell order input price must be at or below the best bid price. Any unfilled quantity of an SLO after matching will be cancelled.

More information about ELO and SLO is available on the Hong Kong Stock Exchange (HKEX) website.

At-auction Order:
An at-auction order is a market order without a specified price. It is entered for execution at the final Indicative Equilibrium Price (IEP). It enjoys a higher auction matching priority than an at-auction limit order and will be matched in time priority at the final IEP. Any outstanding at-auction orders after the end of the pre-opening session will be cancelled before the commencement of the continuous trading session.

At-auction Limit Order:
An at-auction limit order is a limit order with a specified price. After order matching, any unfilled at-auction limit orders in the pre-opening session with input price not deviating nine times or more from the prevailing nominal price will be converted to limit orders at the input price and carried forward to the continuous trading session.

What is an 'All Or None' (AON) order?
AON is a type of restricted order where the entire order must be filled at one time or nothing will be filled at all. If you do not specify your order as All Or None when placing a limit order, there is a possibility that your order may be partially filled. Full commission fees and charges apply for each partial fill, except those transacted within the same business day. Please note that AON feature will only be available if the quantity is over 100 units.
What is a Good for Today order?
A Good for Today order is a limit order good for that business day only. If the order is not filled by the end of the trading day, the order will expire. A Good for Today order placed after the market is closed is good for the next business day, unless it is placed specifically for after-hours trading.
What is a Good till Date order?

A Good till Date order is a limit order good until a date of expiry after the order is placed. The date of expiry can be indicated up to a maximum of 30 calendar days. At the close of the market on the expiry day, any remaining quantity of the order that is not filled will be cancelled. Good till Date orders are only applicable for the Singapore, U.S., Canada, U.K., Australia and Japan markets.

Note: Good till Date order duration is not applicable to Cash Upfront trades 

What is a Good till Max order?
A Good till Max order is a limit order similar to Good till Date order. Order will automatically be good for the next 30 calendar days after the order is placed, and cancelled on the morning following the 30th day, unless order is fully filled, specifically cancelled, instrument de-listed, or purged for corporate actions. Good till Max orders are available in the Singapore market only. (Singapore account holders: Applicable for SGX cash buy and sell trades only)
What is a Fill or Kill order?
A market Fill or Kill (FOK) order is only applicable to the Singapore market. The entire quantity placed must be matched in full or the order will be cancelled. A market FOK order can only be entered during continuous trading hours from 09:00 – 12:00 and 13:00 – 17:04.
What is a Fill and Kill order?

A market Fill and Kill (FAK) order is only applicable to the Singapore market. Any portion of a market FAK order will be matched as soon as the order is placed and the remaining order will be cancelled. A market FAK order can only be entered during trading hours from 08:30 – 17:04

Risks associated with using market orders 
Please take note that by placing a market FAK order during SGX Opening Routine, Mid-Day Break or Closing Routine, the order will be participating in Matching during Non-Cancel Phase. 
Orders that can be matched are matched at a single price computed based on SGX Algorithm.

A buy order can be filled at a much higher price than intended, or a sell order can be filled at a much lower price than intended. Using market orders during a volatile market is not recommended as there is a higher probability that the prices will change quickly. Hence, the incidence of ‘slippage’ is higher in fast-moving markets or for illiquid securities with thin order book and wide bid-ask spread. The order may be split across multiple investors on the other side of the transaction, resulting in different prices for the order.

For more information, please click here.

Can I place odd Lot orders via the trading platform?
Odd lot/unit share cannot be placed through the trading platform. Please call our Customer Service Line at (65) 6327 2288 if you wish to place an order in the odd lot/unit share market. Please note that trading in odd lot shares will be based on the prevailing odd lot market price which may be less favourable than trading in the normal market.
What are the commission charges for trading in odd Lot/unit share market?
Commission for trading in the odd lot/unit share market will be based on the prevailing phone rate charges. Please refer to pricing schedule for rates.

Order Submission

How will I know if my order is placed successfully?
You will receive an online order confirmation with a reference number provided. This confirmation means that we have received your order instruction. You will need to check the order status to find out whether your order has been filled. The status shows the stage at which your order is being processed.
How am I notified of the execution of a trade?
You can check the order status online at Trade > Order Status. You can also receive trade confirmations via SMS and email. To activate SMS and/or email alerts, go to My Profile > Set Alerts in your online trading account.
How do I amend my order?

To amend any outstanding order(s), you may do so in the Order Status page. The amended order should be reflected in the Order Status page. There are different amendment actions for different markets.

MarketAllowed Amendment Action
(Monday to Friday)
Hong KongDecrease Quantity,
Increase Price (Buy Transaction),
Decrease Price (Sell Transaction)
SingaporeDecrease Quantity
United States & CanadaNot available
United KingdomDecrease Quantity
AustraliaDecrease Quantity
JapanDecrease Quantity
How do I cancel my order?
If you have an outstanding order that has not yet been filled, you may cancel it in the Order Status page. The status of your order will be updated to reflect “Cancelled” in the Order Status page. Please note that all cancel orders are subject to prior fills.
What happens if the orders are not executed by the end of the business day?
For Good for Today orders, all unmatched orders will expire at the end of the business day. If you wish to keep the order for the next business day, you will have to re-enter the order after the trading hours. If you have selected Good till date (only applicable for the Singapore, U.S., Canada, U.K., Australia and Japan markets), any unfilled order on the expiry date will be cancelled automatically.
What is the cut off time for entering orders?
Orders can be entered throughout the day, 24 hours a day, 7 days a week. However, please be reminded that an order will be routed to the market in the next trading session if it is placed during non-trading hours.
What is a Forced Order in Singapore market?
An order is forced when it is submitted at a price outside the stated forced order bid spread. The system will alert you when you enter an order price that is more than the stated forced order bid spread from the current bid/ask prices in the market. You may wish to revise it if you have mistakenly done so.
Under what circumstances could my Singapore trades be rejected?

There are a number of reasons your order could be rejected and the common ones are listed here:

  1. The limit price of your order is more than the stated max bids away from the current bid/ask prices and the forced order option was not checked.
  2. The trading limit for your account has been exceeded.
  3. The stock you selected to purchase using CPF funds is not CPF-approved.
  4. The stock you selected has been suspended.
  5. The stock you selected has been delisted.
  6. The SGX has encountered technical problems.
  7. The system has encountered technical problems - such as outages, glitches and other delays.
  8. The limit price of your order is not the same as the closing auction price during Trade At Close session.

If your order is rejected despite having checked and corrected any possible errors, please call our Customer Service Line at (65) 6327 2288.

Can I amalgamate my Singapore trades?
Our online brokerage service automatically amalgamates trades when the trades are of the same stock, currency, settlement mode and trade date as well as the same mode of trade. For foreign currency settlement, if orders were placed at different times of the trade day, different foreign exchange rates may be applied for each trade. In this case, amalgamation will not be automatic. If you wish to amalgamate such orders, please call our Customer Service Line at (65) 6327 2288 by (Trade Date +1) for cash trades, and on the Trade Date for CPF trades.
Will I receive a confirmation if the order is done?
If you have activated alerts, you will receive notification(s) via email and/or SMS alerts. To activate alerts please go to My Profile > Set Alerts in your DBS Vickers online trading account. Final trade confirmation will be mailed to you on T+1.
Can I send trade instructions via e-mail?
No. DBS Vickers do not accept trade instructions via email. If you encounter problems while trading, please call our Customer Service Line at (65) 6327 2288.

Prices & Minimum Bid Size

What price can I submit my orders for Singapore Market?
Minimum Bids Schedule
ProductsPrice Range
(S$)
Bid Size
(S$)
Forced Orders (bids)
SecuritiesBelow 0.200.001+/- 30
0.20- 0.9950.005
1.00 and above0.01
Exchange Trade FundsAll0.01 or 0.001 as determined by SGX-ST+/- 30
Bonds, debentures, preferenceAll0.001+/- 30


Hong Kong Dollar (HKD) Minimum Bids Schedule
ProductsPrice Range
(HKD)
Bid Size
(HKD)
Forced Orders (bids)
Securities denominated in Hong Kong Dollar & Chinese RenminbiBelow 0.250.001+/- 30bids
0.25 - 0.4950.005
0.50 - 9.990.01
10.00 - 19.980.02
20.00 - 99.950.05
100 - 199.900.10
200 - 499.800.20
500 and above0.50


Japanese Yen Minimum Bids Schedule
ProductsPrice RangeBid Size
(JPY)
Forced Orders (bids)
Securities denominated in Japanese YenBelow 2,0001+/- 30bids
2,000 - 2,9955
3,000 - 29,99010
30,000 - 49,95050
50,000 - 99,900100
100,000 and above1,000

In addition, your order price should be in exact multiples of the stated minimum bid size.

What price can I submit my orders for Hong Kong Market?

Part A
All securities, other than those securities covered under Part B, Part C and/or Part D, shall be traded in accordance with the following scale of spreads:

Price Range (HKD)Minimum Bid Size
From 0.01 to 0.250.001
Over 0.25 to 0.500.005
Over 0.50 to 10.000.010
Over 10.00 to 20.000.020
Over 20.00 to 100.000.050
Over 100.00 to 200.000.100
Over 200.00 to 500.000.200
Over 500.00 to 1,000.000.500
Over 1,000.00 to 2,000.001.000
Over 2,000.00 to 5,000.002.000
Over 5,000.00 to 9,995.005.000

Part B
Securities which are authorised by the Exchange to be traded in accordance with the scale of spreads in this Part B and all debt securities shall be traded in accordance with the following scale of spreads:

Price Range (HKD)Minimum Bid Size
From 0.50 to 9,999.950.050

Part C
Exchange Traded Options shall be traded in accordance with the scale of spreads as set out in the Operational Trading Procedures.

Part D
Exchange Traded Funds, other than those securities covered under Part B, shall be traded in accordance with the following scale of spreads:

Price Range (HKD)Minimum Bid Size
From 0.01 to 1.000.001
Over 1.00 to 5.000.002
Over 5.00 to 10.000.005
Over 10.00 to 20.000.010
Over 20.00 to 100.000.020
Over 100.00 to 200.000.050
Over 200.00 to 500.000.100
Over 500.00 to 1,000.000.200
Over 1,000.00 to 2,000.000.500
Over 2,000.00 to 9,999.001.000
In the United States market, at what price can I submit my order?

For limit orders, you may submit at any price range with the following exception relative to the different US exchanges:

NYSE, NASDAQ and AMEX

  1. For counters with a Last Done Price that is more than or equals to one dollar, the limit price entered should not contain more than two decimal places.
  2. For counters with a Last Done Price that is less than one dollar, the limit price entered should not contain more than four decimal places.

 

OTC BB & Pink Sheet
For all counters, the limit price entered should not contain more than four decimal places.

In the United Kingdom market, at what price can I submit my order?

FTSE 100 Constituents

Price RangeBid Size
GBX/GBP/USD/EUR
Less than 0.99990.0001
1 - 4.99950.0005
5 - 9.9990.001
10 - 49.9950.005
50 - 99.990.01
100 - 499.950.05
500 - 999.90.1
1000 - 4999.50.5
5000 – 99991
10000 or more5


FTSE 250 Constituents

Price RangeBid Size
GBX/GBP/USD/EUR
Less than 0.50.0001
0.5 - 0.99950.0005
1 - 4.9990.001
5 - 9.9950.005
10 - 49.990.01
50 - 99.950.05
100 - 499.90.1
500 - 999.50.5
1000 - 49991
5000 - 99955
10000 or more10

For bid sizes of other product segments, please refer to LSE website.

What price can I submit my orders for Australia Market?
Price RangeBid Size
AUD
Less than 0.1000.001
0.100 – 1.9950.005
2.00 or more0.01
What price can I submit my orders for Japan Market?

TOPIX 100 Constituents

Price RangeBid Size
JPY
Up to 1,0000.1
Up to 3,0000.5
Up to 10,0001
Up to 30,0005
Up to 100,00010
Up to 300,00050
Up to 1 million100
Up to 3 million500
Up to 10 million1,000
Up to 30 million5,000
Over 30 million10,000


Other Product Segments

Price RangeBid Size
JPY
Up to 3,0001
Up to 5,0005
Up to 30,00010
Up to 50,00050
Up to 300,000100
Up to 500,000500
Up to 3 million1,000
Up to 5 million5,000
Up to 30 million10,000
Up to 50 million50,000
Over 50 million100,000