Trading session overview

On a normal trading day, the Hong Kong securities market is divided into three trading sessions:

Pre-opening auction session
Continuous trading session
Closing auction session

For detailed timing, refer to HKEX's official information: https://www.hkex.com.hk/Services/Trading-hours-and-Severe-Weather-Arrangements/Trading-Hours/Securities-Market

Sessions supported by UMX

UMX supports trading in the following sessions via limit order:

Continuous trading session (CTS)
Auction + Continuous trading session (AUC + CTS)

Note:

Your order will only be matched in the corresponding session if its price meets the conditions set by HKEX.

Trading session selection guide

Continuous trading session (CTS)

When you select this:

The order is submitted to the exchange as an enhanced limit order.
The order is eligible for matching during the continuous trading session.
After the continuous trading session ends, for securities eligible for the closing auction session:
- If the bid price doesn't exceed the price cap and the ask price isn't below the price floor, the unfilled order automatically carries over to the closing auction session, where it's treated as an at-auction limit order.

Auction + Continuous trading session (AUC + CTS)

When you select this option, the order will be submitted for matching during the next applicable auction session or continuous trading session:

A. Orders submitted during the pre-opening session

Participates in the pre-opening auction as an at-auction limit order. After this ends, if the order remains unfilled and its specified price doesn't deviate by nine times or more from the nominal price, the order will be automatically carried forward to the continuous trading session and treated as a limit order.

B. Orders submitted during the continuous trading session

Participates in matching during the continuous trading session as an enhanced limit order. After the continuous trading session ends, for securities eligible for the closing auction session:

If the bid price doesn't exceed the price cap and the ask price isn't below the price floor, the unfilled order automatically carries over to the closing auction session, where it's treated as an at-auction limit order.

C. Orders submitted during the closing auction session

All limit orders participate in the auction as at-auction limit orders.
The order ends if it expires at the end of the closing auction session. Otherwise, it carries over to the next trading day.

By selecting the session that fits your trading strategy, you can trade Hong Kong securities more effectively.