FAQs - Intraday Financing Trade
1. Which markets support Intraday Financing Trade ?
Long Bridge provides Intraday Financing Trade services for designated stocks in the Hong Kong and U.S. stock markets.
2. Trading hours for Intraday Financing Trade :
Hong Kong market:
09:30 - 15:40 (Hong Kong Time; GMT+8)
U.S. market:
Daylight Saving Time: 16:30 - 03:40 (Hong Kong Time; GMT+8)
Standard Time: 17:30 - 04:40 (Hong Kong Time; GMT+8)
Note: Intraday Financing Trade is not supported during the after market.
3. Are all stocks eligible for Intraday Financing Trade ?
Not all stocks support Intraday Financing Trade. If you want to check whether a specific stock supports Intraday Financing Trade, you can go to the Longbridge App, select daytrade account, then select the stock, and click on "Support Financing" for more information (see the screenshot below). For the list of eligible stocks for Intraday Financing Trade, please click on this link
4. Does Intraday Financing Trade support auction orders for Hong Kong stocks?
Intraday Financing Trade accounts do not support auction orders for the Hong Kong market.
5. Does Intraday Financing Trade support pre-market orders for U.S. stocks?
Intraday Financing Trade accounts can place orders after the first 30 minutes of the pre-market session for U.S. stocks.
6. What happens if I use Intraday Financing Trade but fail to close my position before the market closes?
If you use Intraday Financing Trade, you must close your position 15 minutes before the market close to meet the company's margin requirements. If you fail to do so, Long Bridge will initiate a forced position liquidation without prior notice, selling off the securities in your Intraday Financing Trade account to settle the debit balance and and cancel all orders.
7. What happens if the net assets of my Intraday Financing Trade account fall below the maintenance margin?
If the net assets of your Intraday Financing Trade account fall below the maintenance margin, Long Bridge will liquidate the securities in your Intraday Financing Trade account without prior notice.
8. What happens if I'm unable to close my position due to low liquidity in a particular stock?
If market conditions, such as low liquidity, make it difficult or impossible for you or Long Bridge to close a position, Long Bridge reserves the right to sell any securities or assets in any account you hold with us to offset the relevant position without prior notice.
9. What should I do if my held stocks are suddenly suspended from trading?
During trading hours, the used buying power remains unchanged until the position is closed due to the account's debit balance before the market closes. The portion that cannot be closed will be settled.
If there is still a debit balance after settlement, the intraday credit limit will be revoked. In such cases, you need to make a deposit to bring your balance back to a positive value and reapply for the credit limit.
10. What are the consequences if I can't fulfill my settlement obligation?
Clients are required to fulfill the settlement obligations for their positions. If you fail to fulfill the settlement obligation due to closing positions, offsetting positions, or forced liquidation, you will be required to pay additional fees and interest as determined by Long Bridge. Details of these fees and interest can be found on our App and website and are subject to updates without prior notice.
11. Is there a limit to the borrowing amount in Intraday Financing Trade ?
In general, the borrowing amount is usually not more than HKD 1 million, depending on the client's asset portfolio and approval results.
12. Is currency financing allowed?
Yes, if you deposit Hong Kong dollars into your Intraday Financing Trade account, you can trade U.S. stocks within the account. However, please note that even if your account has sufficient overall cash balance, losses from currency financing may result in a debit currency balance, leading to interest expenses. You can choose to make a deposit or convert currency (if applicable) to cover the debit balance.
13. Will interest charges be incurred if I fail to settle the debit balance in time during the intraday trading period?
Yes, any debit balance will incur financing interest charges. The interest rate and calculation formula can be found in the fee schedule at https://longbridge.hk/rate
14. If extreme weather conditions occur during trading hours, how will intraday financing trading be arranged?
Long Bridge may close the financing limit of intraday financing accounts at any time in response to extreme weather conditions (e.g. black rainstorm warning or typhoon signal No. 8 (or above), etc.).
If you use intraday financing, you must close your position 15 minutes before the market closes to meet the company's margin requirements. If you fail to close your position within the specified time, Long Bridge will implement a forced liquidation mechanism. Long Bridge will close the stock position in your intraday financing account until there is no debt and cancel orders without notifying you in advance.