TERMS AND CONDITIONS OF USING CONDITIONAL ORDERS

Conditional order at SSI Securities Corporation (SSI) is the tool to support Client to buy/sell at the pre-determined price based on order triggering conditions. When Client chooses to place a conditional order, SSI understands that Client has read, fully understood regulations/operating principles of conditional orders and agrees to apply, co-operate and follow the Terms and Conditions as prescribed by SSI, including but not limited to the following terms: 

CONDITIONAL ORDERS USER GUIDE

3. Order validity period:

• Effective date: The starting effective date. From this day, orders which match criteria will be triggered
• Expiration date: The ending effective date by hour (maximum 1 month from effective date). After this time, The COOs and arising orders from COOs will be expired

4. Trigger type:

• Sending only one order: The order is only activated once when the conditions are satisfied within the validity period
• Sending orders until full matching: The order is triggered many times/many days until being fully matched within the validity period. Order that has been arisen but has not been fully filled/filled will be continuing to arise at 8:30 AM on the next trading day if the order satisfies the balance, price and trading limit conditions.

5. Place order and check order book information

CONDITIONAL ORDER BOOKS

1. Choose Account Management > Order book > Conditional tab

2. Order status including:

- Awaiting conditions: Waiting for matching set criteria

- Activated: Reached conditions and has been trigged

- Completed: Has completed the activation cycle and will no longer be generated on validity period. Order has completed the activation cycle when it is fully matched.

- Cancelled: Customers cancel COOs or cancel arising orders

- Expired: Over the validity period

3. Click the stop icon (the red button) to cancel COOs

1. At the Conditional Order book screen, click icon “eye” (the green button) to view detail of activated orders

 

Original Conditional Order Book

1. At the Normal Conditional Order Books, click icon (i) at the status column to view the Original conditional order book detail

Instruction of placing order:

1. Price: Limit Price

2. Choose Effective date & Expiration date:

   Orders with multi-day validity will be activated at 8:30 AM daily if the conditions on price, stock balance and purchasing power are satisfied. In the trading session of the effective date, the order will be activated immediately after placing.

3. Trigger type: Sending orders until full matching

Example

On 06/04/2023, customer A wants to sell 1000 SSI with price 26. He places GTD with Price 26, Volume 1000, Effective Date 06/04/2023, Expiration Date 05/05/2023 (23:59) 

STOP – STOP WITH MARKET ORDER

STOP (STOP with Market Order) are Buy/Sell orders with market price and pre-defined trigger price at the time of placing orders. The order is activated when the price & balance conditions are satisfied during the continuous execution session. In case the order satisfies the price condition but does not satisfy other conditions, at 1:00 PM during the day, the system will re-check the activation condition with the target trigger price again.

Instruction of placing order:

1. Choose trigger condition: ≥ or ≤  trigger price

2. Trigger Price: The price that determines the trigger point of STOP Order

3. Price: Market price ( MTL for HOSE – equity, MTL for HNX equity, derivatives)

4. Choose Effective date & Expiration date

5. Trigger type: Sending only one order or sending orders until full matching

STOP LIMIT – STOP WITH LIMIT ORDER

Stop Limit (Stop with Limit Order ) are Buy/Sell orders with price order is limit order and pre-defined trigger price at the time of placing orders.

The order is activated when the price & balance conditions are satisfied during the continuous execution session. In case the order satisfies the price condition but does not satisfy other conditions, at 1:00 PM during the day, the system will re-check the activation condition with the trigger price.

Instruction of placing order:

1. Choose trigger condition: ≥ or ≤  trigger price

2. Trigger Price: The price that determines the trigger point of Stop Order

ØWith the condition ≥ Trigger Price: Order will be activated if  Market Price ≥  Trigger Price

ØWith the condition ≤ Trigger price: Order will be activated if  Market Price  ≤  Trigger Price

3. Price: Limit order

4. Choose Effective date & Expiration date

5. Trigger type: Sending only one order or sending orders until full matching

Example

SSI is trading at the price 25, customer A predicts the market has a downtrend and wants to buy into SSI with the expected price < 23, customer A places a Stop Limit order with the following parameters:

  Trigger Price: ≤ 23  Volume: 1000

  Order Price: 22.9  Trigger Type: sending orders until full matching

  Effective date: 10/04/2023  Expiration date: 17/04/2023 

Supposed that after customer places order, the market price of the SSI changes as follows: 

TRAILING STOP ORDER (TRENDING MARKET ORDER)

Trailing Stop Order (Trending Market Order) are Buy/Sell Orders with order price is automatically adjusted to follow the trend of the market, which help customers achieve the most optimal price.

In trading session,  when the adjusted trigger price hits the market price, order will be sent into the system with the order price is market price

If the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the system will continue to re-check trigger conditions

Instructions for Placing order

1. Enter Trailing Amount: is the difference between the Market Price and the Trigger Price when placing order

2. Initial trigger Price: is the provisional trigger price calculated at the time of placing the order, determined by the formula :

ØFor buy orders: Initial trigger price = Market price + Trailing amount

ØFor sell orders: Initial trigger price = Market price – Trailing amount

3. Order price: Is Market Price (MTL for HOSE – equity trading, MTL for HNX – equity and derivatives trading)

4. Select effective date and expiration date

5. Trigger Type: Sending only one order or Sending orders until full matching

TRAILING STOP BUY ORDER

Example

The current market price of SSI is 80. Customer predicts that market price will decrease and expects to buy SSI at the most optimal price that follow the trend of the market closely. Customer can place conditional order as follows:

TRAILING STOP SELL ORDER

Example

The current market price of MWG is 65 . Customer predicts that market price will increase and expects to sell MWG at the most optimal price that follow the trend of the market closely. Customer can place conditional order as follows:

ØTrailing STOP – sell 1000 MWG with trailing amount = 4

ØEffective date: 10/04/2023        Expiration date: 17/04/2023

ØTrigger type: Sending until full matching

At the first time (T1): Initial trigger price = Market Price - Trailing Amount = 61

At subsequent times, the market price increases => trigger price increases corresponding = MAX (Market Price - Trailing Amount, Previous Trigger Price)

At the fourth and eighth time, the market price decreases then increases but the new top point has not been created => trigger price remains unchanged

The market price continues to fluctuate until the market price hits the trigger price at the price of 85, the order is activated with price = market price as MTL, volume = 1000, the status of conditional order switches to activated

ØIf the order is fully matched: Order status is changed to Completed

ØIf the order satisfies the price condition but does not satisfy another conditions, at 1:00 PM during the day, the order’s status will be switched to Awaiting Conditions and the system will continue to check trigger conditions

ØOn the next trading day, if the conditional order is still valid, has been activated and has not been fully filled, the order will be sent to the exchange at the market price on continuous session.

→ Therefore, the Trailing STOP Sell Order helped customers achieve optimal point to sell when the market reverses with the principle of automatic slippage at the market price by a predetermined amount

When placing order (T1): Initial trigger price = Market Price + Trailing Amount = 105

                     Initial Price = Initial trigger price + Toler = 107

At subsequent times (T2-T3), the market price decreases => trigger price decreases corresponding = MIN (Market Price + Trailing Amount, Previous Trigger Price)

At the fourth and fifth time (T4-T5), the market price increases then decreases but the new bottom point has not been created => trigger price remains unchanged

The market price continues to fluctuate until the market price hits the trigger price (T10) at the price of 75, the order is activated with price = trigger price + toler = 77, the status of conditional order switches to activated

→ Therefore, the Trailing STOP Limit Buy Order helped customers achieve optimal point to buy when the market reverses with the principle of automatic slippage at the market price by a predetermined amount

TRAILING STOP LIMIT SELL ORDER

The current market price of FPT is 65 . Customer predicts that market price will increase and expects to sell FPT at the most best price that follow the trend of the market closely and optimize matching opportunity. Customer can place conditional order as follows:

1.Main order: Limit Buy/Sell order and will be the basis for generating conditional orders. If effective date is current date, orders placed from 8:30 AM to the end of trading session (HOSE, HNX exchange and Derivatives: 2:45 PM, UPCOM exchange: 3:00 PM) will be activated immediately after placing. Orders placed outside the above period or selected for multi-day validity will be activated at 8:30 AM daily if the conditions of cash balance, securities and purchasing power and other conditions as for normal orders are satisfied. In case the order satisfies the price condition but does not satisfy other conditions, at 1:00 PM during the day, the system will check the activation conditions with the target trigger price again.

2. Attached order to Take Profit: Limit Buy/Sell order in the opposite direction to the main order to take profit at the expected price

3. Attached order to Stop Loss: Limit Buy/Sell order in the opposite direction to the main order to stop loss