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Market Rules

1.    U.S. Stock Exchanges

US EST:

Premarket session: 04:00-9:30; Regular trading hour: 09:30-16:00; Aftermarket session: 16:00-20:00.

Beijing time:

DST: Premarket session: 16:00-21:30; Regular trading hour: 21:30-04:00; Aftermarket session: 04:00-08:00.


WT: Premarket session: 17:00:00-22:30; Regular trading hour: 22:30-05:00; Aftermarket session 05:00-09:00.


2.    Minimum trading unit for U.S. stocks


Unlike A shares and HK stocks where the minimum trading unit is 1 lot, in the U.S. the minimum trading unit is 1 share.


3.    Price movements of U.S. stocks


Unlike A shares, U.S stocks are not subject to single-day price rise and fall limits, therefore investors should carefully monitor price movements.


4.    Day trading of U.S. stocks


Day trading involves high risk. Before you start trading, please read the Risk Exposure toIntraday Trading.


Day trading, refers to a trading where a client buys or sells positions of a stock or stock option within one trading day. Day trading is also generally referred to as T+0 trade.


For day trading, clients  are not subject to frequency or capital limits.


5.    U.S. stock settlement and delivery mechanism


U.S. stocks follow T+2 settlement arrangements where clearing and settlement will be completed on the second working day after the trade is transacted.


6.    U.S. Stock Markets

(1)   New York Stock Exchange (NYSE)


The oldest and second largest exchange by volume in the U.S.


(2)   Nasdaq Stock Market (NASDAQ)


NASDAQ is the largest exchange by volume in the U.S.


(3)   American Stock Exchange (AMEX)


AMEX is currently the third largest stock exchange in the U.S.


(4)   Pink Sheet Exchange (PK)


The Pink Sheet Exchange serves as the primary OTC exchange in the U.S.


(5)   Over-the-Counter (OTC)


OTC markets refer to stock exchange markets on counters of various stock exchange institutions where shares are traded without a formal listing.

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