Information for trading on the Canada Exchange
Trading hours (SGT)
Non-Daylight Trading hours Continuous Trading: 10.30pm - 5am Daylight Trading hours Continuous Trading: 9.30pm - 4am Currency CAD Trading Lot Varies Settlement period T+2 market days Order Placement Via your designated Trading Representative
Commission rate and charges
Minimum bid size
Share price Minimum bid size (CAD) <C$0.50 C$0.005 C$0.50 - C$1,000 C$0.01 > C$1,000 C$0.125
Information for trading on AMEX, NYSE and NASDAQ
Trading hours (SGT)
Monday - Friday
Daylight Saving commences from second Sunday of March till the first Sunday of November:
Non-daylight saving 10.30pm - 5am Daylight saving 9.30pm - 4am Currency USD Price Quote Delay 20min (NYSE & AMEX), 15min (NASDAQ) Use CPF No Trading Lot 1 Settlement period T+2 market days Order Placement Via iOCBC or your designated Trading Representative
Commission rate and charges
US Live Price Feed Subscription
Contact your Trading Representative to subscribe to Live Price Feed for the US markets at S$10 per month.
Minimum bid size
Share price Minimum bid size < US$1.00 US$0.001 > US$1.00 US$0.01
U.S. Securities and Exchange Commission (SEC) Tick Pilot Program
The SEC will be launching a two-year pilot program on 3 October 2016 where the main impact to our retail customers is that certain securities will trade with USD 0.05 minimum tick size increments. For more information on the affected symbols and the minimum increments applicable within each Test Group, please refer to the NASDAQ and NYSE websites.
Please refer to the table below for the implementation timeline. For more background information on the program, please refer to the National Market System (NMS) Plan approved by the SEC.
Date Affected Symbols Details 3 Oct 2016
5 symbols from Test Group 1 – JAKK, ISCA, FET, CFI, SGA
5 symbols from Test Group 2 – GBT, TTS, HUBS, RATE, ERN
All other symbols assigned to Test Group 1, Test Group 2 or Test Group 3 will be placed into the Control Group (i.e. quoted and traded at any price increment currently permitted) until they are activated in their respective group on later dates.
NYSE, Nasdaq and FINRA symbol lists will be updated accordingly.
10 Oct 2016
Test Group 1 – 100 Symbols
Test Group 2 – 100 Symbols
17 Oct 2016
Test Group 1 – 400 Symbols
Test Group 2 – 400 Symbols
Test Group 3 – 5 Symbols – CACQ, CLFD, ATTO, PRTY, DIT
All Test Group 1 and 2 symbols will be live.
24 Oct 2016
Test Group 3 – 100 Symbols
31 Oct 2016
Test Group 3 – 400 Symbols
All Test Group 3 symbols will be live
iOCBC does not participate in extended trading hours
iOCBC does not participate in Pre-Open and Pre-Close extended trading hours. Any US orders submitted via iOCBC before 9.30am (Eastern Time) will only be processed after 9.30am (Eastern Time) and routed to the Exchanges.
If you have entered a higher buying price or a lower selling price than the opening price, your order will be executed based on the prevailing market conditions after market opens at 9.30am (Eastern Time).
Viewing quotes and placing orders
The following trading abbreviations will appear in the “Remarks” column on iOCBC trading platform.To find out more information on the corporate action or trading status on the listed companies, kindly refer to the official websites of the respective Exchanges.
Abbreviation Trading Status XD Ex-Dividend PXD Prior ex dividend CD Cum Dividend CC Cum Capitalisation CR Cum Rights XV Ex-Various CTO Cum Takeover Offer XTO Ex Takeover Offer CCV Cum Right of Conversion XCV Ex Right of Conversion CPR Cum Premium Return XPR Ex Premium Return NXI New Ex Interest XI Ex Interest CI Cum Interest CL Call Due CP Call Paid CW Cum Warrants XW Ex Warrants CE Cum Entitlement XE Ex Entitlement CB Cum Bonus XB Ex Bonus XCD Ex-Cash Dividend XDC Ex-Dividend and Capitalisation XDR Ex-Dividend and Rights XDI Ex-Dividend, Ex Capitalisation & Ex Rights XZ Ex-Drawing Rights XO Ex-Other XP Ex-Part Repayment XS Ex-Settlement XSD Ex-Stock Dividend XSS Ex-Stock Split CSS Cum Stock Split CCR Cum Capital Return XCR Ex-Capital Return CA Cum All CLD Cum Liquidation Distribution XLD Ex-Liquidation Distribution XRC Ex-Rights and Capitalisation XAZ Ex-Deficiency Payment CXE Cum and Ex Entitlement EEB Ex-Dividend, Ex-Bonus EBE Ex-Dividend, Ex Underwriting EEE Ex-Dividend, Ex-Bonus, Ex Underwriting BGB Reverse Split EGB Ex-Dividend, Reverse Split EGE Ex-Dividend, Reverse Split, Ex Underwriting EHB Ex-Dividend, Bonus after Reverse Split EHE Ex-Dividend, Bonus after Reverse Split, Ex Underwriting BEE Ex-bonus, Ex Underwriting S Stabilisation indicator set XSR Ex-subscription right XAR Ex-adjustment right XAJ Ex-adjustment CSR Cum subscription right H Note Abbreviation Trading Status CLS Market closed CQ Closing quotation NQ No quotation R Regular supplied by Consolidated Quotation System (CQS) HAI Trading Halt IMB Trading Halt, Order Imbalance TRE Long Quote EQP Trading Halt, Equipment Changover IND Indicative quote CBA Circuit Breaker L1 CBB Circuit Breaker L2 CBC Circuit Breaker L3 TRE Long Quote IND Price Indication
American Depositary Receipt (ADR)
An ADR allows an investor to trade in non-US companies stocks in the United States instead of investing through the overseas exchanges. An ADR investor receiving shares of such foreign companies stocks will be charged with ADR fees by ADR agents to compensate them for inventorying the non-US shares and performing registration, compliance, dividend payment, communication, and recordkeeping services.
The ADR fee amount and frequency of charge will differ depending on each ADR and customer may refer to the relevant ADR prospectus for more details.
Global Depositary Receipt (GDR)
The global equivalent of an ADR, a GDR is issued by a depository bank which allows an investor to trade in stocks of a foreign company in more than one country. GDR agents will charge GDR fees as compensation for inventorying the foreign shares and performing registration, compliance, dividend payment, communication, and recordkeeping services.
The GDR fee amount and frequency of charge will differ depending on each GDR and customer will be charged accordingly.
Customers who wish to trade in US shares (NYSE, Nasdaq and Amex) are required to complete the W-8Ben Form. Forms submitted is valid for 3 years. The purpose of W-8BEN Form is for US Inland Revenue Tax Purpose and is compulsory for all non-US citizens and residents. You are not able to trade in the US market if you are a US citizen or a green card holder.
Customers who wish to trade in US shares are required to sign and submit the original W-8BEN form to OCBC Securities before commencement of trading.