What is Enhanced Limited Order?

ELO is similar to the limit order except that it will allow matching of up to two price queues at a time. The ask order price of ELO can be inputted at one spread lower than the current bid or the bid order price can be inputted at 1 spread higher than current ask price. Any unfilled quantity of ELO after matching will be stored in the System as a normal limit order at the input order price.

Order Validity Period

Good Till Date (GTD):

The customer may specify an expiration date for the order, up to a maximum of 90 days. Any unfilled portion of the order will automatically expire after the set date.

Good Till Cancelled (GTC):

The order remains active until the customer cancels it or it is completely filled. However, the system will automatically expire the order if it remains for more than 90 days.

Price Limit Rules

The order price must be within ±20% of the latest transaction price.

Buy orders: The price cannot be lower than latest price − 20%.

Sell orders: The price cannot be higher than latest price + 20%.

Order Placement and Modification Rules

Order placement time:

the trading day to 09:22 on the next trading day, during the continuous trading session of the next trading day (09:30 – 16:00).

Modification rules:

Once GTC or GTD orders are submitted:

The order type cannot be changed.

The validity period cannot be modified.

The price and quantity can be modified.

Cancellation Rules

After submission, any unfilled portion of an order can be cancelled at any time.

If the remaining quantity is fully filled during the cancellation process, the system will display the cancellation as unsuccessful because the order has already been completely filled.

The above information is for reference only, and everything has been based on the contents of the official website of the Hong Kong Stock Exchange (HKEX).

(https://www.hkex.com.hk/News/News-Release/2001/010206news?sc_lang=en)