The Hong Kong Stock Exchange (HKEX) enforces strict rules about acceptable price ranges for submitted orders. If your order price deviates significantly from the market price, HKEX will reject it. To help avoid this, we've introduced an execution protection mechanism that holds orders temporarily and submits them when they meet the required price conditions.
How the mechanism works
If your enhanced limit order deviates by more than 20 price levels from the market price during the continuous trading session, our system will hold the order within the trading platform to reduce rejection risks under extreme conditions. When the market price moves within the acceptable range, the order will be automatically submitted. Until then, its status will show as "Pending Submission", meaning it is protected by the system.
For buy orders: If your order price is more than 20 levels below the best bid price, the system will hold the order until the market price is within 20 levels.
For sell orders: If your order price is more than 20 levels above the best offer price, the system will hold the order until the market price is within 20 levels.
Execution protection mechanism ensures your orders are placed smoothly, reduces the chances of rejections caused by price deviatio, and improves your trading experience.