What is a Two-Way Sell Order?

Two-Way Sell Order is a sell order, which can help you to lock profits and / or limit potential losses in a single instruction.

When placing a Two-Way Sell Order, you can simultaneously pre-set:

• Target Sell Order: to take profit at the Target Price
• Sell Stop-Limit Order: to activate stop loss function at the Stop Price, at which your shares will be sold at the market price but not lower than the Lowest Limit Price

Two-Way Sell Order combines the benefits of both "Target Sell Order" and "Sell Stop-Limit Order", your sell order will be executed when the market price of the stock rises to a level equal to or better than the Target Price, or falls to or below the Stop Price.

This powerful order type allows you to sit back through market fluctuation!

Setting up a Two-Way Sell Order

How to set up a Two-Way Sell Order?

1. Log on to your BOOM account;
2. "Trade & Status" > "Place Order" > "2-Way Sell";
3. On Two-Way Sell Order screen, select the Good-Till Date, enter the Target Price and Quantity for the "Target Sell" part, and the Stop Price, Lowest Limit Price and Quantity for the "Stop-Limit Order" part;
4. Tick the checkbox and click [Preview Order] button to review the order;
5. Review the order details and click [Submit] button to send the order;
6. Two-Way Sell Order is received. On the confirmation page, you will find separate Order IDs for the "Target Sell Order" and "Sell Stop-Limit Order".

Can I place a Two-Way Sell Order with a Good Till Date?

Yes. You can set a Good Till Date of up to a maximum of 30 calendar days for the order.

Can I enter two different Good Till Dates for the "Target Sell" and "Sell Stop-Limit" parts of my Two-Way Sell Order?

No. You must enter the same Good-Till Date for both the "Target Sell" part and the "Sell Stop-Limit" part of your Two-Way Sell Order.

How to determine the price levels to enter?

When you enter a Two-Way Sell Order, please follow the rule below:

Can I enter different quantities for the "Target Sell" and "Sell Stop-Limit" parts of my Two-Way Sell Order?

Yes. You can set different quantities for the "Target Sell" part and the "Sell Stop-Limit" part.

How much stock will be withheld for my Two-Way Sell Order?

When placing a Two-Way Sell Order, stocks to be withheld are based on the quantities of the "Target Sell" part or the "Sell Stop-Limit" part of the Two-Way Sell Order, whichever is higher.

Two-Way Sell Order Activation

How does "Two-Way Sell Order" work?

Two-Way Sell Order is a "One-cancel-the-other" type of sell order. Although it combines a "Target Sell Order" and a "Sell Stop-Limit Order", only one of the two sell orders will be executed. When either order is executed, the other will be cancelled automatically.

When will the "Target Sell" part of my Two-Way Sell Order be executed? If executed, what will happen to the "Sell Stop-Limit" part?

In a rising market, when the market price of the stock has reached your pre-set Target Price, the "Target Sell" part of your Two-Way Order will be executed.

If the "Target Sell" part is partially or fully executed, the "Sell Stop-Limit" part of your Two-Way Sell Order will be automatically cancelled at once.

We will inform you of such cancellation together with the order execution in the confirmation email.

When will the "Sell Stop-Limit" part of my Two-Way Order be activated? If executed, what will happen to the "Target Sell" part?

In a falling market, when the market price of the stock has reached or passed your pre-set Stop Price, the "Sell Stop Limit" part of your Two-Way Sell Order will be triggered and activated.

If the "Sell Stop-Limit" part is partially or fully executed, the "Target Sell" part of your Two-Way Sell Order will be automatically cancelled at once. You will receive an email notice about such cancellation.

When the Target Price is reached, what will happen to the unfilled quantity of the "Target Sell" part?

Any unfilled quantity of the "Target Sell" part of your Two-Way Sell Order will be carried forward till the end of the good-till date.

Once the Stop Price is triggered, what will happen to the unfilled quantity of the "Sell Stop-Limit" part?

Once the Stop Price is triggered, any unfilled quantity of the "Sell Stop-Limit" part of your Two-Way Sell Order will be expired at the close of the trading day.

What will happen if "Sell Stop-Limit" part is triggered but not executed?

If the "Sell Stop-Limit" part of your Two-Way Sell Order is triggered but not filled, it will be expired at the close of the trading day. While the "Target Sell" part of your Two-Way Sell Order will remain valid and be carried forward till the end of the good-till date.

Order History, Amendment and Cancellation

How to check the status of my Two-Way Sell Order?

On the menu bar, go to "Trade & Status" > "Status and History" > "Pending Order / Intraday Executions". You can check the current order status of both the "Target Sell" part and the "Sell-Stop Limit" part of your Two-Way Sell Order.

Can I amend my Two-Way Sell Order?

Yes. You can amend any pending Two-Way Sell Order. However, the amendment is limited to:

Can I cancel my Two-Way Sell Order?

Yes. Before the order is fully executed, you can cancel either one or both parts of your Two-Way Sell Order. Simply select the order (s) to cancel and press [Confirm].

Can I just cancel the "Target Sell" part or "Sell Stop-Limit" part of my Two-Way Sell Order and keep the other part valid?

Yes. If you only cancel one part of your Two-Way Sell Order, the other part will remain valid until it is executed / cancelled / expired.

After I cancel the "Target Sell" or "Sell Stop-Limit" part of my Two-Way Sell Order, can I set up a new part?

No. You cannot set up a new part to an existing Two-Way Sell Order. However, you can cancel the current Two-Way Sell Order and create a new one.

Are there situations that the Two-Way Sell Order may be cancelled automatically?

Yes. You must be aware that the Two-Way Sell Order may be cancelled automatically under certain conditions. Those conditions include (1) the stock related is suspended for trading, or (2) the stock price is adjusted significantly due to corporate actions.

When the Two-Way Sell Order is cancelled by our system, a notification email will be sent to you immediately. However, if you cancel the Two-Way Sell Order by yourself, no notification email will be generated.

Points to Note

Two-Way Sell Order Features and Constraints

1. Your Two-Way Sell Order must abide by the following rule:
   1. Must enter a Target Sell Order and a Sell Stop-Limit Order for the same stock at the same time; and
   2. Set up the same Good-Till Date for both the Target Sell part and the Sell Stop-Limit part; and
   3. The Target Price of the Target Sell part should be higher than or equal to the Market Price; and
   4. The Stop Price of the Sell Stop-Limit part must be lower than the Market Price; and
   5. The Lowest Limit Price of the Sell Stop-Limit part must be lower than Stop Price and cannot be lower than $0.01.
   6. i.e.: Target price >= Market price > Stop Price > Lowest Limit Price >= $0.01
2. There will be validation check on the stock holdings when Two-Way Sell Order is entered. Stocks to be withheld are based on the quantities of the Target Sell part or the Sell Stop-Limit part of the Two-Way Sell Order, whichever is higher.
3. If the market price has reached the Target Price, the Target Sell part of your Two-Way Order will be executed.
   1. When Target Sell part is executed (partially / fully), the Sell Stop-Limit part will be automatically cancelled immediately.
   2. Any unfilled quantity of the Target Sell part of your Two-Way Sell Order will be carried forward till the end of the good-till date.
4. If the market price has reached or passed the Stop Price, the Sell Stop-Limit part of your Two-Way Order will be triggered and activated.
   1. When the Sell Stop-Limit part is executed (partially / fully), the Target Sell part of your Two-Way Order will be automatically cancelled immediately.
   2. Once the Stop Price is triggered, any unfilled quantity of the Sell Stop-Limit part of your Two-Way Sell Order will be expired at the close of the trading day.
   3. If your Sell Stop-Limit part of your Two-Way Sell Order is triggered but not filled, it will be expired at the close of the trading day. While the Target Sell part of your Two-Way Sell Order will remain valid and be carried forward till the end of the good-till date.
5. In the Hong Kong market Pre-opening Session,
   1. If the market price is equal to or exceed your pre-set Target Price, the Target Sell part of your Two-Way Order may be executed. Unfilled quantity will be carried forward to the Continuous Trading Session; and
   2. If the market price is equal to or below your pre-set Stop Price, the Sell Stop-Limit part of your Two-Way Order may be triggered, but will only be executed in the Continuous Trading Session.
6. Before any one order in your Two-Way Sell Order is fully executed and filled, you can cancel any one or both parts of the Two-Way Sell Order. However, you must accept any execution of your order that the quantities are filled before such cancellation.
7. Amendment of Two-Way Sell Order is limited to:
   1. Target Price and Quantity of the Target Sell Order; and
   2. Good-Till Date, which applies to both Target Sell Order and Sell Stop-Limit Order.
8. Odd lot quantities are not acceptable for Two-Way Sell Order.
9. Your Two-Way Sell Order will be cancelled when (1) the stock is suspended for trading, or (2) the stock price is adjusted significantly due to corporate actions.
10. Two-Way Sell Order is only applicable to stocks traded in HKEX with reasonable liquidity.
11. Depends on market condition,
    1. the Two-Way Sell Order once activated, can be fully executed immediately; and
    2. there is a possibility that a Two-Way Sell Order may not be executed even if the price of the respective stock has hit the specified triggering level.
12. All Features and Constraints of Sell Stop-Limit Order shall apply.
13. Upon submission of a Two-Way Sell Order, you will be deemed to have accepted the terms and conditions of the Sell Stop-Limit Order, and understood and accepted all of the features and constraints of Sell Stop-Limit Order and Two-Way Sell Order.