United States (NYSE, NYSE-MKT, NASDAQ) Aus

Launch of New U.S. Market Order Types

We have just launched 3 new U.S. market order types: Market Order, Market On Open (MOO) and Market On Close (MOC).

  1. What is a Market Order?
    • A market order is an order placement with a defined quantity but without a price. It will be traded at the best price currently available in the market.
  2. What is Market on Open?
    • A MOO order is an order placement with a defined quantity but without a price. It is placed before a market is opened and will trade at the best price when the exchange starts trading. It is an order to execute at the day’s opening price.
  3. What is Market on Close?
    • A MOC order is an order placement with a defined quantity but without a price. It is placed during the market trading session and will be executed at the closing. It is an order to execute at the day’s closing price.
  4. When can I start placing a Market Order, MOO and MOC?
    • A market, MOO and MOC orders can only be placed 80 minutes before the start of a market session. The purpose is for better risk management as the pre-market prices indicated then will be a better and more accurate reflection of the asset price at open.
  5. What is the cut-off time for placing an order?
    • Order Type Market Cut Off Time
      MOO All 2 mins before market opens
      MOC NASDAQ 5 mins before market closes
      NYSE 15 mins before market closes

More information about Market, MOO & MOC order

Brokerage
  Online Trades Broker-Assisted Trades
Commission 0.3% 0.5%
Minimum USD 20 USD 25
Exchange fees:
Securities and Exchange Commission (SEC) Fee 0.00207%^ (sell trades) 
Trading Activity Fee (TAF) Applicable only for sell trades at USD 0.000119 per share, subject to maximum of USD 5.95. (With effect from 19th February 2018)
Other charges/exchange fees:
Financial Transaction Tax 0.3% (Buy trades only, applicable for French ADRs with market cap >= EUR 1 B)
0.1% (Buy trades only, applicable for Italian ADRs with market cap >= EUR 500 M)
American Depository Receipt (ADR) / Depository Receipt (DR) fee Varies for each counter

Note: Goods & Services Tax (GST) will be applied to commission charges. Commission and exchange fees may be subject to change without prior notice. Please click here for custodian charges.

^With effect from 18 February 2020, United States’ SEC Fee will be revised from 0.00207% to 0.00221%. For more information, please visit https://www.sec.gov/news/press-release/2020-7

Trading Details
Order Placement Via

1) POEMS or

2) Your designated Trading Representative or

3) Night dealer (US Trading Hours)

 

Trading lot 1 share
Live price Via POEMS (live price quote)
Exchange NYSE, NASDAQ and NYSE-MKT
Order Type1 Limit Order, Stop Limit Order, Market Order, Market on Open Order, Market on Close Order
Minimum bid size2 Share price (USD) Minimum Bid Size (USD)
<1 0.0001
≥1 0.01

 

Order Type Market Cut Off Time
MOO All 2 mins before market opens
MOC NASDAQ 5 mins before market closes
NYSE 15 mins before market closes
Trading Hours
Singapore Time 10.30pm – 05:00am
09:30pm – 04:00am

(during Daylight Saving Time3)
US(Eastern) Time 09:30am – 04:00pm

Orders will not be done during Pre-Opening and Pre-Closing as Phillip Securities does not provide extended trading hours.

Orders for the next trading day will be accepted 15 minutes after current trading day market closes.

Settlement
Settlement Date4 T+2 market days
Settlement Currency USD or SGD
Order Amalgamation No
Contra Trading Yes
CPF settlement No

Note: For payment methods, click here.

Holidays (2020)

2020

Month Day Date Holidays Settlement Trading Day
January Wednesday 01 January New Year’s Day No No
Monday 20 January Martin L. King Day No No
February  Monday 17 February Presidents’ Day No No
April Friday 10 April Good Friday No No
May Monday 25 May Memorial Day No No
July Friday 03 July Indep. Day Early Close (obs) No No
September Monday 07 September Labor Day No No
October Monday 12 October Columbus Day No Full
November Wednesday 11 November Veterans’ Day (obs) No Full
Thursday 26 November Thanksgiving No No
Friday 27 November Day After Thanksgiving Yes Partial
December Thursday 24 December Day Before Christmas Yes Partial
Friday 25 December Christmas Day No No

Note: Information is correct at the time of posting

US Daylight Saving Time starts on 2nd Sunday of March to 1st Sunday of November

  1. Orders will be executed at the prevailing market price which will be the same as or better than the order price. Note that your orders might be partially filled.
  2. Share prices that are USD1 or higher are only subject to a maximum of 2 decimal places for NASDAQ, NYSE-MKT and NYSE orders.
  3. Daylight Saving Time starts on 2nd Sunday of March to 1st Sunday of November,should the due date coincide with a:
    a) Singapore public holiday – The due date will follow the traded market's due date.
    b) US public holiday – The due date will be the following market day after the US public holiday.
  4. Where a holiday falls on a Saturday, NYSE-MKT / NYSE / NASDAQ will be closed on the preceding Friday, and there will not be a market day on that preceding Friday.
    Where a holiday falls on a Sunday, NYSE-MKT / NYSE / NASDAQ will be closed on the Monday following that Sunday, and there will not be a market day on that Monday.