A. Account Opening Documents
- Document of Identity or Passport of the Client
- Proof of Residential Address within 3 months (eg. Utility Bills or Bank Statement)
Corporate (Hong Kong Company)
- Account Opening Form
- Current Articles of Association or other constitutional documents with amendments
- Valid Business Registration Certificate & Certificate of Incorporation
- Certificate of Incorporation and official certificates showing any change of name(s)
- Identity card or valid passport of each person authorized to operate the account
- Identity card or valid passport and proof of residential address issued within 3 months of each ultimate beneficial owners holding not less than 10% of the voting rights, share capital, capital, profits or vested interest (as the case may be)
- Latest Register of Director(s) & Registered of Member(s)
- Board Resolution or Certified Extracts in such form as may be approved by Going Financial (if the Certified Extracts of Board Resolutions in the application form is not applicable)
- Certificate of Incumbency issued by the registered agent issued within last 6 months or their respective equivalent (For Overseas Corporations Only)
- Latest Audited Financial Statement (for Hong Kong companies)
- Proof of Business Address (Utility bill, correspondence from a government department or agency, or statement issued by a licensed bank in Hong Kong or overseas that have been issued within 3 months.）
- W-8BEN-E Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities)
- Corporate FATCA Self-Certification
- Self Certification Form (Corporate/Controlling Person)
- Client Money Standing Authorization
- Please do not transfer or deposit before the confirmation of account opening application
- Deadline for deposit is 4:30 pm every day. Any deposits received after 4:30pm (whether by cheque or direct remittance) will be processed as next day deposits
- Customers must indicate the account name and account number on the deposit certificate or receipt, and notify via APP or email by email@example.com
- We do not accept the third-party deposits (including but not limited to transfers, remittances and check deposits, etc.) other than the customer himself
- Customers can use the APP or download the “Fund Withdrawal Form”, after completing and signing, please submit it by email (firstname.lastname@example.org) before 10:00 a.m. on a local bank business day. Any withdrawal instruction (whether local or telegraphic transfer) received after 10:00 am will be processed as next day withdrawal
- We do not accept the third-party withdrawal applications and deposits into the third-party accounts.
Information on different currencies
- What is Index futures?
In finance, a futures contract (more colloquially, futures) is a standardized contract between two parties to buy or sell a specified asset of standardized quantity and quality for a price agreed upon today (the futures price) with delivery and payment occurring at a specified future date, the delivery date, making it a type of derivative instrument. The contracts are negotiated at a futures exchange, which acts as an intermediary between the two parties. The party agreeing to buy the underlying asset in the future, the “buyer” of the contract, is said to be “long”, and the party agreeing to sell the asset in the future, the “seller” of the contract, is said to be “short”.
- Is it necessary to make a foreign currency deposit before buying and selling foreign futures?
It is not necessary. Customers can choose to deposit foreign currency, RMB or HKD, and then exchange the currency on the App to convert it into the relative futures deposit.
- Can Mini S&P 500 futures and S&P 500 futures be margin offset or position offset?
Cannot, suppose Investor A holds a long position of 5 nos. mini S&P 500 futures contracts and a short position of 1 no. S&P 500 futures contract, he still needs to maintain sufficient margin, that is, 5 nos. mini S&P 500 futures margin and 1 no. S&P 500 futures deposit, which cannot be offset. When closing the positions, they must also be closed separately, and the positions cannot be offset.
- I hold an open Hang Seng Index futures contract with a floating profit of HK$10,000, and also hold an open Nikkei 225 futures contract with a floating loss of HK$10,000, do I still need to fulfil the deposit?
It still need to maintain the individual margin requriment. The floating profit/loss of Hong Kong futures contracts and foreign futures contracts cannot be used to offset each other. However, the floating profit and loss of different futures contracts in foreign futures accounts can be offset against each other.
- When is trading hours for Hong Kong Hang Seng Index Futures market?
According to the Hong Kong Stock Exchange regulations, trading hours of the Hang Seng Index in Hong Kong futures market as follows:
|Trading Session||Trading Hours||Trading Hours on / Last Trading Day|
(Spot Month Contract)
|Morning Session||9:15 a.m. – 12:00 noon||9:15 a.m. – 12:00 noon||8:45 a.m. – 9:15 a.m.|
|Afternoon Session||1:00 p.m. – 4:30 p.m.||1:00 p.m. – 4:00 p.m.||12:30 p.m. – 1:00 p.m.|
|AHFT Session||5:15 p.m. – 03:00 a.m.||Not applicable||Not applicable|
Click here for other local index trading hours https://www.hkex.com.hk/Services/Trading-hours-and-Severe-Weather-Arrangements/Trading-Hours/Derivatives-Market?sc_lang=zh-HK
- If I buy a HSI index in markets, I did not sell the contract at last trading day and how to calculate my profit and loss?
The contract value is equal to the index points multiplied by HK$50 per points (Hang Seng Index future). On the Expiry Day the HKEx uses an average of index prices taken at five minute intervals over the trading day to determine the Official Settlement Price of the index. The final settlement price can be viewed on the HKEx website.
- What are the reporting levels and position limits of Futures/Options contract and other derivative products?
For the latest announcement about the reporting levels and position limits of Futures/Options contract and other derivative products, please refer to HKFE website as below: https://www.hkex.com.hk/chi/market/dv_tradfinfo/lop_c.htm
- When do I need to deposit the required margin call amount?
If the futures margin ratio falls to 0.8 or below, please deposit sufficient funds as soon as possible or close the position by yourself to return the margin level to 100%. If the futures margin ratio falls to 0.5 or below, our company reserves the right to perform forced liquidation at any time without prior notice.