Markets Offered

United States (NYSE, NYSE-MKT, NASDAQ)

US extended hours trading is available on the POEMS suite of trading platforms (POEMS 2.0), POEMS Mobile 2.0, POEMS Pro, POEMS Mobile 3.0), where you can place trades FIVE and a half hours before the commencement of US regular trading hours and 90 minutes after the US regular trading.

  1. What is extended hours?

    Extended hours refers to the trading hours outside regular trading sessions including both pre-market and post-market. POEMS NOW OFFERS you Pre and Post-Market trading between 1600hrs – 2130hrs SGT and 0400hrs – 0530hrs SGT (for Non-Daylight between 1700hrs – 2230hrs SGT and 0500hrs – 0630hrs SGT).


  2. What time are the extended hours?
    Pre-Market Start Time Pre-Market End Time Regular Market Start Time Regular Market End Time Post-Market Start Time Post-Market End Time
    Eastern Standard Timing (EST) 04:00 09:30 09:30 16:00 16:00 17:30
    Singapore timing (Daylight) 16:00 21:30 21:30 04:00 04:00 05:30
    Singapore timing (Non-Daylight) 17:00 22:30 22:30 05:00 05:00 06:30

    *Unfilled Extended+RTH orders will be auto-withdrawn by the system after 1730 EST.

  3. What time will the extended hours quote be available?

    Extended hours quote will be available from 1600hrs – 2130hrs SGT & 0400hrs – 0530hrs (for Non-Daylight between 1700hrs – 2230hrs SGT & 0500hrs – 0630hrs)


More FAQs about US Extended Hours Trading

More information about US Extended Hours Trading

  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 Order, MOO and MOC orders can be placed on the trading day from 0900 EST till US market close at 1600 EST (subject to cut off time below). Any order placements outside of the allowed hours will be rejected with effect from 12 September 2022.
  5. What is the cut-off time for placing an order?
    Order Type Market Cut Off Time
    (Before market open/close)
    Order Entry Order Withdrawal
    Market on Open(MOO)Marketable Limit Orders prior to open NYSE No cut off on both Order Entry or Withdrawal
    NASDAQ 2 mins 5 mins
    AMEX 5 secs 1 min
    Market on Close(MOC)Marketable Limit Orders prior to close NYSE 10 mins 2 mins
    NASDAQ 5 mins 10 mins
    AMEX 10 mins 10 mins
    1. Limit order – order will be executed at order price or better.
    2. All orders are only valid for one trading day. Orders not done will be cancelled at the end of each trading day.
    3. There is a mark-up (from last done) for all market order types to reduce the risk of overtrading from unfavourable price swings between order placement and execution.
    4. Should the due date coincide with Singapore public holiday/s – The due date will follow the traded market’s due date.

More information about Market, MOO & MOC order

Risk of Overtrading for Market, Market on Open and Market on Close orders:

Financial markets may fluctuate rapidly and susceptible to ‘gapping ’where there is a sudden shift in prices from one level to another. As Market, Market-On-Close and Market-On-Open orders are executed at the best price currently available in the market, there will always exist a risk of over-trading due to excessive price movements.

  1. What is GTD Order
    GTD orders will continue to be effective until the order is fully executed, cancelled or expired. For clients who may have a target price away from the current levels, GTD orders allow for orders to be entered at a bid (offer) well below (above) the current trading price of the counter without replacing the order daily.
  2. Eligible order types for GTD
    Only Regular Trading Hours (RTH) Limit and Stop-Limit (SLO) orders are eligible for GTD.
  3. Validity and expiry of GTD orders
    Only expiry dates of T+1 or more and up till 30 days from T can be selected. GTD orders will stay effective till a maximum of 30 days and will expire after the market closes on the expiry date selected. GTD orders with expiry dates that fall on a weekend/US holiday are invalid and will be rejected.
  4. Corporate action on GTD order
    • Forward/Reverse split and Stock Dividend:
      Any outstanding GTD orders will be withdrawn on the date of corporate action at 0815hrs (EST) with the exception of overnight GTD orders (orders submitted after the market closes i.e. 1615 EST on the day before the corporate action).
    • Cash Dividend:
      Buy limit and Sell stops/limit will be adjusted down by the value of the cash dividend on the ex-date.
  5. Withdrawal of in-queue GTD
    Please do note that GTD withdrawals for the US markets may be delayed until the counterparty’s system comes online to process the request at 810am EST.
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)
Order Type1 Limit Order, Stop Limit Order, Market OrderMarket on Open OrderMarket on Close Order
Minimum bid size2 Share price (USD) Minimum Bid Size (USD)
<1 0.0001
≥1 0.01


  1. Limit order – order will be executed at order price or better.
  2. Should the due date coincide with Singapore public holiday/s – The due date will follow the traded market’s due date.
Exchange fees:
Securities and Exchange Commission (SEC) Fee 0.00278% (sell trades effective trade date 20 May 2024)
Trading Activity Fee (TAF) Applicable only for sell trades at USD 0.000166 per share, subject to maximum of USD 8.30 (With effect from 2 January 2024).
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)
0.2% (Buy trades only, applicable for Spanish ADRs with market cap >= EUR 1 B)
American Depository Receipt (ADR) / Depository Receipt (DR) fee Varies for each counter

Note: All fees and charges are subject to Goods & Services Tax (GST). Fees & charges may be subject to changes without prior notice. Please click here for custodian charges.

Singapore Time 09:30pm – 04:00am (Daylight Saving Time)
10:30pm – 05:00am (Non-Daylight Saving Time)
US(Eastern) Time 09:30am – 04:00pm
Settlement Date1 T+1 market days
Settlement Currency USD or SGD
Order Amalgamation No
Contra Trading Yes
CPF settlement No

Note: For payment methods, click here.

  1. Should the due date coincide with Singapore public holiday/s – The due date will follow the traded market’s due date.


Month Day Date Holidays Settlement Trading Day
January Monday 1 January New Year’s Day No No
Monday 15 January Martin L. King Day No No
February Monday 19 February Presidents’ Day No No
March Friday 29 March Good Friday No No
May Monday 27 May Memorial Day No No
June Wednesday 19 June Juneteenthy No No
July Wednesday 3 July Indep. Day Early Close Yes Partial
Thursday 4 July Independence Day No No
September Monday 2 September Labor Day No No
October Monday 14 October Columbus Day No Full
November Monday 11 November Veterans’ Day No Full
Thursday 28 November Thanksgiving No No
Friday 29 November Day After Thanksgiving Yes Partial
December Tuesday 24 December Day Before Christmas Yes Partial
Wednesday 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

An ADR is a stock that trades in the United States but represents a specified number of shares in a foreign corporation. ADR agents (banks and investment banks) purchase stocks on foreign exchanges and then sell receipts for these shares on American exchanges. ADR agents charge these ADR fees to compensate for inventorying the foreign stocks and all other costs involving registration, compliance and recordkeeping services.

The ADR Fees will vary for each counter and you will be billed according to the shareholdings for each ADR shares.

No. US Citizens or US Residents are not allowed to trade in US Stocks through PSPL.

Can I continue to trade in US markets if I subsequently become a US Resident/US Citizen/US Taxpayer? 

No. Once you are a US Resident/US Citizen/US Taxpayer, you will not be able to trade in US Stocks through PSPL and you are required to notify PSPL should there be any change of your citizen/residency status.

A negotiable financial instrument issued by a bank to represent a foreign company’s publicly traded securities. The depositary receipt trades on a local stock exchange. Examples of DR include American Depository Receipt (ADR) that trades in the United States and Global Depository Receipt (GDR) that trades globally. DR agents (banks and investment banks) purchase stocks from the originating foreign exchanges and sell them on the domestic exchanges (e.g. American exchange). DR agents charge DR fees to compensate for inventorying the foreign stocks and all other costs involving registration, compliance and recordkeeping services

DR fees will vary for each counter and you will be billed according to the shareholdings for each DR shares.

Why is my limit or market orders not done when market opens at 9.30am (EST) and why is my executed price different from the opening price shown on POEMS?

All the orders received prior to market open will be routed and protected versus the stock’s primary listing exchange market opening print. Sometimes, there may be a delay in the opening for certain stocks in the primary exchange which will result in these counters not being able to open at 9.30am sharp.

However, you may still see transactions execute off the primary exchange before the official open, which by themselves are still required to be reported under SEC regulation. Any activity prior to the primary market open that is reported to the tape would be from alternative display facilities or dark pools.  The reason that these trades are still reported to the tape, even though the primary market is not opened, is because under SEC rules, every stock transaction must be reported to a consolidated data feed, whether it occurs on an exchange, like the Nasdaq or Intercontinental Exchange Inc’s (ICE.N) New York Stock Exchange (NYSE), or in a dark pool. Off-exchange trades are reported through Trade Reporting Facilities (TRFs) run by Nasdaq and NYSE in conjunction with FINRA.

Similarly, the high and low of the day for certain counters may be executed off the primary exchange and may not be taken as official primary executed prices

Please take note of following error messages

  1. Error Message “ Order Size Exceeds 30 Days Ave Daily Vol Check Order size for US trades exceeding the stock’s 30 days’ average daily volume will be rejected by the system.
    Trading Rule 614 requires that Limit orders at or below $5 per share would be permitted up to 10%, between $5 to $50 per share would be permitted up to 5% and with limits above $50 per share would only be permitted 3% marketability
    Orders exceeding these stipulated marketability will be rejected.

You may contact the night dealing team at 6531 1225 if you wish to sell your existing OTC shares that are currently held with us. Phillip Securities does not allow new purchases or transfer in of OTC shares. Broker assisted rates apply for OTC trading.

As electronic systems become increasingly prevalent, US stock exchanges and self regulatory organizations (SROs) are implementing policies that will address the problem of clearly erroneous trades – defined as trades resulting from a market participant placing a transaction or a series of transactions that adversely affect the market price of a security.

Please note that with effect from 2nd May 2011, our US counterparty will implement trading rules control check on all orders being routed to their order management system

The control rules will check order size relative to a percentage of the stock’s 30 days average daily volume (ADV) – Rule 612 – Check the price of the order relative to a percentage parameter against the National Best Bid/Best Offer (NBBO) quote during core trading session – Rule 614 Initiate a Reject outcome should the above rules be breached

Should your US orders submitted through our online systems fail to pass the new control rules check, the orders will be rejected automatically by the system and error messages will be updated in the order status as below:

  1. Rule 612 – Order Size Exceed 10% of 30 Days Avg Daily Vol Check
    Order size for US trades exceeding 10% of the stock’s 30 days average daily volume will be rejected by
    the system
  2. Rule 614 – Limit orders at or below $5 per share would be permitted up to 10%, between $5 to $50 per share would be permitted up to 5% and with limits above $50 per share would only be permitted 3% marketability
Click here for more information

You can access the following US Stock Indices on POEMS, kindly go to Stocks > LP1 > NYSE and select ‘Market Indices”.

  • Nasdaq Bank index
  • Nasdaq Biotechnology index
  • Nasdaq computer index
  • Nasdaq financial – 100 index
  • Nasdaq industrial index
  • Nasdaq insurance index
  • Nasdaq other financial index
  • Nasdaq telecommunication index
  • Nasdaq – 100 index
  • NYSE composite index
  • Wilshire 5000 equity index

Trading in US Markets via Phillip Securities is only available to non-US citizen / non-US resident.
You have to sign and mail-in the W-8Ben Form before trading in the US market.

When will W8-BEN form expire? 

W8-BEN form will remain in effect for a period of 3 years, starting on the date the form is signed and expiring on the last day of the 3rd succeeding calendar year. It is mandatory for you to renew this form before the last day of the 3rd succeeding calendar year in order to continue to trade in the US market. Failing which, Phillip Securities Pte Ltd “PSPL” will cease to provide custodian services to your US portfolio.

No. It does not matter where you live. To have access to real-time market data and quotes from NASDAQ, NYSE and NYSE-MKT, you must accept the appropriate Exchange Subscriber Agreement(s).

You are a PROFESSIONAL if you meet any one of the following criteria for the entire term of your subscription and you must sign further agreements as well as are subject to the appropriate additional Exchange fee structure:

  • You are subscribing on behalf of a firm, corporation, partnership, trust, or association.
  • You use the information in connection with any trade or business activities and not for personal investment.
  • You plan to furnish the information to any other person(s).
  • You are a securities broker-dealer, registered representative, investment advisor, investment banker, futures commission merchant, commodities introducing broker or commodity trading advisor, money manager, member of the Securities Exchange or Association or Futures Contract market, or any owner, partner, or associated person of the foregoing.
  • You are employed by a bank or an insurance company or an affiliate of either to perform functions related to securities or commodity futures investment or trading activity.

You are a NON-PROFESSIONAL investor if you do not meet any one of the criteria outlined above.

Please note that subscriber assumes all liability declaring status as a professional or non-professional and will be held accountable for all applicable penalties and/or the Exchange fees if declaration is incorrect. There shall be no refund of the unused portion should you wish to terminate the services prior to the expiry date.

Non-professional users

  • Enjoy free US Live price for Non-Professional User!
  • Login to POEMS
  • Select Reward > New Reward Subscriptions
  • Choose NYSE Live Price Subscription, NYSE-MKT Live Price Subscription or NASDAQ Live Price Subscription [Non- Professional Only]
  • Click “Submit” and input your POEMS password to proceed with the subscription.

For more information, visit

Step 1

Login to POEMS 2.0 and select Stocks > Reward > New Reward Subscriptions >

Step 2

Choose NYSE Live Price Subscription, NYSE-MKT Live Price Subscription or NASDAQ Live Price Subscription [Non-Professional Only]

Step 3

Tick the box beside the “0” points followed by “Submit New” and input your password for confirmation

Terms & Conditions:

1) The promotion is applicable to new and existing clients of Phillip Securities Pte Ltd (PSPL).

2) This promotion is open to individuals who qualify as non-professional as defined in the FAQ on this page.

3) Subscribers must subscribe and agree to the agreements set out in the subscription page to enjoy this promotion

4) A subscriber, who falsely declare to be Non-Professional but is a Professional, will be held accountable for all applicable penalties and/or Exchange fees

5) PSPL staff and agents, and PSPL cross-border clients are not eligible for this promotion

6) PSPL account application Terms & Conditions apply

7) The management reserves the right to make changes to the Terms and Conditions of this promotion without prior notice.

When will my US Live Prices activated?

Kindly take note that the subscription will be activated on the next calendar day after your subscription. You can login to Reward > Renew or Check Rewards Subscriptions to check activation date.

Can I cancel the subscription?

Redemption of Reward Points must be done though online redemption system on POEMS and once effected, is final. No cancellation or amendments will be entertained.

Professional User

What is the charge for real-time market data for Professional investors?

Professional investor package [1-months subscription fee] = S$200 (excl. GST). You may subscribe in 1, 3 or 6 months. Please note that subscriber assumes all liability declaring status as a professional or non-professional and will be held accountable for all applicable penalties and/or the Exchange fees if declaration is incorrect. There shall be no refund of the unused portion should you wish to terminate the services prior to the expiry date.

What is the application procedure for Professional user?

Professional users subscribing to the NASDAQ, NYSE-MKT and NYSE real-time market data need to submit the relevant exchange agreements to Phillip Securities (“PSPL”) to seek exchange approval before real-time market data can be granted to the Professional user. The agreement should be completed by person/s that are authorized (as per Board resolution) to execute contracts on behalf of the company and be completed using the full legal name of the entity.

For NYSE-MKT or NYSE real-time data, Professional user (the company) are required to submit attached Subscriber Agreement. Please be informed that NYSE will invoice the company directly for the subscription fees and charges. Should the Professional user wish to make payment to PSPL instead of NYSE, please submit the attached Third Party Addendum.

For NASDAQ real-time data, Professional user is required to submit attached NASDAQ Subscriber agreement.

Kindly fill up the NYSE/NYSE-MKT agreement form, NASDAQ agreement forms, Third Party Addendum form and mail to:

POEMS Marketing

251 North Bridge Road
#06-00 Raffles City Tower
Singapore 179101

Professional user only needs to submit the application once only.

When will my US Live Price subscription be activated?

Kindly take note that the subscription will not be activated immediately as we need the exchanges approval before activating the Live Prices.

Can I submit redemption using POEMS Reward program?

Yes, Professional user can redeem via POEMS Reward Program, however, kindly take note that the redemption status will be reflected as “Request-In-Progress”. Professional users will be required to make payment and submit the “Declaration Form” in order to activate the US Live Prices. Please note that this will be subjected to the exchange approval.

Without accepting these Agreements, you can continue to place orders via TRADE page. To view real-time prices, you have to accept the Agreements and subscribe the service accordingly.

To accept the agreement, please login to POEMS > Stocks > PRICE/ LP1/LP2 > auto message will be prompted. If you have already accepted the agreement before, you should not see this message again.



Help is available through each of the Exchanges:
NASDAQ (NASDAQ Stock Market) 1-301-978-5307 /
NYSE (New York Stock Exchange) 1-212-656-3000 /

For the purposes of the Exchange Subscriber Agreements, real-time market data means last sale information for securities listed on the respective Exchanges, including quotations, volumes, highs and lows, and all other information that is derived from the last sale information, during exchange market hours of operation.

Phillip Securities Pte Ltd and the Data Providers do not warrant or make any representations or claims concerning the validity, accuracy and timeliness or otherwise of the Information provided herein, nor shall Phillip Securities Pte Ltd or the Data Providers (NYSE, NYSE-MKT and NASDAQ) shall be liable or responsible for any claim or damage, direct or consequential, arising out of the use, interpretation or other implementation of said Information.

The various Exchanges have each developed an Exchange Subscriber Agreement to ensure that clients understand and agree to the terms of retrieval and use of real-time market data.

The following Exchanges require Exchange Subscriber Agreements:

  • NYSE MKT – The New York Stock Exchange
  • NASDAQ – The NASDAQ Stock Market
  • NYSE – The New York Stock Exchange

Contact us to Open an Account

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This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

Investments are subject to investment risks including the possible loss of the principal amount invested. The purchase of a unit in a fund is not the same as placing your money on deposit with a bank or deposit-taking company. There is no guarantee as to the amount of capital invested or return received. The value of the units and the income accruing to the units may fall or rise. Past performance is not necessarily indicative of the future or likely performance of the Products. There can be no assurance that investment objectives will be achieved.  

Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.  

The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <> for more information in relation to the dividend distributions.  

The information provided herein may be obtained or compiled from public and/or third party sources that PCM has no reason to believe are unreliable. Any opinion or view herein is an expression of belief of the individual author or the indicated source (as applicable) only. PCM makes no representation or warranty that such information is accurate, complete, verified or should be relied upon as such. The information does not constitute, and should not be used as a substitute for tax, legal or investment advice.  

The information herein are not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject PCM to any registration or licensing requirement in such jurisdiction or country. The Products is not offered to U.S. Persons. PhillipCapital Group of Companies, including PCM, their affiliates and/or their officers, directors and/or employees may own or have positions in the Products. Any member of the PhillipCapital Group of Companies may have acted upon or used the information, analyses and opinions herein before they have been published. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.  


Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
250 North Bridge Road #06-00, Raffles City Tower ,Singapore 179101 
Tel: (65) 6230 8133 Fax: (65) 65383066