US Asian Hours

What is "US Asian Hours"?

Singapore's first trading platform launched by Phillip Securities to provide trading of specific US equities during Asian market opening hours.

Currently, our US Pre-Market hours offer trading from 4pm – 9.30pm SGT (5pm – 10.30pm non-DST). With the launch of “US Asian Hours”, investors can trade even earlier from 9am – 5pm SGT.

This will give investors greater flexibility and convenience when trading in the US equities. They will have access to an extra 7 hours of US trading, which is not offered by any other broker! Investors can leverage this capability and take action on any market moving events that are outside of the extended hours and realise the first mover advantage that is exclusive only to POEMS clients. Furthermore, it allows for more trading opportunities via POEMS from the start of US Asian hours (9am SGT) till the end of Regular Trading Hours (4am SGT).

To facilitate this, clients will be transacting with Phillip Securities as the principal and the US Asian Hours will quote bid-offers via the POEMS trading platform, so that clients can make transactions with confidence in price security.

Promotional rate is applicable to all account types including CashPlus.

CashPlus rates are not applicable for US Asian Hours

T&Cs Apply

Tutorial video on how to trade USAH on POEMS Mobile 3:

Introduction of USAH by Lee Yong Heng from Phillip Global Markets Desk:

Alternatively, you can learn more about US Asian Hours from our Market Journal here!

Singapore Time (SGT) 09:00am – 05:00pm (US DST and Non-DST)
Order Placement Via

1) POEMS 2.0 Web

2) POEMS Mobile 3

Lot Size 1 Share
Minimum Order Size USD 10
Order Type1 Limit Order, Market Order

1For US Asian Hours trading, only 1 order (either Limit or Market order) can be placed at any one time for each counter.

Trading on POEMS Mobile 3:

You can download the POEMS Mobile 3 App for iOS and Android here.

Promotional rate is applicable to all account types. CashPlus rates are not applicable for US Asian Hours.

T&Cs Apply

Securities and Exchange Commission (SEC) Fee 0.0008%^(sell trades)
Trading Activity Fee (TAF) Applicable only for sell trades at USD 0.000166 per share, subject to maximum of USD 8.30
American Depository Receipt (ADR) / Depository Receipt (DR) fee Varies for each counter

Custody Fees

Cash Plus Account

Starter Premier Privilege
Foreign Share Custody Charges Waived1 Waived1 Waived

1Waived for US and HK Foreign Custody fee until 31 December 2023. Please refer to Cash Plus Account Infosheet for the relevant applicable charges thereafter.

Cash Management Account

Foreign Share Custody Charges S$2 per counter per month (subject to max S$150 per quarter)
Waiver Condition:
  1. 2 Trades per month OR
  2. 6 Trades per quarter OR
  3. Minimum S$132 brokerage fee per quarter

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.

Settlement Date T+2 market days
Settlement Currency USD or SGD

Phillip Securities Pte Ltd is acting as the principal for all US Asian Hours trades and endeavours to provide liquidity on a best-effort basis.

Our unique set of capabilities in liquidity management is designed to offer our US Asian Hours investors more trading opportunities.

While we strive to provide prices that are transparent for investors' efficient execution, do note there are times where/when Phillip Securities may not be quoting prices due to market conditions and risk parameters.

Bid/Ask values quoted are based on the principal's discretion with reference to the previous day's closing price.

  1. W8Ben – US tax declaration form
  2. Risk Warning Statement (RWS) – Acknowledgement of trading in foreign listed shares
  3. Customer Account Review (CAR)* – To qualify for transacting in listed Specified Investment Products (SIPs)
    *Required for trading in ETFs
  4. Risk Disclosure Statement – Acknowledgement of risks trading in US (Asian Hours)

The order is less than USD 10

Minimum order size (where order size = Quantity x Bid or Ask price) must be above the gross value of USD 10. The order will be rejected if order size is below the threshold.

Insufficient liquidity for this counter

Price and volume may vary at any point in time during the market making process, leading to instantaneous liquidity fluctuations during US Asian Trading Hours (9am-5pm). Hence, market orders may get rejected due to insufficient liquidity at time of order placement.

Lower liquidity

There might potentially be less trading volume, resulting in more difficulty when executing some trades.

Higher Volatility

Prices can be more volatile than usual in US Asian Hours. Limited volume can make prices rise and fall more rapidly and steeply than usual. For stocks with limited trading activity, price fluctuations may be greater than during regular trading hours (RTH).

Wider Spreads

Lower liquidity and higher volatility in US Asian Hours may result in wider than normal spreads.

Not reflective of RTH (Regular Trading Hours) activities

US Asian hours may not be reflective of the actual trading trends/momentum of RTH trading activities due to the limited liquidity and greater volatility. There is a chance that the market may go the opposite direction when it opens.

Risk of Overtrading

Bid/Ask quotes shown on US Asian Hours are dynamic, there may be a risk of overtrading.
Indicative gross value shown on order confirmation page may be larger/smaller than the actual gross value done due to deviation from quoted Bid/Ask while order is placed.

You can read more on the risk here Risk Disclosure Statement

Buying/Selling between US Asian hours and Premarket/Regular trading hours (RTH) is seamless. You may buy (sell) in US Asian hours and sell (buy) in Premarket trading or during RTH.

Forced selling/margin calls will apply to orders done in “US Asian Hours” as well. Orders to fulfil forced selling and margin calls will be done during Regular Trading Hours (RTH).

Split (Forward/Reverse)

Counters with a split (Forward/Reverse) will have the Price and Quantity held adjusted on ex-date prior to the opening of US Asian Hours.
Counter XYZ

Ex Date Split Ratio Closing Price on 01/06 Opening Price on 02/06 on US Asian Hours Closing quantity held on 01/06 Opening quantity held on 02/06 during US Asian Hours
02/0610:11000100220

Dividends

Counters that go ex-dividend will not have the closing price adjusted downwards by the full amount of the dividend on ex-date.

You can only trade in the 55 stocks and 4 ETFs listed above during US Asian Hours.

The benefits of trading in the US Asian hours is to leverage on unexpected news released during Asian hours (e.g. People’s Bank of China policy rate decision). This allows you to have the first mover advantage of which the event may potentially move the market.

The extended hours offered by US Asian hours allows for more price discovery and potentially allows buy low (sell high) during US Asian hours and sell high (buy low) during Pre-market/RTH.

Do note that there is a one hour overlap in trading period between 4pm-5pm SGT between US Asian hours and US Pre-market trading which may potentially offer arbitrage opportunities.

Terms and Conditions for “US Asian Hours 0.08% with No Minimum Commission” Promotion:

  1. US Asian Hours 0.08% with No Minimum Commission promotion is applicable for all POEMS account types including CashPlus account.
  2. The duration of the promotion will be from 19 July 2022 to 29 March 2024.
  3. This promotion is only applicable for ONLINE trades traded through POEMS suite of platforms.
  4. Notwithstanding anything herein contained, PSPL reserves the right at any time in its absolute discretion to (i) amend, add and / or delete any time of these Terms & Conditions without prior notification (including eligibility and qualifying terms and criteria), and all participants shall be bound by such amendments, additions and / or deletions when effected, or (ii) vary, withdraw, or cancel any items or the promotion without having to disclose a reason thereof and without any compensation or payment whatsoever. PSPL’s decision on all matters relating to the promotion shall be final and binding on all participants.
  5. In the event of a dispute over the client’s eligibility to participate in this Promotion, PSPL’s decision will be final. PSPL shall not be obliged to give any reason on any matter concerning the Promotion and no correspondence or claims will be entertained.
  6. By taking part in this promotion, Customer acknowledges that he/she has read and consented to these Terms & Conditions.

Disclaimer

Investment product information in this website is provided to you for general information only and does not constitute a recommendation, an offer or solicitation to buy or sell the investment product mentioned. It does not have any regard to your specific investment objectives, financial situation or any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of your acting based on this information. You should seek advice from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs, before making a commitment to invest in such products. Investments are subject to investment risks including the possible loss of all or part of the principal amount invested. The value of investments denominated in foreign currencies may diminish or increase due to changes in the rates of exchange. Past performance figures as well as any projection or forecast mentioned in this website, are not necessarily indicative of future or likely performance of any investment products. You are advised to read the trading account terms and conditions, relevant product information sheet(s) and risk disclosure statements before investing in any investment product.

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

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IMPORTANT INFORMATION

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 <www.phillipfunds.com> 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 www.phillipfunds.com