Q1: How long does it take for me to get back my cash after redeeming my units in the fund under Tiger Vault?

A1: Redemption orders placed before 11:00am on the trading day will normally be credited on the same day at 6:00pm. The time required here is for reference only.

Q2: What currencies is Tiger Vault available in?

A2: Currently, Tiger Vault supports both USD and HKD money market funds.

Q3: What funds are available in Tiger Vault?

A3: You can check the latest fund list on Tiger Vault's main page.

Q4: Can I withdraw my cash if my Auto-Sweep is turned on?

A4: Yes, and if you perform any manual redemption of your Tiger Vault, Auto-sweep will be suspended for 3 business days to provide sufficient time for cash withdrawal.

Q5: Will I incur any margin interest when using Tiger Vault as buying power?

A5: No margin interest will be charged when using Tiger Vault positions as buying power to invest in stocks, funds or futures. However, when an exercise of a client's option occurs, if the amount of available cash funds in the client's Tiger account is insufficient, the operation of exercising the option through financing may trigger a margin interest charge.

Risk warning: When you use Auto-sweep to trade other investment products resulting in the MMF redemption amount greater than the MMF redemption gate, it may cause your MMF redemption to take longer to arrive and incur some financial interest.

Q6:Are there positions in Tiger Vault that can be used for systematically forced liquidation?

A6:Yes. When the insufficient margin in your securities account triggers system leveling, if you have enabled Auto-Sweep, your Tiger Vault positions will be recorded as cash assets to be leveled first;

the system will automatically close the positions in your securities account to increase the account margin first, and if the margin is still insufficient, it will close your Tiger Vault positions. To avoid this, please be careful to maintain a sufficient margin in your account.

Q7: Can I withdraw cash from my account if all my cash is in Tiger Vault?

A7: You will need to first redeem your holdings under Tiger Vault in your portfolio. Once the order is settled and cash is returned to your account, you can then withdraw the cash from your account as per usual.

Q8: How about futures?

A8: Tiger Vault's position as buying power does not support investing in futures for now.

Q9: Can the funds in Tiger Vault be withdrawn?

A9: You will have to manually redeem your holdings in Tiger Vault, then withdraw the funds from your Tiger Brokers Account. Kindly note that holdings have to be settled in order to be redeemed or withdrawn. The system will then suspend the automatic subscription of Tiger Vault for 3 trading days so that you can withdraw funds from your account during this period.

Q10: In what situation will automatic redemption be initiated?

A10: The automatic redemption can be triggered when the following requirement(s) have not been satisfied.

  • Available cash requirement: if the available cash of current currency is negative, the automatic redemption will be triggered.

  • Settlement requirement of the other products: if the settled cash of current currency is negative, the automatic redemption will be triggered.

  • Margin requirement: if the excess liquidity excluding the market value of tiger vault is negative, the automatic redemption will be triggered.

When the current asset cannot meet above the requirement(s), automatic redemption will be initiated to redeem partial, or all of Tiger Vault.

Q11: After the Auto-Sweep of the Tiger Vault USD MMF is activated, will the Auto-redeem of the Tiger Vault USD MMF be triggered when only Hong Kong dollars generate liabilities?

A11: No, if there are HKD arrears, the system will only Auto-redeem the HKD MMF in Tiger Vault to repay the HKD arrears. If there is no HKD MMF position in the account, the Auto-redeem will not be triggered, nor will the Auto-redeem of USD MMF position be triggered.

Was this helpful?