After the adjustment of US stocks settlement period (from T+2 to T+1), we also adjust the currency conversion settlement period in your security account in order to guarantee your trading efficiency. Adjustment for currency conversion is as follows:
Conversion for | Before | After |
|---|---|---|
Securities trading | T+2 | T+1 (Same as US stocks) |
Withdraw/Transfer/Other tradings | T+0 (No change) | |
Detailed FAQs as follows:
What is T+1 settle?
Take the US stocks as an example: your order filled day is trading day (T day）, and the day which finished settlement is settle day. Your orders will be settled a trading day after T day if it is T+1 settled. For example, if you close your US stock position this Wednesday, you could withdraw your fund in Thursday after the fund settled (if Thursday is also a trading day).
You could switch the settlement period in Tiger Trade, if you plan to trade US stocks, it is better to choose T+1 settle.
How does T+1 settle affect my trading?
If your account is margin account, there is no effect, you could enjoy the consolidated buying power for multiple currency as before.
If your account is cash account, there is some effect in only one case: if you close T+2 trading like HK stocks, the fund cannot convert settled directly but to wait for the next trading day to make T+1 settled conversion. After the conversion is filled, you could directly open US stocks as before.
How does T+1 settle affect my financing interest?
Financing interest related to US stocks will be calculated from T+1.
Is there any change for currency conversion fees?
No change, the conversion price for T+1 is same as price for T+0.
Is these adjustments related to future?
There is no adjustment for future and currency conversion in future account, they are still T+0 settled.