With odd-lot intraday trading scheduled to start on Monday next week, the Taiwan Stock Exchange (TWSE) urged investors to be cautious and not to confuse it with regular trading.
Odd-lot trading means that investors can purchase any number of shares between 1 and 999, lower than the standard unit of trading, or 1,000 shares, thus lowering the threshold at which investors can buy high-priced stocks.
The TWSE has asked securities brokerages to provide new online trading platforms that are exclusively for odd-lot intraday trading to differentiate it from current platforms for regular stock trading, TWSE trading division director Ben Chen (陳正斌) told the Taipei Times by telephone.
“Investors need to be careful about which platform they are using when placing orders,” Chen said.
“If you plan to purchase two shares of Largan Precision Co (大立光), that would cost you NT$6,170 [US$213] based on the stock’s closing price of NT$3,085 today,” Chen said. “However, if you mistakenly placed the order through the platform for regular trading and end up buying two units, you would have to pay NT$6.17 million if the order is matched.”
As most brokerages allow investors to buy stocks on margin, they usually set limits on how much money investors could borrow, and if an investor’s credit limit is lower than the amount of an accidental buy order, the order would be canceled automatically, Chen said.
“That would be the lucky case. If your credit limit is higher than the amount of your misplaced order, the order would take effect and be matched. You might suffer huge losses if the stock goes down,” Chen said.
The exchange has asked securities companies to show the total amount of order twice at their trading platforms for investors to double check, but investors still need to be cautious, he said.
Individual odd-lot traders will have to place their orders on online platforms themselves, and not by asking a broker to fill their orders over the telephone, as brokerages are also worried about employees making a mistake when filling orders, Chen said.
While the TWSE has adopted a continuous trading mechanism for its regular stock trading, it would adopt a call auction mechanism for the odd-lot intraday trading, in a bid to help investors differentiate the two platforms, it said.
Orders can be placed from 9am to 1:30pm, with the first match starting at 9:10am, after which orders would be matched every three minutes by call auction, with trades being executed according to the principles of price and time priority, it said.
Unexecuted orders will not be carried forward to after-hours trading.
The existing after-hours odd-lot trading will remain unchanged, with trading from 1:40pm to 2:30pm and matching orders taking place only once at 2:30pm, it said.
TECH BOOST: New TSMC wafer fabs in Arizona are to dramatically improve US advanced chip production, a report by market research firm TrendForce said With Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) pouring large funds into Arizona, the US is expected to see an improvement in its status to become the second-largest maker of advanced semiconductors in 2027, Taipei-based market researcher TrendForce Corp (集邦科技) said in a report last week. TrendForce estimates the US would account for a 21 percent share in the global advanced integrated circuit (IC) production market by 2027, sharply up from the current 9 percent, as TSMC is investing US$65 billion to build three wafer fabs in Arizona, the report said. TrendForce defined the advanced chipmaking processes as the 7-nanometer process or more
China’s Huawei Technologies Co (華為) plans to start mass-producing its most advanced artificial intelligence (AI) chip in the first quarter of next year, even as it struggles to make enough chips due to US restrictions, two people familiar with the matter said. The telecoms conglomerate has sent samples of the Ascend 910C — its newest chip, meant to rival those made by US chipmaker Nvidia Corp — to some technology firms and started taking orders, the sources told Reuters. The 910C is being made by top Chinese contract chipmaker Semiconductor Manufacturing International Corp (SMIC, 中芯) on its N+2 process, but a lack
Who would not want a social media audience that grows without new content? During the three years she paused production of her short do-it-yourself (DIY) farmer’s lifestyle videos, Chinese vlogger Li Ziqi (李子柒), 34, has seen her YouTube subscribers increase to 20.2 million from about 14 million. While YouTube is banned in China, her fan base there — although not the size of YouTube’s MrBeast, who has 330 million subscribers — is close to 100 million across the country’s social media platforms Douyin (抖音), Sina Weibo (新浪微博) and Xiaohongshu (小紅書). When Li finally released new videos last week — ending what has
NVIDIA PLATFORM: Hon Hai’s Mexican facility is to begin production early next year and a Taiwan site is to enter production next month, Nvidia wrote on its blog Hon Hai Precision Industry Co (鴻海精密), the world’s biggest electronics manufacturer, yesterday said it is expanding production capacity of artificial intelligence (AI) servers based on Nvidia Corp’s Blackwell chips in Taiwan, the US and Mexico to cope with rising demand. Hon Hai’s new AI-enabled factories are to use Nvidia’s Omnivores platform to create 3D digital twins to plan and simulate automated production lines at a factory in Hsinchu, the company said in a statement. Nvidia’s Omnivores platform is for developing industrial AI simulation applications and helps bring facilities online faster. Hon Hai’s Mexican facility is to begin production early next year and the
RSS