- Account opening procedure
- Choose a securities firm of your choice
- You could reach any of the 10 securities firms who are members of the CSX, and they will assist you in account opening.
- Open a trading account at a chosen securities firm
- Requirement:
- 1. Citizen ID card/passport for foreigner and a photo size 4x6
- 2. An investor ID (securities firm can help file the request to SECC)
- When to start trading?
- At least one day after the account opening, investor can have orders placed to the CSX.
- The investors can make orders only if they have at least 100% of the amount of cash (for bid order) including the brokerage fee or 100% of the quantity of securities (for ask order). These cash and securities will be frozen by the member, once the orders are submitted by the latter, for the settlement purpose or until the orders become invalid.
- Summary of Order Placement and Trading Procedure in CSX
(1) Investors open a trading account (a securities account and a cash account) at a Securities Firm (T-1). The Securities Firm (SF) may process for its customers the request for an Investor ID from the SECC.
(2) Investors make bid/ask order instructions (T+0) via Mobile Trading System (MTS) or their brokers in the form of writing, voice (recorded by a market representative) or electronic means.
(3) After bid/ask order being successfully placed into the CSX’s trading system (T+0) with the availability of cash or securities in the investor’s trading account (100% of the relevant amount of cash and securities required), the cash/securities are locked for settlement at T+2.
(4) The orders are matched in the CSX’s trading system according to the predetermined auction principles (T+0).
(5) The CSX notifies the trading results (T+0).
(6) The SFs confirm the relevant trading results with their respective customers (T+0).
(7) In case there are transaction errors made by a SF, the SF has to submit an application to the CSX for correction by noon on T+1. After errors corrected, the process (5) & (6) applies again.
(8) Investors pay cash or deliver securities through SF (T+2).
(9) SFs settle the trade on behalf of the investors at the CSX.