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Explanation of the Rich Book Margin Account
1. Financing ratio
Financing ratio=Debt/Mortgage value * 100% (for reference only). Users can check the current financing ratio of their account on the APP, as shown in the figure:
The financing ratio is used to measure the customer's liquidation risk level. In the case of using financing, the following situations can lead to an increase in this ratio: a decrease in stock price, an increase in the use of financing limit, stock suspension, and a decrease in stock collateral ratio.
Please keep an eye on the financing status of your account at all times.
(1) When your financing ratio exceeds 110%, the account status will change to "warning". Please deposit funds in a timely manner or actively close out some stocks.
(2) When your financing ratio exceeds 120%, Fuchen will have the right to close the position. In the event of a rapid increase in financing ratio due to conditions outside the market, Fuche will immediately force liquidation.
Please keep an eye on the financing status of your account at all times.
(1) When your financing ratio exceeds 110%, the account status will change to "warning". Please deposit funds in a timely manner or actively close out some stocks.
(2) When your financing ratio exceeds 120%, Fuchen will have the right to close the position. In the event of a rapid increase in financing ratio due to conditions outside the market, Fuche will immediately force liquidation.
2. Market value of securities
The total market value of your account holdings.
3. Available funds
The purchasing power of an account can be used to purchase securities.
4. Freeze funds
Pending orders will freeze the corresponding funds, which can be released after the order is cancelled.
4.1 Freeze Funds on Pending Orders: Funds frozen on pending purchase orders.
4.2 Expense Withholding: Withholding of unsettled transaction fees, margin trading and securities lending interest, etc.
4.3 Frozen amount for new stock subscription: The funds frozen for new stock subscription before the subscription deduction.
Please note that frozen funds will occupy a portion of the account's purchasing power.
4.1 Freeze Funds on Pending Orders: Funds frozen on pending purchase orders.
4.2 Expense Withholding: Withholding of unsettled transaction fees, margin trading and securities lending interest, etc.
4.3 Frozen amount for new stock subscription: The funds frozen for new stock subscription before the subscription deduction.
Please note that frozen funds will occupy a portion of the account's purchasing power.
5. Withdrawal of funds
You can withdraw cash on T day.
The amount of cash that can be withdrawn from a securities account and the amount to be settled in the account will affect the calculation of this value.
For example:
Due to the T+2 settlement system implemented in Hong Kong stocks, settlement and delivery can only be completed on the second working day after the transaction occurs.
Assuming that the settlement has been completed on T day (today), your account amount is 50000.
Assuming you buy 20000 shares on T-1 and 10000 shares on T, your outstanding settlement amount on T+1 is -20000, and on T+2 is -10000;
To avoid settlement defaults in the next two trading days, the maximum amount you can withdraw today is 50000 to 20000 yuan.
The amount of cash that can be withdrawn from a securities account and the amount to be settled in the account will affect the calculation of this value.
For example:
Due to the T+2 settlement system implemented in Hong Kong stocks, settlement and delivery can only be completed on the second working day after the transaction occurs.
Assuming that the settlement has been completed on T day (today), your account amount is 50000.
Assuming you buy 20000 shares on T-1 and 10000 shares on T, your outstanding settlement amount on T+1 is -20000, and on T+2 is -10000;
To avoid settlement defaults in the next two trading days, the maximum amount you can withdraw today is 50000 to 20000 yuan.
6. Stock collateral amount
The total amount of collateral calculated based on the collateral ratio of each stock you hold is used to calculate the financing ratio of your account (financing ratio=used limit/stock collateral amount).
7. Borrowing limit
The maximum borrowing limit is equal to 1 mortgaged stock held * 1 stock collateral ratio+2 mortgaged stocks held * 2 stocks collateral ratio ..
The maximum amount of financing you can obtain is determined by the credit evaluation and stock collateral amount provided by Fuche. Please refer to the personal account details in the APP for details, as shown in the figure:
The maximum amount of financing you can obtain is determined by the credit evaluation and stock collateral amount provided by Fuche. Please refer to the personal account details in the APP for details, as shown in the figure:
8. Used credit limit
The financing limit you have currently used generally cannot exceed the available borrowing limit.
9. Debt amount
Your outstanding amount includes the used credit limit and penalty interest generated from financing.
The amount used to calculate the daily financing debt interest on your account, which is the debt after daily settlement. Any changes in debt caused by your deposit or stock position adjustments will be updated after settlement. Please refer to the statement for actual outstanding debts.
For example, if you raise 2000 yuan to buy stocks on T day, then:
After settlement on T day, the interest amount is 0.
2. After settlement on T+1 day, the interest amount is 0.
After settlement on T+2 days, the interest amount is 2000.
After you use the financing, no interest will be generated on T day and T+1 day, and interest will start to be generated from the settlement on T+2 day.
Continuing from the previous example, if you close out the stocks purchased through financing on T+2 days, then:
After settlement on T+2 days, the interest amount is 2000.
After settlement on T+3 days, the interest amount is 2000.
3. After settlement on T+4 days, the interest amount is 0.
Interest will still be calculated on the stocks you purchased through financing after closing the position, until the settlement is completed. If you repay the financing through deposit on the same day, there will be no interest on that day.
The amount used to calculate the daily financing debt interest on your account, which is the debt after daily settlement. Any changes in debt caused by your deposit or stock position adjustments will be updated after settlement. Please refer to the statement for actual outstanding debts.
For example, if you raise 2000 yuan to buy stocks on T day, then:
After settlement on T day, the interest amount is 0.
2. After settlement on T+1 day, the interest amount is 0.
After settlement on T+2 days, the interest amount is 2000.
After you use the financing, no interest will be generated on T day and T+1 day, and interest will start to be generated from the settlement on T+2 day.
Continuing from the previous example, if you close out the stocks purchased through financing on T+2 days, then:
After settlement on T+2 days, the interest amount is 2000.
After settlement on T+3 days, the interest amount is 2000.
3. After settlement on T+4 days, the interest amount is 0.
Interest will still be calculated on the stocks you purchased through financing after closing the position, until the settlement is completed. If you repay the financing through deposit on the same day, there will be no interest on that day.
10. Recovery of Deposit
After triggering the closing line (financing ratio higher than 120.00%), you need to recover the amount deposited into your account. If you do not deposit in a timely manner, you may face the risk of being forced to close your position at any time. You can also close your position on your own after reaching the closing line.
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