Dear InnnovestX Online Client,
RE: Inappropriate Buy/Sell Orders for Equities
InnnovestX Securities Company Limited ("INVX") would like to ask for cooperation from all INVX Online clients to avoid placing buy/sell orders for equities in ways that may be deemed inappropriate and affect the overall stock market by Stock Exchange of Thailand 's rules which contain the following details:
1. Placing a buy/sell order for an equity at a price that is too high/low than it should be during the Pre-Open/Pre-Close market to jump the queue or to block others' orders.
2. Placing a buy/sell order for an equity and canceling the order when it is about to match and repeating this action many times without a truthful intention to actually buy/sell the equity to give others a false impression that there is a high demand (buy orders), or lack thereof (sell orders), for the equity.
3. Placing a buy/sell order for an equity at a price and volume that may match an opposite order placed earlier by the same client, or the same group of clients, to give others a false impression in the buying/selling price and volume of the equity.
4. Placing a buy/sell order for an equity at a price that is too high/low than it should be during the Pre-Open, or the Pre-Close, market until it affects the overall buy/sell condition and/or the SET index in order to control the equity price.
5. Placing multiple buy/sell orders for an equity in ways that will push the price higher/lower to give others a false impression that there are significant changes in the equity price.
6. Buying an equity at the offer or selling it at the bid in multiple orders of 100-1,000 shares until there are changes in the equity price to control the price of the equity, when in fact the multiple buy/sell orders can be done in just one transaction.
INVX sincerely hopes that you will cooperate with us. However, in case you are found to have placed inappropriate buy/sell orders for equities, INVX reserves the right to withhold our service to you in placing buy/sell orders via the Internet or the company's computer system.
Additionally, investors should be careful when placing buy/sell orders for equities in the following ways:
1. Placing a buy/sell order At-the-Open (ATO) and At-the-Close (ATC), which queues ahead of and has the right to match before orders that have a set price. ATO and ATC orders may match prices that are higher or lower than the last execution price. Hence, investors should be aware of the risks that can occur to the price they are buying/selling and should closely monitor the projected open/close price during the Pre-Open/Pre-Close market.
2. Placing a buy/sell order at MP (Market Price) may lead to an inappropriate order when it matches an opposite order placed earlier by the same investor. Therefore, investors should review their buy/sell orders that are still waiting in the queue and ensure that they have been matched before making reverse (or opposite) orders.
Yours Sincerely,
InnnovestX Securities Co.,Ltd.
