If you’re working overseas or having a regular job in the Philippines working from 9a to 5p, chances are you won’t be able to participate in the market during trading hours.
PSE Trading Hours
PSE Trading hours are from 9:30a to 3:30p, Monday to Friday.
So, what do you do?
Instead of using the regular “Enter Order,” simply place a market order using the “OH or ATO Order” function.
OH or ATO Order
Off-Hours (OH) or After Trade Hours (ATO) Order is where you can place a buy or sell order after market hours. It can only be accepted from 6:00p to 8:55a of the next trading day on weekdays and anytime on weekends.
Take note, this is processed on a first-come, first-serve basis and sent to the exchange for posting on a first-in, first-out during pre-open session. And after 9:15a on trading days, it can no longer be cancelled or modified until after trading starts.
Placing an Off-Hours Buy Order
For this tutorial, we’re going to place an off-hours buy order for Ayala Land, Inc. (ALI).
Step 1 – Enter OH Order
Under Trade > OH Order, enter your order details.
Make sure the following are set correctly…
- Transaction – BUY
- Term – ATO
For the stock code, type in the stock code “ALI” or click “Stock List” to choose from the pop-up list.
For the number of shares, refer to the board lot. Make sure you a enter a number in multiples of 100 as indicated to be accepted. Let’s buy 200 shares.
For the price, refer to the “Ask” table. Enter the lowest price from the sellers or choose the second one which is 44.65 per share to get a higher chance of the order being executed.
When you’re done, click “Preview Order.”
Step 2 – Preview OH Order
Review your order carefully. Make sure you have enough funds to cover the transaction.
When you’re done, enter your password and click “Place Buy Order.”
Step 3 – Confirm OH Order
After placing the order, you should receive confirmation details.
To verify if your order has been accepted, see the “OH View/Cancel” tab the next trading day. You can also check under the “Trading History” tab to confirm the trade.
If you need to make some changes, just go to the “OH View/Cancel” tab and click “Cancel.”
In this article, you’ve learned how to place a market order after trading hours by using the Off-Hours (OH) or After Trade Hours (ATO) Order function.
If you have some questions, feel free to drop me a comment below.
Thanks for reading!