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When SmartSave-Redeem is enabled, your money market fund (MMF) assets are included in your buying power and can be used directly for stock trading. If your account has a negative balance, your MMF holdings in the same currency will be automatically redeemed to cover the shortfall.
A margin investment account is required to enable SmartSave-Redeem.
Once enabled, your Cash Plus (MMF) holdings are included in your buying power and can be used directly for stock trading. No manual redemption is required.
Redemption amount: An amount equivalent to your account deficit will be automatically redeemed from your MMF holdings. Only funds in the relevant currency will be redeemed to cover the deficit.
Redemption schedule: For all clients who have enabled auto-redemption, three automatic redemptions are processed daily: from 6:00 AM to 6:40 AM, from 8:00 AM to 8:30 AM and from 17:00 PM (Hong Kong Time).
Redemption sequence: If you hold multiple money market funds, the fund with the lowest current 7-day annualized return will be redeemed first. For example, if you have both Fund A and Fund B, and Fund B has a lower 7-day return, Fund B will be redeemed first. If Fund B's balance is insufficient, Fund A will be redeemed next.
There are no fees for auto redemption of your Cash Plus (MMF) holdings. However, when using auto redemption, the redeemed fund value may not always fully cover your deficit. In rare cases, this may result in interest charges to your account. Please pay attention to your outstanding deficit and the actual amount received from redemption.
Currently, Cash Plus (MMF) assets are counted toward total buying power at a ratio of 1:0.95.
For example, if you can purchase 2 shares of Tencent using cash, you would be able to purchase 1.90 shares with the same value held in money market fund assets.
