General
Q1.
How do I find out what are the margin requirements for the contracts I wish to trade?
Q2. How do I find out what is the First Notice and Last Trading Day for a particular contract?
Q3. What are the operating hours of Phillip ?
Account
Q1.
How long does it take to open a Offshore Derivatives trading account?
Q2. Do I get credit interest for excess funds in my Offshore Derivative account?
Q3. Is there a trading limit?
Q4. I am a US citizen/Green Card Holder; can I open a Offshore Derivatives account?
Q5. How do I view my trading statement?
Q6. Why am I charged interest on margin deficits?
Q7. Will there be an auto conversion by Offshore Derivatives to cover the deficit?
Q8. How do I top-up my Offshore Derivative account?
Q9. Can I top-up my account with other currencies?
Q10. How do I withdraw money from my Offshore Derivatives account?
Q11. Upon submitting the withdrawal request, how long does Phillip need to process it?
Products FAQs
Q1. How do I find out about the trading hours of a particular contract?
Q2. How do I place my orders or trade?
Q3. What are the commodity products offered by Phillip Offshore Derivatives?
Trading
Q1.
What is the procedure to call-in and place trade?
Q2. How do I get confirmation if I place an order with the Dealer and it’s done?
Q3. Can I call-up the dealer to check on my Net Position?
Q4. What should I do if I have a margin call?
Q5. How much time do I have to top-up for my margin call?
Q6. What will happen if I do nothing to my margin call on T+1?
Q7. What does ‘First Notice Day (FND) refer to?
Q8. Why must I liquidate/rollover my position towards the First Notice Day?
Q9. How will I know whether my futures contract is approaching First Notice Day?
Q10. What will happen if I do not liquidate my open positions two business days before FND/LTD?
General
Q1. How do I find out what are the margin requirements for the contracts I wish to trade?
Please approach our marketing officer or Offshore Desk at the Head Office or our branches during operating hours for a detailed margin list of the contracts. You may also contact the your dealer or Offshore officer at 02 635 1717 or email offshore@phillip.co.th for the margin requirements.
Q2. How do I find out what is the First Notice and Last Trading Day for a particular contract?
Please visit our FND / LTD webpage for more information or approach our Offshore Desk at the Head Office during operating hours for information related to First Notice and Last Trading Day.
Q3. What are the operating hours of Phillip ?
Phillip Securities (Thailand) operates from Monday to Friday, 8.30 am to 5.30 pm.
Account
Q1. How long does it take to open a Offshore Derivatives trading account?
For existing Offshore account, usually we need 2-3 business days to process a new Offshore Derivatives account upon the receipt of client’s funds and all necessary documents. However, under some circumstances, it may take slightly longer. We greatly appreciate your understanding in the event of any delay.
For new client, your Offshore account must be approved by BOT. The approval process will take approximately 2 weeks.
Q2. Do I get credit interest for excess funds in my Offshore Derivative account?
No.
Q3. Is there a trading limit?
Once the account is approved with the financial supports, each customer will be approved with the numbers of contracts of not more than 20 lots for general contracts and up to 40 lots for mini-contracts.
Q4. I am a US citizen/Green Card Holder; can I open a Offshore Derivatives account?
Yes you can open a Offshore Derivatives account but the account will be restricted to the following:
- Account Balance to be kept in Non USD currencies
- Trading on Non USD related products only (i.e. Profit & Loss, Required Margin and Commission that does not involve USD)
Q5. How do I view my trading statement?
A Trading statement will be sent to you through email on T+1.
Q6. Why am I charged interest on margin deficits?
If you do not have a particular currency in your account and you are trading a contract that requires that particular currency (as margin or unreleased losses), you will be charged interest for having a deficit in that currency. Interest rates charged for respective currencies will change from time to time and are made available at www.poems.in.th.
Currency |
Interest Rate ( %) |
|---|---|
AUD |
9.5 |
CAN |
6 |
CHF |
8.5 |
EUR |
6 |
GBP |
5.5 |
HKD |
5.5 |
JPY |
5 |
MYR |
7.5 |
NZD |
7.5 |
RUP |
1 |
SGD |
5.5 |
THB |
6.45 |
TRY |
8.5 |
TWD |
5.5 |
USD |
5.5 |
You can also contact our Offshore Desk at 02 635 3055 or e-mail : offshore@phillip.co.th to request such details.
Q7. Will there be an auto conversion by Offshore Derivatives to cover the deficit?
Phillip will not do any currency conversion to cover the deficit without the customer’s consent or instructions. An exception is made when customer’s accounts are in danger of going into over loss due to exchange rate fluctuations. Phillip reserves the right to do an auto-conversion of the deficit amount to maintain a positive account balance. Clients must call to your marketing for the latest conversion rates. If the client finds the rates favorable, you can instruct the marketing to assist with the conversion which will be done immediately.
There is a charge for each currency conversion and the charges for such conversion is as below :
Currency |
Charge (applicable to non-BATH) |
|---|---|
USD |
USD 1 |
EURO |
EURO 1 |
HKD |
HKD 8 |
SGD |
SGD 1 |
MYR |
MYR 3 |
AUD |
AUD 1 |
JPY |
JPY 100 |
CAN |
CAN 1 |
GBP |
GBP 1 |
WON |
WON 1,000 |
Q8. How do I top-up my Offshore Derivative account?
To facilitate settlement of your trading transactions/margin call, you may opt for any of the following settlement mode:
- Deposit money to Phillip’s account. The account name is Phillip Securities (Thailand) Plc. Money can be deposit through commercial banks’ service.
Bank |
Branch |
Account No. |
Account Type |
|---|---|---|---|
| Kasikorn Bank | Pahon Yothin | 099-2-98481-3 | Saving Account |
| Kasikorn Bank | Sathorn | 038-2-57209-2 | Saving Account |
| Bangkok Bank | Headquarter | 101-3-22198-9 | Demand Account |
| Krung Thai Bank | North NaNa | 000-6-20045-1 | Demand Account |
| Bank of Ayudhya | Bangrak | 007-1-57994-1 | Saving Account |
| Thai Military Bank | Headquarter | 001-1-29131-7 | Demand Account |
| Siam Commercial | Witthayu | 049-3-10044-3 | Demand Account |
| Thanachart | Siam Discovery | 040-3-00005-7 | Saving Account |
| Siam City Bank | Silom | 103-2-20009-5 | Saving Account |
*The client has to fill Pay-in Slip completely including Name, Account Number, and type of account being deposited and please fax copy of the original Pay-in Slip to Phillip’s Operation Department at 02-635-1667 at the office hour (08.30 to 17.30) in order to process your money into your account.
Q9. Can I top-up my account with other currencies?
No.
Q10. How do I withdraw money from my Offshore Derivatives account?
You can download the form from our website. Alternatively you can obtain from our office or request from your dealer or our Offshore desk at 02 635 1717 or email to offshore@phillip.co.th
Note:The cut-off time for withdrawal form submission is 12.00am, any submission thereafter will be processed on the next business day.
Q11. Upon submitting the withdrawal request, how long does Phillip need to process it?
We need at least 3 working day.
Products FAQs
Q1. How do I find out about the trading hours of a particular contract?
Please refer to the contract specifications listed here.
Q2. How do I place my orders or trade?
You can trade by internet trading via POEMS trading platforms or you may wish to call your dealer to place your orders in office hours (8.30 – 17.30 ). For night session, please contact Singapore Dealing Desk +65 65351717
Q3. What are the commodity products offered by Phillip Offshore Derivatives?
Phillip offers commodity products in two main categories according to regulation:
- Energy Futures contracts: Crude Oil, Brent Crude Mini Crude Oil, Natural Gas, Mini Natural Gas, Kerosene, Gasoline and Crude Palm Oil.
- Metal Futures contracts: Gold, Mini-sized Gold, Silver, Mini-sized Silver, Copper, Palladium, and Platinum.
Trading
Q1. What is the procedure to call-in and place trade?
State your order clearly to the Dealer, paying attention to the contract month (Futures trading), quantity, and order buy or sell.
Q2. How do I get confirmation if I place an order with the Dealer and it’s done?
You may call to your dealer to confirm the trades done.
Q3. Can I call-up the dealer to check on my Net Position?
Yes, you may call to your marketing to check your Net position.
Q4. What should I do if I have a margin call?
To meet the call, you can either top-up your account back to the initial margin level or liquidate sufficient open positions to bring the initial margin level below the Equity Balance of your account.
Q5. How much time do I have to top-up for my margin call?
- In the event that the Equity Balance (EB) falls below the Maintenance Margin (MM) requirements, but stay above the forced close margin (FM) levels, the client is not allowed to open a position and is required to top up collateral to restore it back to the Initial Margin (IM) requirements by 15:00 hrs of the following day (T+1)
- If the client fail to top up collateral within the specified period of time, the Company will force close their positions in part or in whole by 12.30 hrs of the next trading day (T+2) to maintain their collateral levels to meet the Initial Margin (IM) requirements, which are calculated at the end of T or T+1, whichever is higher.
- The client must bear the risk of the possible loss, which may be higher than the whole amounts of collateral placed by the client. The client must pay such losses to the Company within the following trading day.
- If the values of the collateral on T+1 rises until the value of the force closeout narrows, the Company will use the amount at the end of T+1 to force close the position on T+2, but the client is required to top up collateral equal to the reduced amount of the force close out value on T+2, or otherwise the client may not be allowed to create new positions.
- The Company will try its best effort to notify such margin calls to the clients by phone call or e-mail. Please ensure that your contact details with the Company are updated at all time.
- Not withstanding the above, the Company reserves the right, without prior notice to customers, to liquidate any position(s) on the occurrence of either the total equity balance drop below 20% of IM, or the Margin Call is not met by T+2, whichever occurs first.
Q6. What will happen if I do nothing to my margin call on T+1?
If you did not top up your account by the due date, Phillip have the absolute discretion and without further notice to you, liquidate the position(s) to bring your equity balance above your Initial Margin level.
Q7. What does ‘First Notice Day (FND) refer to?
First Notice Day refers to the first date on which notices of intentions to deliver actual commodities against futures are authorized. This date varies by commodity and exchange. If you are holding futures position, you will need to liquidate or roll over the position prior to the first notice date.
Q8. Why must I liquidate/rollover my position towards the First Notice Day?
No physical delivery is allowed under the current BOT/SEC guidelines. All customers shall liquidate the open positions on the First Notice Day to avoid thin liquidity and physical delivery. The customers will be informed on the First Notice Day thru the reminder e-mail.
Q9. How will I know whether my futures contract is approaching First Notice Day?
1) The Company would try its best effort to send such reminder to clients through emails as below
a) First reminder: 5 business days prior to the FND
b) Second reminder: 2 business days prior to the FND
2) In the event that the client fails to liquidate the position within the last 1 hour prior to market closing time, the Company would reserve the right to liquidate such position to avoid any physical delivery.For more information on FND, you may also refer to our electronic calendar on the Phillip website at here.
Q10. What will happen if I do not liquidate my open positions two business days before FND/LTD?
Liquidation by Phillip will take place 1 hours before market closes for all products.
Please do not liquidate your position during the last 1 hour of trading on Liquidation Day. This is to avoid duplicate liquidation which will result in the creation of new position Please contact your dealer or Offshore Desk at 02 635 1717 if you require any further clarifications on liquidating your open position to avoid physical delivery.