Pending order means the customer buys or sells account-based precious metals at the order price when the quotation meets the pending order. Real-time trading means the customer buys or sells account-based precious metals instantly at quoted prices of ICBC. In “sell first, buy later” mode, the transaction where customer sells account-based precious metals is called “sell to open”, while the transaction where customer buys account-based precious metals is called “buy to close”.Īccount-based precious metals are divided into real-time trading, pending order, conversion and automatic investment plan by the transaction mode. The transaction volume of certain account-based precious metal bought by the customer shall not exceed the balance of the account-based precious metals recorded in the “sell first, buy later” account. “Sell first, buy later” means the customer initially conducts a sale and then buys account-based precious metals in a full or partial quantity of the sale. In “buy first, sell later” mode, the transaction where customer buys account-based precious metals is called “buy to open”, while the transaction where customer sells account-based precious metals is called “sell to close”. The transaction volume of certain account-based precious metal sold by the customer shall not exceed the balance of the account-based precious metals recorded on the “buy first, sell later” account. “Buy first, sell later” means the customer sells existing account-based precious metals bought previously. The two trading modes shall be independent of each other. For trading account-based precious metals transactions in USD, the measurement unit shall be “USD/ounce” for quotations and USD for fund settlement, rounded to two decimal places.īy type of transaction, account-based precious metal transactions are divided into “buy first, sell later” and “sell first, buy later” transactions. Quotation for RMB trading account-based precious metals is expressed in “RMB/g and funds are settled in RMB and shall be rounded up to two decimal places. This product is applicable to personal customers who have the full capacity for civil conduct, possess adequate risk tolerance and have passed the product suitability assessment.Īccount-based precious metal trading varieties include account-based gold, account-based silver, account-based platinum and account-based palladium.Īccount-based precious metals transactions are denominated in RMB or USD, with the latter further divided into USD cash and USD spot exchange. Physical delivery is not available for other account-based precious metals. Account-based gold could be converted into branded gold with physical delivery based on relevant quotation at a counter to meet customers’ needs. ICBC Account-based Precious Metal is an investment product ICBC offers to personal customers for the trading of precious metal shares in RMB or USD through bookkeeping.
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