1. Who is Phillip Futures Sdn Bhd?

• We are a member of Trading Participant of Bursa Malaysia Derivatives Exchange and General Clearing Participants of Bursa Malaysia Derivatives Clearing Berhad
• Besides, we are the first futures broking company in Malaysia to provide online trading platform on Bursa Malaysia Derivatives Exchange and Foreign Specified Exchanges products.
  

2. I am new to Futures, and how I can get started?

To get started you need to open an Individual Account with the following process:

*For Corporate account opening, please contact 03-2783 0388

3. What are the operating hours for Phillip Futures?

For Marketing Enquiries	For Dealing Enquiries
9.00am to 6.00 pm Monday to Friday (Except Public Holidays)	7.30 am to 11.00 pm Monday to Friday Including public holidays (Public Holiday schedules for global futures exchanges will be updated by email)

4. How do I know the margin requirements for different contracts?

Phillip Futures will send to clients a product list which includes margin requirement on regular basis via email. You may contact Dealing (603) 2711 0026 or Marketing (603) 2783 0388 for further details

5. Does Phillip Futures provide free charting services?

Yes, Phillip Futures offers charting tools* from third party vendors. This service is provided as value added to our clients. Our clients will enjoy free or lower access fees (depending which packages they choose) if they sign up through us.

For more informations, please contact Marketing Desk at (603) 2783 0388

*Terms and conditions applied

6. Is any third party fund transfer allowed?

We do not allow any third party funds transfer.

7. Can I open an account via online or electronic?

You may submit your enquiries via www.poems.com.my, and we will follow up with your inquiries.

8. What are the benefits or services provided by Phillip Futures?

We provide the following services to our clients;-

• 24 hours broking and execution services
• Free access to our online trading system, POEMS Professional.
• Access Global futures products
• 90 products from various exchangesclick here for more information
• Daily research reports from Dealing team

1. What is Futures contract?

A futures contract is a standardized agreement to buy or sell a quantified amount of instrument at specified price on a specified future date. The quantity and quality of the goods are specified in the contract and the price and delivery period are set at the time the contract is opened.

There are different categories of futures contracts which can be identified into Agriculture Futures, Precious Metal Futures, Indices Futures, Interest Rate Futures, Commodities Futures and many more.

2. Why trades Futures?

Futures is used for the purpose of Hedging, Speculation and Arbitraging.

Hedging is using futures limiting the risk that arises from large fluctuations in prices. It is a form of insurance to prevent adverse price movement. Taking a futures position opposite to the current physical position held

Speculation deals with changes in the expect price levels overtime and do not own physical delivery. They speculate profit from futures trading by buying contracts at lower price and selling at a high price

Arbitraging is simultaneous purchase and sell of the same instrument in different market to profit from price discrepancies.

Advantages of Futures Trading

Leverage Futures market enables the ability of making large profits (or losses) for relatively small outlays of capital (the margin) with the existence of leverage.

1. Where can I get the seminar information?

We update seminar and coaching schedules regularly at our website. Please click here to know more about seminar information.

2. How do I register the seminars or coaching session?

Phillip Futures provides free education seminars and coaching sessions. You may register at the following link:
a. Online register for both seminar and coaching sessions
b. Call in to make an appointment for coaching sessions only

3. Do I need to pay for one-to-one coaching session?

Coaching session is conducted at no cost. It mainly caters for beginners who are interested in Futures and/ or Options trading but do not have any knowledge of these products or markets.

We focus on the following topics;

• Guidance on trading platform usage
• Understanding Futures / Derivatives Trading
• Market information in Trading
• In-depth on Technical Analysis.

Feel free to contact us for appointments on weekday at your convenience time. Please click here for more information

1. What are the requirements to open a Phillip Futures trading account?

The requirements for opening an individual/ corporate account are as below:

Individual Account	Necessary Documents
Malaysian	1. Photocopy of NRIC 2. Latest Pay slip/EA Form or Bank Statement
Foreigner	1. Photocopy Passport 2. Latest Pay slip/ EA Form or Bank Statement

Corporate Account

Necessary Documents

Incorporated in Singapore/Malaysia Others

1. Latest Audited Financial Statements or Annual Report 2. Certificate of Incorporation/Registration 3. Memorandum and Articles of Association 4. Directors' Resolution 5. List of Authorised Signatures and List of Authorised Traders 6. Photocopies of NRIC/Passports of ALL Directors, Authorised Signatories, Authorised Traders and Shareholders *Note: Additional document(s) may be required for compliance purposes

2. How long does it take to open a Phillip Futures trading account?

Individual Account: Usually it takes 3 business days to process a new account upon the receipt of client’s funds and necessary documents.
Corporate Account: We will require at least 5 business days to process. Under some circumstances, it may take a longer time.

Trading Account Statement

1. How do I view my daily account statement?

A daily trading account activity statement will be sent to you by email or mail depending on your option. If you would like to switch receiving the daily trading account statement from email to mail format or vice versa, you may contact our Dealing Desk at (603) 2711 0026.

2. Why am I being 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 unrealised losses), you will be charged interest for having a deficit in that currency. Interest rates will change from time to time.

Top-Up and Withdrawal

1. How do I top-up my fund in my trading account?

To facilitate settlement of your trading transactions/margin call, you may opt for any of the following settlement mode:

• Cheque
• Telegraphic Transfer Instructions (please click here for more information)

Note: Please cross the cheque; strike-off bearer and make cheque payable to “Phillip Futures Sdn. Bhd.” Kindly indicate your Phillip Futures Account number and contact number on the reverse side of the cheque.

2. How do I withdraw my money from futures trading account?

You need to complete the withdrawal form. Please click here to acquire.
Thereafter, please follow the steps below;
a. Fill up the withdrawal form with authorised signature
b. Return the form by fax at 03 2162 1678 or email to pfsb_dealing@poems.com.my

Notes:

• The cut-off time for daily submission is 10.30 am. Any submission after 10.30 am, will be processed on the next business day
• Any remittance charges from the bank will be borne by client.

3. How long does it take to process the withdrawal upon submitting the request form?

The cut off time for withdrawal request is by 10.30 am daily, via email or fax. Please refer to the following for respective currencies instruction.

MYR Currency: Process within 1 business day
Foreign Currencies: Process within 2 business days

If clients submit their withdrawal request before the cut-off time, it will be processed within the same day. Otherwise, it will be processed on the next business day.

Notes: Any submission after 10.30 am, will be processed on the next business day

Update of Personal Particulars

1. How can I update my latest particulars with Phillip Futures?

You need to complete Change of Particular form. Please click here to acquire.

Thereafter, please follow the steps below;
a. Fill up the form with authorise signature
b. Return the form by fax at 03 2162 1678 or email to pfsb_dealing@poems.com.my

Call-In (Dealing Desk)

1. How to place an order when I call in?

Please follow the steps below so that you may place your order correctly.

2. Who should I contact for confirmation of orders and checking of net position?

You may contact the Dealing Desk at (603) 2711 0026

Margin Call

Clients are to refer to the current margins of the respective contracts for the latest margin requirements. Please be advised that margins are subjected to change without further notice.

1. What is margin?

Margin is the equivalent of a good faith’s deposit placed by the parties to a contract.

2. Who determines the amount of minimum margin?

The amounts of the minimum Margin deposits are determined by the respective Exchanges and are subjected to changes due to price movement and/or market volatility. Phillip Futures may set a higher Margin requirement.

3. What is the definition of leverage?

Futures contracts are leveraged to enable trading on Margin. The amount of initial Margin required to place a new trade is only a small percentage of the total contract value. As leveraging provides customers with the ability to utilize a small amount of capital to control a large amount of assets, customers need to be aware of the risk of leverage trading.

4. What is the different between initial Margin and Maintenance Margin?

Initial Margin refers to the amount of funds required to be deposited before initiating a trade.

Maintenance or Call Margin refers to the minimum Margin amount the trading account has to maintain in order to hold on to the position. If the account balance falls below this level, client will be deemed to be on Margin Call.

5. How do I know if I have a margin call?

When your Equity Balance (ledger Balance +/- Unrealized Profit/Losses) falls below the Maintenance Margin level for the established open positions, you are considered to be on Margin Call.

The Margin Call notification will usually be made by a telephone call. If you are not contactable, we will send the notification via SMS and/or email to your registered mobile phone number and/or email address. Please ensure that your contact details are updated at all time to avoid any miscommunication.

Or
A notification regarding the occurrence of Margin Call will be made to client via Email, SMS, or Phone Call. This will require an immediate action from clients; i.e. Top up funds, liquidate sufficient positions or others

6. What if clients are not contactable for Margin Call?

While we will try our best to notify a customer of Margin Calls, in the event that a customer failed to be notified of any Margin Call, Phillip Futures reserves the right, without prior notice to clients, to liquidate any position(s) on the occurrence of either the Total Equity Balance faces full depletion, or the Margin Call is not met by T+1, whichever occurs first.

7. 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.

8. How much time do I have to top-up for my Margin Call?

Under normal market conditions, you may have up to Trade Date + 1 (T+1) business day to top-up your account upon the occurrence of Margin Call.

In extremely adverse market conditions, Phillip Futures might require a client to top-up his account within a reasonable time (2 hours is deemed as a reasonable time).

Notwithstanding the above, Phillip Futures reserves the right, without prior notice to clients, to liquidate any position(s) on the occurrence of either the Total Equity Balance faces full depletion, or the Margin Call is not met by T+1 (or such time as stipulated by Phillip Futures from time to time), whichever occurs first.

9. Can I trade when I have an outstanding margin call?

When you have an outstanding Margin Call, you may only place risk reducing trades. However, You may place risk increasing trades upon successfully topping up of your account with sufficient funds to cancel off the outstanding Margin Call and for the Initial Margin of the new trades, before the respective cut-off time on the first day of Margin Call (T+1). Phillip Futures reserves the right not to accept any orders resulting in risk increasing trades.

10. Phillip Futures' Low Equity Policy

A trading account is in Low Equity when trading account balance is less than 50% of the Initial Margin of all the contracts held in the trading account. While there is no legal obligation to notify the Client, we will do our best to inform the Client of “Low Equity” situation through a phone call, SMS or email under the circumstances. Client will have to top up funds or liquidate the positions before the trading account balance reaches 20% of the Initial Margin. If there is no action by the client when trading account balance reaches 20% of the Initial Margin, Phillip Futures will liquidate the position for the client to prevent the trading account going into over loss.

First Notice Day (FND) and Last Trading Day (LTD)

1. What does ‘First Notice Day (FND) and Last Trading Day (LTD)’ 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 a long futures position, you will need to liquidate or roll over the long position prior to the first notice date.

Last Trading Day refers to the final day during which trading may take place in a particular futures delivery month. This is again according to the rules set by the exchange. Futures contracts that remain outstanding at the end of the last trading day must be settled by delivery. If you are holding a short futures position, you will need to liquidate/rollover the short position by the last trade date to avoid physical delivery.

2. Why must I liquidate or rollover my position towards the First Notice Day and Last Trading Day?

a) To avoid physical delivery
As explained above, the vast majority of physical deliverable futures contracts are traded by hedgers or speculators with no interest in taking or delivering the underlying asset. Most traders simply close out the positions by purchasing offsetting contracts to avoid the risk of physical delivery.
b) To avoid thinning liquidity
Towards the last day of trading, physically-settled contracts will typically experience thin liquidity. This is due to the fact that traders who do not intend to convert their futures contracts to physical goods would have already exited the market either by rolling over their positions to the next delivery month or simply closing out their positions to avoid physical delivery. Naturally, such actions by traders who hold larger positions would have more significant impact on price movements and markets are therefore subject to more intense volatility as the futures contracts head towards expiration.

3. Are clients allowed to take physical delivery?

Clients are not allowed to take physical delivery. Phillip Futures will not accept or take delivery of physically‐delivered products and reserves the right to force‐liquidate all Buyers’ or Sellers’ open positions two days prior to FND and LTD.

4. How will I know whether my futures contract is approaching First Notice Day and Last Trading Day?

It is necessary for you to watch your positions closely so that you are aware of the FND/LTD of the futures contract(s) that you are holding. In addition to this, Phillip Futures will remind you through emails. We will send you the first reminder email five business days prior to the FND/LTD, and the second reminder email two business days prior to the FND/LTD. In the reminder emails, you will be reminded to liquidate or roll over your positions before the ‘30 minutes period’ prior to market closing time on the FND/LTD. You will also be clearly informed about the consequences of failing to do so i.e. Phillip Futures will attempt to liquidate your positions within the last ’30 minutes period’ prior to market closing time in order to avoid physical delivery.

5. What will happen if I do not liquidate my open positions two business days before FND/LTD?

Liquidation by PFSB will take place 30 minutes before market closes for 5 COMEX metal products.

Liquidation by PFSB will take place 30 minutes before market closes for all other products.

You do not need to liquidate your position(s) within the last ‘30 minutes period’ prior to market closing to avoid duplicate liquidation which will result in the creation of new position(s).

Please contact the Futures Dealing Desk at (603)2711 0026 if you require any further clarifications on liquidating your open position to avoid physical delivery.

Error Trade

1. How can I verify if I have the following problems?

a. There is a trade that is shown in my account but it is not done by me.
b. An order was placed at the wrong execution price.
Please contact Dealing Desk at (603) 2711 0026 to verify the order price, check your trade done or other trade execution confirmation.

Type of Orders (Definition)

1. Limit Order

An order places to Buy/Sell at a price upon submitted or better. A Limit order sets the price at which the trader is willing to buy or sell at. Accordingly, whereas a price of Buy Limit order should be lower than the market price, a price of Sell Limit order should be higher than the market price.

2. Stop Order

A Stop order is a risk management order type which trader use to limit their losses or protecting their existing position. It can be used to initial new position. A Sell Stop usually place below current market price and a Buy Stop will be placed above current market price. In addition to risk management purpose, some people use Stop Order to trade on the market break.

3. GTC Order (Good-till-cancel)

A Good-till-cancel (GTC) order will remain active until the Trader decides cancel it.

4. Market Order

Market orders take priority over all other orders. When the market opens, they are executed at the opening price. During the trading session, they rise or fall to any price necessary until they are fully executed.

5. Stop! or Stop Limit!

The Stop! or Stop Limit! order with exclamation mark (!) is a server stop order or synthetics Stop Order. Those orders are offered by Phillip Futures, not offered by the exchange. This Stop Order will rest in Phillip Futures server, thus there will be some delay for those orders to be filled. Phillip Futures will not guarantee for the orders to be filled and we are not liable for it. These orders are offered to clients’ goodwill. For Stop Limit! Order, clients are encourage putting a stop order with a far away gap.

POEMS Professional

1. Where can I download POEMS Professional?

To download POEMS Professional, please click here.

2. What are the specifications of PC required to run POEMS Professional?

• Win 2000 Professional, Win XP Professional or Win Vista32-bit OS only: 64-bit OS’s not supported
• 1.5 GHz P IV PC or equip
• At least 1 GHz (RAM)
• 50MB Free HDD Space
• 1 or 2 x 17"monitor, suitable video card (recommendation only). Keyboard, mouse
• Required Java Technology
• Internet Explorer 5.5 (not on XP) or 6, incl. Sun JVM 1.4.2.x / 1.5.x (v1.6.x planned) for J-Trader Client PC Web



Note: We regret to inform that POEMS Professional is not compatible on a Macintosh.

3. Why are my positions different from my statements?

You need to log out from the system daily when it closes for maintenance at 5.15 am (DST) and 6.15 am (Non-DST) and re-login again at 6:00 am or 7:00 am respectively.

4. Why can’t I see my daily transactions in the reports tab?

At the login page, please check that the “Reports” button is selected before logging in.

5. Why are my prices for trades done yesterday different?

The system takes in the previous settlement price as reference and any difference in P/L is adjusted in the cash buying power.

6. How do I see my cash available?

It is displayed on the "Position" tab as "Cash Buying Power Remaining". If you are still unable to see, right click on the "Title Bar" and click "Select Columns" and then select the respective heading that you need.

7. Why do I see a “S” status order?

“S” status happens when your internet connection is slow or the trade transmitting has dropped. If “S” status occurred, please contact Dealing Desk (603) 2711 0026.

8. Why is the status not showing my actual fill price but average price?

The average price summarizes all the fills in a single consolidation. If you want to see the actual fill information, just double click on the “Order Detail” and you will get the price breakdown trade by trade.

9. Why there some differences of the Trades, Risk Calculation, Position and Cash available from my trading system?

You might need to check your internet connection and re-log in your account.

10. I am unable to log in and was given the message “unable to log in, password has expired.” Why is this so?

POEMS Professional will prompt client to change password every 3 months.

11. I have just top-up cash in my trading account but my trades are being rejected when I try to enter trades. What should I do?

Please call our Dealing Desk at (603) 2711 0026 or email to pfsb_dealing@poems.com.my

12. I am unable to place a trade from the reflector. Why is this so?

Please ensure that you have entered the lot size.

13. Is commission being taken into account in the profit and loss?

No. Commission will only be reflected in your daily activity statement on the next business day.

14. Does POEMS Professional support GTC orders?

Yes, GTC order is only available for BMD, CME and CME_CBOT products in POEMS Professional.

15. Do all version of POEMS Professionals offer GTC order?

GTC order types will be available on version 7.5.3 and above. If you own a POEMS Professional version lower than the mentioned, please upgrade it to the latest version 9.3.4.

16. What is the validation time of GTC order?

GTC order will be valid until you manually cancel it or when the contract expires (whichever is earlier).

17. Is there any scenario where a GTC order will be cancelled or disabled?

GTC orders may be flushed out during exchange system outages or ad-hoc situation that may be specified by exchange.

18. Can I see my GTC order which is placed through the dealing desk from my own trading terminal (POEMS Professional)?

Yes, you will be able to view the order in your POEMS Professional trading platform.

19. Can I cancel a GTC order which is placed through the dealing desk in my own system?

Yes, since you can view the order from your POEMS Professional trading platform, you can make any changes to this order. However, you are required to inform the dealing desk about any changes that are made to the order in order to prevent any dispute of the trade.

20. Will I be notified when the GTC order is executed?

Yes, once the order is executed, you will be notified via a pop-up window through your POEMS Professional trading platform.

21. What will happen if my account is dormant for a period?

POEMS Professional user who has no trading activity for more than 3 months will have their login terminated. We will remove the access of the system due to concerns arising from intellectual property for usage or dissemination of market data.

22. Why there are no price quotes on my POEMS?

You have not added the contracts onto the price list. Click on “ADD” to add the contracts into the price list for viewing.

Technical Support

1. I can’t view prices. It is showing “Loading data, please wait”. What should I do?

• Download Java (SUN) from http://www.java.com
  Restart your PC when installation has completed.
• Go to Tools > Internet Option > Advanced. Look for Java (SUN).
• Tick the option under Java (SUN). (If any)
• Go to Tools > Internet Option > Temporary Internet Files > Delete Files > Check Delete Offline Content > OK.
• Close your Browser and try again.

2. I can’t log on to POEMS. It says “Invalid Password”.

Password is case sensitive. Please kindly check the password entry again. If you are still experiencing login problem, please contact our Dealing Desk (603) 2711 0026.