1. What is unified buying power?
Unified buying power is an aggregation of your buying power. It's available in both cash accounts and margin accounts.
1.1 Cash account :
TBNZ calculates an aggregated buying power by evaluating your assets of the same currency, including cash, and tiger vault funds.
The purchasing power of a cash account = cash in the same currency + the tiger vault funds in the same currency * 99%.
1.2 Margin account :
TBNZ calculates an aggregated buying power by evaluating your total assets, including cash, securities, and tiger vault funds.
The available funds in a margin account = cash in all markets + securities assets + the tiger vault funds * 99% - securities margin.
Note：
（1）The evaluation is based on your assets in security accounts and fund accounts.
（2）Considering the volatility of the fund's position market value, the purchasing power will be increased by 99% of the tiger vault fund's position market value, while adjustments will be made based on the company's operational situation.
2. What are the possible scenarios to use unified buying power?
Unified buying power can be used for securities trading and funds trading.
Tiger vault funds can only be bought by cash (not account purchasing power).
2.1 Cash account
If you hold cash/ tiger vault funds, you can buy securities, funds;
2.2 Margin account
If you hold securitys/cash/ tiger vault funds, you can buy securities, funds.
3. How to turn on unified buying power function？
3.1 Sharing cash assets between securities accounts and fund accounts
After opening a fund account, the cash assets of the securities account and the fund account are calculated unified by default. No additional operations are required.
3.2 Purchasing funds using securities assets as collateral
After opening a margin account and fund account, you can purchase funds (excluding tiger vault funds) using securities assets as collateral.
3.3 Purchasing securities and funds with tiger vault funds
APP home - Tiger Vault - Automatic Redemption - Management. Once automatic redemption is enabled, tiger vault funds can be included in the cash purchasing power for purchasing securities and funds (excluding tiger vault funds).
4. What are the charges?
There is no charge to enable unified buying power. However, interest will be accrued when the margin is used. For more information, please visit Financing interest rate - Help .
5. Will my tiger vault funds be redeemed automatically to my account with an outstanding balance?
If you have any account with an outstanding balance (including the frozen funds in IPO subscriptions), the system will automatically redeem the corresponding amount from your tiger vault funds at 19:00 and 20:10 EST.
Note: The above time is for reference only. Please refer to the actual occurrence time for accuracy.
6. Is there anything I need to be aware of?
● Like ordinary margin trading, if you use margin to purchase stocks, please pay attention to the risk level of your account. If your account status reaches "At Risk" due to the market fluctuation, you'll need to deposit funds or close positions to bring your risk level back to or below "Alert".
● Due to the daily redemption limitation set by the clearing broker, the actual redemption amount may not be enough to cover your outstanding balance, which may accrue extra interest. The system will continue to redeem the rest until there are no dues on your account.
● Once you disable unified buying power, the system will re-evaluate the risk level of your account (Tiger vault funds are no longer used as the asset basis for risk level evaluation). A margin call therefore might be triggered. In addition, the system will not continue to redeem your tiger vault funds automatically unless your account needs to be forced liquidated. If there is an outstanding balance in your account, please deposit sufficient funds in a timely manner.
7. Why does my account still bear interest when I hold cash/tiger vault funds?
Automatic transfers won't happen between your account with a positive cash banlance and account with an outstanding balance. The automatic redemptions from your tiger vault funds won't be triggered either. Dues and accrued interest can be paid off by depositing or transferring cash or exchanging currency.
Please note that if you use tiger vault funds for option/U.S. treasury trading, as the option/U.S. Treasury trading is T+1 settlement, tiger vault funds cannot be redeemed before the option/U.S. treasury settlement, and your account will generate one day's interest.