RISKS OF AFTER. HOURS TRADING 盤後交易的風險 Trading in securities at times that are outside the ordinary trading hours for the Exchange(s) upon which such securities are traded ("After-Hours Trading" or “Extended Hours Trading”) involves additional risks. As a result, your order may only be partially executed, or not at all, or you may receive an inferior price in extended hours trading than you would during regular markets hours. Client must familiarizing themselves with such risks before undertaking any After-Hours Trading, including: 在交易所常規交易時段之外交易證券(“盤後交易”或”延長交易時段”)涉及額外風險。因此，您的訂單可能只是部分執行，或者根本不執行，或者您可能在延長交易時段內獲得的價格低於常規交易時段。在進行任何盤後交易之前，客 戶必須熟悉此類風險，包括： There may be lower liquidity in extended hours trading as compared to regular market hours. 與常規交易時段相比，延長交易時段的流動性可能較低。 There may be greater volatility in extended hours trading than in regular market hours. 延長交易時段的波動可能比常規交易時段更大。 The prices of securities traded in extended hours trading may not reflect the prices either at the end of regular market hours, or upon the opening of the next morning. 在延長交易時段交易的證券價格可能無法在常規交易時段結束時或第二天早晨開盤時反映價格。 Depending on the extended hours trading system or the time of day, the prices displayed on a particular extended hours system may not reflect the prices in other concurrently operating extended hours trading systems dealing in the same securities. 根據延長交易時段系統或一天中的時間，特定延長交易時段系統上顯示的價格可能無法反映在同一證券交易在其他 同時運營的延長交易時段系統中的價格。 Issuers may make news announcements that may affect the price of their securities after regular market hours which, if combined with lower liquidity and higher volatility, may cause an exaggerated and unsustainable effect on the price of a security. 發行人可能會在常規交易時段後發布可能影響其證券價格的新聞公告，如果再加上較低的流動性和較高的波動性， 可能會導致股票在短時間內達到一個不可持續的誇張價格。 Lower liquidity and higher volatility in extended hours trading may result in wider than normal spreads for a particular security. 延長交易時段內較低的流動性和較高的波動性可能導致特定證券的差價超出正常水平。 For certain derivative securities products, an updated underlying index value or intraday indicative value may not be calculated or publicly disseminated in extended trading hours, which may cause prices during Extended Trading Hours to not reflect the prices of those securities when they open for trading. 對於某些衍生證券產品，更新的相關指數值或日內指示值可能無法在延長交易時段內計算或公開發布，這可能導致 延長交易時段內的價格不能反映這些證券常規交易時段開始時的價格。 The Exchange(s) will not report a value of an index underlying an index option trading during Extended Trading Hours, because the value of the underlying index will not be recalculated during or at the close of Ex...
RISKS OF AFTER. Hours Trading 盤後交易的風險 There are special characteristics and unique risks associated with trading in securities at times that are outside the ordinary trading hours for the exchange(s) upon which such securities are traded ("After-Hours Trading" or “Extended Hours Trading”). You must familiarize themselves with these risks and determine whether After-Hours Trading is appropriate in light of their objectives and experience. You are responsible for familiarizing themselves with the hours of the relevant markets upon which they trade and for determining when to place orders for particular securities, how they wish to direct those orders, and what types of orders to use. Towering Securities Limited offer of After-Hours Trading does not constitute a recommendation or conclusion that After-Hours Trading will be successful or appropriate for all customers or trades. 在交易所正常交易時間之外所進行的證券交易，將涉及某些獨特的風險（“盤後交易＂或“延長交易時段＂）。閣下必須熟悉這些風險，並根據自己的目標和經驗以決定盤後交易是否合適。閣下有責任熟悉相關市場的交易時間，以及確定何時為特定證券下達合適的訂單指示。高格證券有限公司提供的盤後交易，並不構成對所有客戶或交易作出任何建議或結論。 Some risks associated with After-Hours Trading are as follows: 與盤後交易的相關風險如下：
