These times are indicative and may vary depending on market conditions and order flow on listing day.

What is the price-discovery phase?

When a stock first lists, the Nasdaq runs an opening process — called the opening cross or price-discovery phase — to determine the initial trading price based on buy and sell interest. For SPCX, this is expected to run from 9:30 PM to approximately 1:00 AM SGT.

During this window, no orders execute. Once the phase is complete and SPCX is confirmed as fractionable, all queued orders are released and regular trading begins. This is normal behaviour for newly listed stocks, especially high-demand IPOs.

What is Upcoming Listings feature on Syfe Trade?

Upcoming Listings shows you stocks that are scheduled to list on an exchange soon — so you can see what's coming and queue an order well in advance, giving you more time to research and decide.

You place (queue) your order before the stock starts trading. We hold it and submit it automatically once the stock is listed and tradable. Upcoming Listings is available to all Syfe Trade clients. Link to queue the SpaceX order. Please update to the latest app version 16.3.1 for the best experience.

When can I start queuing an order for SPCX?

It depends on your order type:

• Market-by-value orders — can be queued from one day in advance (11 June). Link to queue the order. Please update to the latest app version 16.3.1 for the best experience.
• Limit orders (GTD and GTC) — can be queued from 5:30 PM SGT on 12 June

All queued orders are held and released automatically once SPCX has completed price discovery and is fractionable (~1:00 AM SGT).

What order types can I choose, and how do they work?

You may place the same order types that are already available on our brokerage platform. The available order types are outlined below:

Limit order

You set the maximum price you're willing to pay. Your order goes live once SPCX starts trading and executes only if the stock trades at your specified price or better. If the stock never reaches your price, the order stays open or expires unfilled depending on the expiry setting you choose. This is the recommended order type if you want more control over the price you pay on a volatile listing day.

Market order — by value (in dollars)

You specify the dollar amount you want to invest (e.g. USD 500). Your order executes at the prevailing market price for that value once price discovery is complete and the stock is fractionable. You do not control the exact price.

Market order — by quantity (in shares)

You specify the number of shares you want to buy (e.g. 3 shares). Your order executes at the prevailing market price once price discovery is complete and the stock is fractionable. You do not control the exact price.

Stop Loss order

You set a stop price below the current market price to help limit potential losses. Once the stock trades at or below your stop price, the order is triggered and submitted for execution. Execution price is not guaranteed and may differ from your stop price, especially during periods of high volatility or rapid price movements.

Trailing Stop Loss order

You set a trailing amount or percentage instead of a fixed stop price. As the stock price rises, the stop price automatically moves up by the specified trail amount or percentage. If the stock price subsequently falls by the trail amount or percentage, the order is triggered. This allows you to help protect gains while giving the stock room to continue rising. Execution price is not guaranteed and may differ from the trigger price.

For all order types, execution is expected from approximately 1:00 AM SGT onwards.

Will my queued order definitely execute?

• Market order (by value or by quantity) — will execute at the prevailing market price after price discovery, from around 1:00 AM SGT
• Limit order — executes only if SPCX trades at or below your specified price. If the market does not reach your price, the order stays open or expires unfilled depending on its expiry setting

Why hasn't SPCX started trading even though the US market is open?

The US market opens at 9:30 PM SGT, but SPCX will not trade immediately. The Nasdaq runs a price-discovery process first, where market makers collect orders to establish a fair opening price. For SPCX, this is expected to run until approximately 1:00 AM SGT. This is normal for newly listed stocks, especially high-demand IPOs.

Can I cancel or change my queued order?

Yes — at any time before the order is released to the market. Once price discovery ends and your order has been submitted to the exchange, standard order amendment rules apply. If you want price flexibility after your order is live, a limit order gives you more control than a market order.

Should I expect trading halts?

Yes. Newly listed high-demand stocks often experience multiple trading halts on day one due to sharp price movements. These are triggered by US exchange rules (Limit Up–Limit Down, or LULD), which pause trading when a stock's price moves outside set bands.

During a halt, your open orders are held and not automatically cancelled. They remain active and eligible to fill once trading resumes, subject to your specified limit price.

Will extended hours or overnight trading be available for SPCX?

During the initial listing period, SPCX will be available for trading during regular US market hours only (9:30 PM – 4:00 AM SGT). Extended hours and overnight trading may not be available in the first few days as we monitor market conditions and liquidity.

When will options on SPCX be available?

Options on SPCX are expected to list around 16 June 2026. We will notify users when options become available to trade on Syfe Trade.

Are there any fees for queuing an order?

There is no separate fee for queuing. When your order executes, it is charged at your tier's standard brokerage rate. See our pricing page for details.

What are the risks I should know before trading SPCX?

Trading a newly listed stock carries additional risks compared to established securities:

• Higher volatility — prices can swing sharply in both directions, especially on day one
• No prior trading history — there is no public market price history to reference
• Execution delays — market orders will not execute until price discovery is complete (~1:00 AM SGT)
• Trading halts — LULD rules may pause trading multiple times during the session
• Wider bid-ask spreads — liquidity may be thinner early in the session
• Speculative valuation — at USD 1.75 trillion, SPCX is priced at a significant premium relative to current revenues

Please ensure you understand these risks before placing an order.