When the buying price is greater than or equal to the selling price, the transaction will be automatically matched. The matching transaction price is equal to the middle value of the buying price (bp), selling price (sp) and the previous transaction price (cp). Namely:
When bp≥sp≥cp, the latest transaction price =sp.
Bp≥cp≥sp, the latest transaction price =cp.
Cp≥bp≥sp, the latest transaction price =bp.
This matching method has two basic principles. First, the transaction can only be concluded if the purchase price is greater than or equal to the selling price. Second, the transaction price should be as close as possible to the previous transaction price. This matching method can minimize the losses caused by traders' input errors, and at the same time ensure that the market changes as smoothly as possible.
For example, the previous transaction price was 30,500 yuan. If the following quotation appears:
(1) Everyone thinks that the price may go up, and the long and short prices are all upward quotations. In order to ensure that the bid price is higher than the sell price, for example, the buy/sell declaration is 30500/30540, and then the transaction price is 30540, which is closer to the previous transaction price than 30550. Theoretically, if it is the market price, many parties can hang it in the daily limit price. Because the price is the priority, the list ranks first, but the transaction price is not the daily limit price, but the seller's price is gradually changed from low to high.
(2) Everyone thinks that prices may fall, and long and short prices are quoted downwards. Therefore, the buying price and selling price are lower than the current transaction price. Of course, the purchase price must be equal to or higher than the sales price. For example, the transaction declaration is 30450/30450, and of course the transaction price is 30450; If the transaction declaration is 30470/30450, then the transaction price is 30470. Similarly, 30470 is closer to the previous transaction price of 30500 than 30450. Similarly, in order to sell at the market price, you can hang a sale order at the daily limit price, and the transaction price is the purchase price that changes gradually from high to low.
(3) If there is a big difference between long and short views and many parties are bullish and bearish, for example, the transaction declaration is 30530/30480, then the previous transaction price is 30500. For both long and short parties, the transaction price is better than the lowest acceptable transaction price.