(1) The trading system ranks all valid buy orders from high to low according to the principle of price priority and time priority, and all valid sell orders from low to high according to the declared price.
(2) The trading system will match the buy and sell orders in front of the queue in turn until the transaction cannot be completed.
(3) If the last transaction is a complete transaction, that is, the number of buying orders is equal to the number of selling orders, the arithmetic average price of the declared buying price and the declared selling price of the last transaction is taken as the opening price; If the last transaction is a partial transaction, the declared price of some transaction orders will be taken as the opening price. The price is rounded off by the minimum change price of the futures contract.
(4) If no transaction is made, the opening price shall be the first transaction price after call auction.
Extended data:
Bid scope
Shanghai stock market:
When buying and selling securities without price limit, the effective declared price in call auction stage shall meet the following requirements:
(1) The declared price of stock trading is not higher than 200% of the previous closing price and not lower than 50% of the previous closing price;
(2) The highest declared price of fund and bond transactions is not higher than the previous closing price of 150% and not lower than 70% of the previous closing price. There is no price limit for the declaration of bond repurchase transactions in call auction stage. "?
Shenzhen market:
1. The effective bidding range of securities with price limit during their stay in call auction is consistent with the price limit range.
II. The effective bidding range for securities trading without price limit shall be determined by the following methods:
(1) The effective bidding range of call auction on the first day of listing is less than 900% of the issue price, and the effective bidding range of continuous bidding and closing call auction is 65,438+00% of the recent transaction price;
(2) The effective bidding range of call auction on the first day of bond listing is 30% above and below the issue price, and the effective bidding range of continuous bidding and closing call auction is 65,438+00% above and below the recent transaction price; The effective bidding range of call auction on the first day of non-listing is 10% of the previous closing price, and the effective bidding range of continuous bidding and closing call auction is10% of the latest closing price;
(III) On the first day of non-listing, the effective bidding range of call auction is 65,438+000% of the previous closing price, and the effective bidding range of continuous bidding and closing call auction is 65,438+000% of the recent closing price.
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