Holding positions at night only means that investors temporarily store their trading needs in the system of the entrusted securities company, not in the system of the stock exchange. Before 9: 00 the next day, the securities company linked with the stock exchange, and the exchange accepted the pending orders of the securities company from 9: 00 15. Therefore, the pending orders of the previous night and 9: 00 a.m. 15 all enter the stock exchange system at the same time, and there is no difference. At the same time, pending orders are sorted by price priority and quantity priority.

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1. In the electronic trading of the securities market, pending orders are equivalent to entrustment, that is, when investors decide to buy or sell stocks, they send instructions to the trading system by telephone, computer and other forms.

Banks often have to rest after 1: 30 in the evening or have something to go out temporarily. You can choose a pending order, also called a limit order, which means at what price you want to buy and sell, and then report this price to the system for trading, and at the same time report a deadline for pending orders, so that you can do other things with peace of mind. Cancel the list. You are about to cancel the suspended list.

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Second, the benefits of pending orders are:

Selling: if the opening price is the highest price of the day, then the pending order can help you sell the highest price;

Buy: If the opening price is the lowest price of the day, then the pending order can help you buy the lowest price.

The premise of pending orders is accurate judgment. For example, the market must be high and low (sell) or low and high (buy) on that day. Once the bill is reported lost, it must be recovered after it is issued, otherwise it is invalid (that is, the recovery is invalid).

3. Pending order transaction means that once the price specified by the customer reaches or exceeds the price specified by the customer, the customer's instructions are executed to complete the transaction, and the transaction price is quoted by the bank in real time.

The exchange rate of pending orders is better than the real-time exchange rate of banks, otherwise, transactions will be conducted at the real-time exchange rate. Pending orders are valid on the same day. Before the transaction, customers can also take the initiative to cancel the unfinished orders. After a customer makes a pending order transaction, the pending order amount is immediately frozen, and the amount cannot be used for payment or other purposes within the trading day unless the transaction is cancelled.

Call auction trading rules for securities:

1. The total bid price is also prioritized by price, time and quantity. The banker's order also entered the Shanghai or Shenzhen stock exchange system at 9: 15, but his order volume was large, so it ranked first. Pending orders from 9: 0015 to 9: 25 take precedence in chronological order.

Second, some securities companies can place orders in advance, but actually they all enter the exchange system at 9: 15. Orders placed the night before and at 9: 15: 00 entered the exchange system at the same time, and large orders were sold first.

Third, the entrustment before 9: 0015 was only in the securities company and was not reported to the exchange.

4. The securities company is connected with the exchange before 9: 0015, but the exchange begins to accept the entrustment of pending orders at 9: 0015. At this time, pending orders are regarded as the same time as those before 9: 0015, and the price and quantity take precedence.