Entrusted price: Entrusted price refers to the price that needs to be entered when placing an order, which is mainly divided into limit order and market order.

Transaction price: the transaction price refers to the price formed by the mobile matching system of the exchange, which sorts the transaction declarations according to the principle of price priority and time priority, and automatically matches the transaction when the buying price is greater than or equal to the selling price.

Second, how is the transaction price formed?

When the buying price is greater than or equal to the selling price, the exchange will automatically match the transaction, and the matching price is the drama price of the buying price, the selling price and the previous transaction price. Namely:

When the buying price ≥ selling price ≥ the previous transaction price, the latest transaction price is the selling price;

When the purchase price ≥ the previous transaction price ≥ the selling price, the latest transaction price is the previous transaction price;

When the previous transaction price is greater than or equal to the bid price, the latest price is the bid price.

When investors conduct futures trading, the exchange will only match or exceed the price entrusted by them. If they cannot match, a pending order will be formed.

Third, the entrusted price.

Entrusted price: Entrusted price refers to the price that investors want to trade at a certain price. There are several ways to delegate. The first way is counter entrustment, that is, investors bring their ID cards to the securities business department to fill in the consignment form, and finally let the tellers of the business department review it and submit it for execution. This method is relatively old and gradually withdraws from the market stage; The second is automatic entrustment by computer, which is much more convenient. We can fill in the stock code, price and quantity of the transaction directly on the computer of the securities business department and submit it ourselves. The third is telephone entrustment. Generally, the securities business department has its own telephone dedicated to issuing entrustment instructions. After dialing the phone, it can also complete the entrusted transaction by indicating the stock code, quantity and price. No matter which method you choose, the entrusted price is the price you set at the time of application. This price is different from the final transaction price because they don't appear at the same time. The transaction price often appears after the entrustment is issued, and the transaction has specific rules.