T+0 is a securities (or futures) trading system. On the day when securities (or futures) are traded, the trading system that handles the settlement and delivery procedures of securities (or futures) and prices is called T+0 trading. Generally speaking, the securities (or futures) bought that day can be sold that day. T+0 trading was once conducted in China stock market, because it was too speculative. In order to ensure the stability of the securities market, the trading mode of "T+ 1" is adopted in the stock and fund transactions of Shanghai Stock Exchange and Shenzhen Stock Exchange, that is, those bought on the same day will not be sold until the next trading day. At the same time, the funds are still "T+0", that is, the funds returned on the same day can be used immediately. Shanghai Futures Exchange implements "T+0" trading mode for steel futures trading. T stands for time.