2. The price limit refers to the situation that a futures contract only has a buy (sell) declaration with a stop-loss price within 5 minutes before the closing of a trading day, but there is no sell (buy) declaration with a stop-loss price, or the position is closed as soon as there is a sell (buy) declaration, but the stop-loss price has not been opened. Under the price limit system, the settlement price of the previous trading day plus the maximum allowable increase constitutes the upper limit of the price increase of that day, which is called the daily limit; The settlement price of the previous trading day MINUS the maximum allowable decline constitutes the lower limit of the price decline, which is called the daily limit. Therefore, the price limit is also called the maximum fluctuation limit of daily price. There are two forms of price limit range: percentage and fixed quantity.
3. The price limit refers to the fluctuation range of the securities trading price on the same day based on the closing price of the previous trading day in order to curb excessive speculation and prevent excessive ups and downs in the market. The highest price limit for the stock price to rise to this limit is the daily limit, and the lowest price limit for the stock price to fall to this limit is the daily limit. Price fixing is a measure to stabilize the market. In overseas financial markets, there are also measures such as market disconnection and suspension of trading, speed-limited trading, special quotation system, declared price and trading price limit, adjustment of experts or market intermediaries, and adjustment of trading margin ratio. There are three measures commonly used in China futures market: price limit, suspension of trading and adjustment of trading margin ratio.