Beijing Stock Exchange (hereinafter referred to as "Beijing Stock Exchange") was incorporated on September 3, 221. It is the first company-based stock exchange established in China with the approval of the State Council, and is supervised and managed by China Securities Regulatory Commission. The business scope includes providing places and facilities for centralized securities trading according to law, organizing and supervising securities trading and securities market management services.
The differences between T+1 trading system and T+ trading system are as follows:
1. The concept is different
T+ is a widely used securities (or futures) trading system in the world. A trading system in which the securities (or futures) and the price settlement and delivery procedures are handled well on the day when the securities (or futures) are traded is called T+ trading. Generally speaking, the securities (or futures) bought on the same day can be sold on the same day.
T+1 is a stock trading system, that is, stocks bought on the same day cannot be sold until the next trading day. In China, the Shanghai Stock Exchange and Shenzhen Stock Exchange adopt the "T+1" trading method for stock and fund trading banks, while the China stock market adopts the "T+1" trading system, and the stocks bought on the same day cannot be sold until the next trading day.
2, the advantages are different
T+ trading system can be traded many times in a day, and the market transaction volume is large, which is conducive to speculators chasing up and down. Under the T+ trading system, the same fund is used repeatedly in the process of buying up and buying down, which greatly improves the utilization rate of funds and makes the investment more flexible.
T+1 trading system can ensure the relative stability of the stock market and prevent excessive speculation. In stock market trading, the circulation of a single share is certain, and the small makers of a single share are easy to manipulate. The stock market makers buy or sell a large number of shares in a certain period of time, which has great influence on the rise and fall of the stock price. The introduction of T+1 mechanism limits the efficiency of dealer manipulation to a certain extent and can stabilize stock prices to a certain extent.
3. Different flexibility
Compared with the T+ trading system, the T+1 trading system is less flexible. Under the T+1 trading system, the stocks bought on the same day can't be sold on the same day, and they need to wait until the next day, so the capital turnover utilization rate is poor. Within a day, the stock market changes rapidly, so it is difficult for investors to accurately track the changes in the stock market. When the market drops sharply, customers can't stop and leave in time, and it is difficult to predict the degree of risks and losses, which is unfavorable to investors.