Stocks can be operated in disguised form of T+0, because they can be packaged and shipped through ETF. For example, the current stock index futures are the trading rules of T +0. Trading in the Shanghai and Shenzhen A-share markets is a T+ 1 trading rule, that is, the stocks bought on the same day cannot be sold until the second trading day, and the money after selling the stocks on the same day can be bought on the same day. If you do T+0, you can only buy the stocks held the day before, and then sell the original stocks on the same day to realize the profit of the day.

At present, domestic stock exchanges implement the T+ 1 system for stocks. However, due to too many main holdings, the stocks bought today can achieve the trading effect of T+0 through replacement. For example, investor R holds 65,438+00,000 lots of X shares, and investor R bought 65,438+000 lots in the previous decline of X shares today. X shares rose sharply in the afternoon and are expected to fall tomorrow. But if they can't sell what they bought today, they will throw away the corresponding 100 lots of original chips and treat the 100 lots of stocks they bought today as.

The so-called T+0, the premise is that you have held the stock before, in order to achieve T+0 in the operation. For example, you used to have 200 shares, but today it fell, and you bought another 200 shares. If it goes up today, you can sell another 200 shares. At this time, you sold your original 200 shares instead of the 200 shares you bought today.

T+0 is the abbreviation of securities trading settlement system. In academic research and practical business, T+0 can be subdivided into T+0 trading system and T+0 settlement system. Generally speaking, the funds obtained by selling stocks on the same day can buy stocks on the same day, and the stocks bought on the same day can be sold on the same day (T+0 transaction), while the securities and funds are cleared and delivered on the day when the transaction actually occurs (T+0 settlement). The above two cannot be confused. T+0 settlement is a necessary and sufficient condition for T+0 transaction.

T+0 trading system refers to a securities trading mechanism that "investors can buy stocks on the same day with the funds obtained from selling stocks on the same day, and the stocks they buy on the same day can be sold". In fact, T+0 trading is a popular name among participants in China stock market, and its official name is "intraday revolving trading". The trading rules of Shanghai Stock Exchange (revised 20 18) clearly state that "revolving trading of securities refers to the securities bought by investors, which are sold in whole or in part before delivery after the transaction is confirmed".