1, that is, the maximum transaction volume, price, time, etc. In a word, it is to quote first, then match, and then clinch a deal;
2. The closing principles of futures continuous bidding are price priority and time priority. That is to say, while quoting, matching and closing, it is the same as the continuous bidding of stocks here.
For futures call auction, it mainly means that futures investors in the market make free quotations within the specified time before the trading day, and the exchange determines the opening price of intraday futures varieties in call auction according to the overall trading situation, similar to the stock call auction. Another way of saying this is that market investors enter the trading price according to the closing price of futures varieties the day before and the market forecast of the day, and generally decide the opening price of futures varieties according to the principle of maximum transaction. This process is the call auction of the futures market. This call auction time can be divided into two parts. For futures, five minutes before the opening is call auction time, 1. The first four minutes are the time for investors to declare the price freely, and it is possible to withdraw the order at this time; 2。 The last minute is the bidding matching time, and the order cannot be cancelled; Like stocks, it is divided into call auction and continuous bidding. Generally, the futures fair will bid for the pending orders that have not been closed at the last minute within the continuous bidding time.
The principle of call auction futures maximum turnover refers to the maximum turnover that can be achieved at a certain price. As a result of this call auction, all purchase declarations higher than the price generated in call auction were closed; All sales declarations below the price generated in call auction were sold; For the purchase or sale declaration with the same price as that generated in call auction, the transaction shall be made according to the quantity of the purchase declaration and the quantity of the sale declaration, and according to the quantity declared by the minority party. If more than one price meets the principle of maximum transaction, the transaction will be made at the opening price close to the nearest settlement price of the previous day.