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 carried out in China stock market, because it was too speculative. In order to ensure the stability of the securities market, the Shanghai Stock Exchange and Shenzhen Stock Exchange in China now adopt the trading mode of "T+ 1" for stock and fund trading. That is, what you 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. However, Shanghai Futures Exchange implements the trading mode of "T+0" for steel futures trading. At present, China's stock market implements T+ 1 clearing system, and the futures market implements T+0.

Characteristics of "T+0":

1, trading mode, two-way trading, buy up and buy down, buy now and sell now.

2, short-term speculation, stock operation 15 minutes after the liquidation.

3. Speculation is enhanced and speculative opportunities are increased, which is very suitable for the operation mode of short-term speculators.

4, because the main force can buy and sell at will.

5. With the increase of the number of retail transactions, the transaction cost will increase greatly, which is a big advantage for brokers.

6. The increase of retail transaction times and transaction costs will lead to the increase of transaction costs, which will lead to the increase of speculative risks.

7. It is easy for the boat of retail investors to turn around, and it is easy to follow up or flee in time.

8. Without the boosting effect of "T+ 1", the amplitude of both stock indexes and individual stock prices will intensify.

9. If the "T+0" trading method is implemented, it will directly benefit small-cap stocks.