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Matters needing attention in market order Market order
Market order brings convenience to transactions, but it is also a "double-edged sword". If investors are not familiar with the provisions of the market order, it is easy to bring operational risks. Taking the use of market price instructions in stock index futures trading as an example, this paper discusses the matters needing attention:

First, to do stock index futures, we must use market price instructions carefully to prevent the transaction price from being outrageous. For example, the seller of a stock index futures contract has 6 lots for the first quotation of 3280, 5 lots for the second quotation of 3290, 4 lots for the third quotation of 3300, 3 lots for the fourth quotation of 33 10 and 2 lots for the fifth quotation of 3350. If there are 20 lots to buy the market order, the transaction will be made in turn according to the price and quantity of the seller's pending order, and the transaction will be made at 3350. This is a big risk of taking advantage of market order. When the price fluctuates greatly, the transaction price of market orders may be quite different from the expected price of investors. Therefore, investors must be cautious when doing stock index futures.

Second, use the market order to close the position. Please pay attention to check whether there is an open position, because when the daily limit board appears, closing the position with the market order may not be successful. For example, if 3370 is the daily limit price of a contract, and the number of pending orders at a certain time point is 5 lots, then the market order of one 10 lot is closed with it, then 5 lots are closed and the other 5 lots are automatically cancelled.

Thirdly, investors should also pay attention to the fact that the maximum order quantity of market orders is 50 lots at a time, and the maximum order quantity of limit orders is 100 lots at a time.