Regarding the trading rules, there are mainly the following points: Participants: The participants in the reverse repurchase transaction of government bonds are mainly financial institutions such as commercial banks, securities companies and insurance companies. Transaction mode: the reverse repurchase transaction of government bonds is conducted by anonymous bidding, that is, buyers and sellers make anonymous quotations in the trading system, and the system automatically matches the transaction. Transaction object: the transaction object of reverse repurchase of government bonds is government bonds, including cash bonds and government bond futures.
Transaction duration: The transaction duration of reverse repurchase of government bonds is generally 1 day, 7 days, 14 days, 2 1 day, 1 month, 3 months, 6 months, 9 months, 1 year, etc. Determination of interest rate: the interest rate of reverse repurchase of government bonds is determined by the relationship between market supply and demand, and buyers and sellers quote in the trading system.
The interest rate of the final transaction is the middle price of the highest buyer's quotation and the lowest seller's quotation among all quotations. Transaction volume: The minimum transaction amount of each institution is 654.38 million yuan, and the maximum transaction amount is 500 million yuan.