What currently supports T+0 trading?
According to the current trading rules, the mainstream T+0 trading varieties on the market at present include:
1 bond (including convertible bonds)/bond ETF (including convertible bonds ETF)
Bonds (including convertible bonds) realize T+0 according to trading rules. So the related ETF is also t+0; Bond ETF (including convertible bond ETF) refers to a trading securities investment fund with bond index as the tracking target.
2 currency ETF
Currency ETF, also known as transactional money market fund, is a kind of money market fund that can be bought and sold in the secondary market of the exchange and redeemed on the exchange floor. The trading mechanism of currency ETF is characterized by
1. Earnings on the day of buying: money ETFs can be bought and sold directly in the secondary market like stocks, and they can enjoy the dividend income of the money fund on the day of buying, and the sold funds can be used immediately (buying stocks or other varieties traded on the market).
2. Unlimited T+0 for one day: the currency ETF bought by investors on the same day can be sold and redeemed on the same day. After selling stocks on the same day, funds can immediately buy currency ETFs.
3 gold ETF
Gold ETF is a fund product based on gold, which tracks the fluctuation of spot price of gold and can be traded in the securities market.
The domestic A-share market gold ETF invests in the gold spot contract of Shanghai Gold Exchange, closely tracking the price change of AU9999, and the primary gold ETF (i.e. 100 copies) corresponds to 1 gram of real gold. The gold ETF bought and held by investors is equivalent to the physical gold holding certificate deposited in Shanghai Gold Exchange.
4 Commodity Futures Exchange Trading Fund
Commodity futures ETF refers to an ETF with holding commodity futures contracts as its main strategy and tracking commodity futures price index as its goal.
5 Cross-border ETF/ Cross-border LOF
Cross-border ETF refers to an open-end fund that invests all or part of its assets in portfolio securities corresponding to the securities index outside China.
Simply put, cross-border ETF is an ETF product that "tracks overseas indexes and is listed and traded in China". As for the difference between cross-border ETF and cross-border LOF, ETF is a transactional open-end index fund and LOF is a listed open-end fund. Whether they are T+0 or not depends not on ETF or LOF, but on their underlying assets.
6 Hong Kong Stock Connect
Hong Kong Stock Connect, including Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, refers to the fact that investors entrust mainland securities companies to report to the stock exchange for trading in stocks listed on the stock exchange within the scope specified by Shanghai Stock Connect/Shenzhen Stock Exchange through the securities trading service company established in Hong Kong by Shanghai Stock Exchange/Shenzhen Stock Exchange. Obviously, Hong Kong stocks are T+0, so Hong Kong Stock Connect is also T+0.
Therefore, it should be noted that cross-border ETFs and cross-border LOFs supporting T+0 are limited to open-end funds that track the securities or investment targets of index constituent stocks and carry out circular trading on the same day (that is, T+0) according to exchange rules.
7 options (including ETF options, stock index options and commodity options)
Options are advanced investment tools, and all options are T+0. At present, stock options are in the form of ETF options, including Shanghai Stock Exchange options and Shenzhen Stock Exchange options.
Stock index option refers to CICC's Shanghai and Shenzhen 300 stock index options. Finally, there are many kinds of commodity options, including cotton, sugar, corn, copper, aluminum and many other contract varieties in Dalian Commodity Exchange, Zhengzhou Commodity Exchange and Shanghai Futures Exchange.