How to understand that futures "the opening of night trading contracts is conducted in call auction mode within five minutes before the opening of night trading, and the daily trading is not conducted in call auction mode"? Most investors start their daily transactions in call auction, and many investors will participate in them. So what are the futures call auction time and call auction rule?

1. What is the call auction of futures?

Call auction means that futures traders declare buying and selling at their own acceptable prices within the specified time before the opening of each futures trading day.

Second, the rules of call auction

Within five minutes before the opening of each trading day, the first four minutes are the time for investors to declare the purchase and sale price orders of futures contracts, and the last 1 minute is the time for call auction to match. The price generated by call auction is the opening price, which is immediately displayed in the quotation column.

It should be noted here that:

(1) call auction can only use the price limit entrustment declaration, but not the market price entrustment declaration.

(2) The call auction time of Japanese varieties (varieties without night vegetables) is 8:55-8:59, and the call auction time of night vegetables is 20:55-20:59. Varieties with supper are no longer called auctions.

(3) The declared price during the period of call auction is not displayed, and it can only be declared according to its own pre-judgment. The declared price range is the limit price of the settlement price of the previous trading day.