What is t+0 quick redemption?
T+0 is a widely used securities (or futures) trading system in the world. 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.
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 suitable for the operation mode of short-term speculators.
4. The increase of investors' transaction times and transaction costs will lead to the increase of transaction costs, thus increasing the speculative risk.
What is the quick redemption of t+0 by fund companies in advance?
Anyone familiar with the fund industry knows that if an open-end fund subscribes on the same day (T day), it will generally confirm and calculate the expected annualized expected return on the second working day (T+ 1) and receive the share on the third working day (T+2). The trading mode of transactional open-end funds in the market is T+ 1, and so is closed-end funds.
As for the monetary fund, due to the implementation of the T+ 1 clearing system, the fund shares redeemed on the same day will not arrive until at least the next day or even the third working day. However, in 20 12, Huitianfu took the lead in "eating crabs" and opened the T+0 redemption business of online direct selling of the Monetary Fund, which broke this situation.
In 20 13, the internet "baby" category of docking money funds appeared, which quickly became a market explosion in the east wind of "money shortage" in that year, and the overall scale soared.
The reason why "babies" are widely loved by investors is that they were higher than the expected annualized rate of return of ordinary fixed-income products at that time, and another crucial reason is good liquidity, which is the T+0 quick redemption service discussed today.