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Definition of effective price in futures trading
The effective price is for reference only. In the transaction, the quotation between the price limit and the price limit is valid, but the price above the price limit and the price below the price limit are not valid. You can't hang up if you hang up a bill.

For example, the settlement price of a certain variety the day before yesterday is 1 1,000 yuan, and the price limit is plus or minus 3%, then you can place a selling order of 1 0,025 or a paying order of 985, because both prices are valid. However, if the sell order of 103 1 is hung, it cannot be hung because 103 1 has exceeded the daily limit.