The "T" in "T+1" refers to the current trading day, and "T+1" refers to the second day of the current trading day.

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The current clearing and settlement system for Shenzhen and Shanghai A-shares adopts the T+1 method, which means that the stocks bought by investors on the same day cannot be sold on the same day. It can only be sold after the delivery and transfer of ownership on the next day, that is, the stock can only be sold on the next day.

In terms of the use of funds, after selling stocks on the same day, the funds will return to the investor's account and can be used to buy stocks on the same day. However, if the stocks are sold on the same day, the funds will return to the investor's account. If the investor It is impossible to withdraw cash immediately. You must wait until the next day to withdraw cash. In fact, the cash will arrive on T+1.

T+0 is a securities (or futures) trading system. Any trading system in which securities (or futures) and price clearing and delivery procedures are completed on the day when securities (or futures) are traded is called T+0 trading. In layman's terms, securities (or futures) bought on the same day can be sold on the same day. T+0 trading has been implemented in China's securities market, because it is too speculative. In order to ensure the stability of the securities market, my country's Shanghai Stock Exchange and Shenzhen Stock Exchange now implement "T+1" for stock and fund transactions. ” transaction method. That is, if you buy something on the same day, you cannot sell it until the next trading day. At the same time, "T+0" is still implemented for funds, that is, the funds withdrawn on the same day can be used immediately. The Shanghai Futures Exchange implements a "T+0" trading method for steel futures trading.

At present, my country's stock market implements a T+1 clearing system, while the futures market implements a T+0.