It is also called "cash delivery" in commodity futures industry.
There is a similar operation in the securities market. This method of allowing cash payment instead of physical payment is called cash option.
Extended data:
1, stock trading mode
(1) bargaining and bidding
From the different prices determined by buyers and sellers, it can be divided into bargaining and bidding.
Bargaining is a one-on-one interview between buyers and sellers, and a business transaction is reached through bargaining. It is a common way in over-the-counter trading.
Generally, it is used when the stock cannot be listed, the trading volume is small, it needs to be kept secret or in order to save commission.
Bidding refers to the fact that both buyers and sellers are groups composed of several people, and both sides openly conduct two-way competitive transactions, that is, there is not only competition between buyers and sellers, but also fierce competition within buyers and sellers, and finally the highest bidder and the lowest bidder conduct transactions.
In this kind of competition, the buyer can choose the seller freely, and the seller can also choose the buyer freely, which makes the transaction fairer and the price more reasonable. Bidding is the main way for stock exchange to buy and sell stocks.
(2) Direct transactions and indirect transactions
According to the different ways of reaching a transaction, it can be divided into direct transaction and indirect transaction.
Direct trading is direct negotiation between buyers and sellers, and stocks are also cleared and delivered by buyers and sellers themselves. There is no intermediary involved in the whole trading process. Most over-the-counter transactions are direct transactions.
Indirect trading is a trading method in which buyers and sellers do not meet directly, but entrust an intermediary to buy and sell stocks. The broker system of the stock exchange is a typical indirect transaction.
(3) Spot trading and futures trading
According to the different delivery periods, it can be divided into spot trading and futures trading. Spot trading refers to the immediate delivery and liquidation procedures after the completion of stock trading, and the settlement of money and goods on the spot.
Futures trading is a kind of trading method to settle the stock after a certain period of time according to the price and quantity stipulated in the contract.
2, the composition of the circulation market
The main elements of the circulation market are: the stock holder, here is the seller; Investors, here is the buyer; Credit intermediary institutions that provide convenient conditions for the circulation and transfer of stock transactions, such as securities companies or stock exchanges (commonly known as stock exchanges).
3. Stock market terminology
Opening price: refers to the price of the first daily transaction? .
Closing price: refers to the price of the last stock in daily trading, that is, the closing price.
Number of transactions: refers to the number of shares traded on that day.
Highest price: refers to the highest transaction price among various prices of the stock on that day.
Lowest price: refers to the lowest transaction price among different prices of the day.
Increase: refers to the opening price is higher than the closing price of the previous day.
Low opening: the opening price is lower than the closing price of the previous day.
Disk stall: refers to investors not actively buying and selling, but taking a wait-and-see attitude, so that the change of stock price on that day is very small. This situation is called disk stop.
Reorganization: refers to the stock price after a period of sharp rise or fall, began to fluctuate slightly, and entered a stage of steady change. This phenomenon is called reorganization, which is the preparation stage of the next big change.
Baidu Encyclopedia-Cash Option
Baidu encyclopedia-stock
Baidu encyclopedia-stock market