(1) Last issue: including limit orders, cancellation orders and other orders specified by the exchange (no market orders);
(2) Large trading places: limit orders, market orders, market (or limit) stop-loss (profit) orders, arbitrage orders and other orders stipulated by the Exchange;
(3) Zhengshang Institute: limit orders, market orders, cancellation orders, arbitrage orders and other orders stipulated by the Exchange;
(4) CICC: Market entrustment, limit entrustment and other entrustment stipulated by the Exchange.
(5) Energy Center: including limit orders, cancellation orders and other orders stipulated by the Exchange (no market orders);
What are limit orders and market orders?
Limit order: refers to an order that must be executed at a limited price or better. When placing a price limit order, the customer must indicate the specific price. Its characteristic is that the transaction can be made according to the customer's expected price, but the transaction speed is relatively slow, and sometimes it is even impossible to make a transaction;
Market order: refers to an order that is concluded at the best price (quotation) that can be executed in the market at that time without indicating the specific price. Customers do not need to indicate the specific price when placing an order. This kind of instruction is characterized by high transaction speed, and once it is issued, it cannot be changed or revoked.
What do FAK and Fu mean?
FOK order: that is, the order is cancelled immediately or automatically, that is, the order is issued at a limited price. If all declared lots under this order are not closed, all declared lots under this order will be automatically cancelled by the system.
FAK instruction: an automatic cancellation instruction to immediately close the remaining orders, which means that the order is issued at a limited price. If some declared batches are closed under this instruction, the remaining declared batches under this instruction will be automatically cancelled by the system.
Two instruction attributes can be attached to a limit order: FOK and FAK.
For example, the customer sells the contract of 100 lot hot rolled coil 2209, and the entrusted price is 4790. Use the FOK command to place an order. If the 100 lot cannot be closed immediately, all orders will be cancelled immediately. Use FAK command to place an order. If 100 lots are entrusted, 53 lots will be sold immediately, the remaining 47 unsold lots will be taken back immediately, and the exhibition department will take back.
Will the orders that investors fail to close during the night session continue to be traded during the day session?
The undeclared declaration forms in the opening call auction will automatically participate in the bidding transaction after the opening. The investor's quotation remains valid within one trading day, and the open declaration in the night session is directly transferred to the daily session of the trading day until the quotation is completely closed or cancelled. If investors do not want the unfinished declaration to enter the daily trading of the trading day, they should cancel the unfinished declaration before the end of the night trading.
When placing an order, can I choose the closing list to close the newly opened position today?
Please select the "liquidation" instruction of the previous issue and the historical warehouse of the energy center, and the "liquidation" instruction of the new warehouse on the same day; Dashang Institute, Zhengshang Institute and CICC can only choose the order of "closing positions" for historical positions and daily positions, and follow the principle of "opening first and then leveling".
What is a TAS trading instruction?
The TradingatSettlement price (TAS) instruction allows traders to declare the trading of futures contracts according to the settlement price on the day of futures contracts, or to increase or decrease the settlement price on the day of futures contracts (increasing or decreasing the settlement price on the day of futures contracts is not supported for the time being).
Crude oil futures are applicable, and the applicable contracts are the most recent month contract and the first month contract after the most recent month.
Can crude oil futures TAS orders be attached with other orders?
Limit orders can be attached to TAS orders, and immediate closing of all transactions or automatic cancellation (FOK) attribute or immediate closing of remaining orders and automatic cancellation (FAK) attribute is temporarily not supported.
What is the closing principle of using TAS instruction?
The closing principle of TAS instruction: time first.
Will the open TAS trading order be automatically cancelled?
If you have an unfinished TAS trading order, you will automatically cancel the order immediately after the end of the first quarter of the trading day, that is, 10: 15, and release the frozen deposit and handling fee.
When is the deadline for TAS trading instructions?
The eighth trading day before the last trading day of the applicable contract. Its trading limit, position limit, overbooking treatment, strong leveling system and abnormal trading supervision are all the same as the current provisions of the contract.
For example, the last trading day of SC2206 contract is May 3, 20221,and the corresponding deadline of TAS exchange instruction is May 20, 2022.