Call auction refers to the bidding method of one-time centralized matching of trading declarations received within a period of time.

Continuous bidding means that the transaction price is generated by the computer trading system according to the following two situations: the highest buying declaration is the same as the lowest selling declaration, then the price is the transaction price; When the buying declaration is higher than the selling declaration, the price declared first is the transaction price.

Extended data

The principle of bidding transaction

First, the principle of price priority when trading.

Buying statement: the higher price is preferred; Selling statement: the lower the price, the better. The application price is higher than the lowest selling price immediately displayed, and the transaction is made at the lowest application price; If the bid is lower than the highest bid, the transaction is made at the highest bid. If these two commissions fail to complete the transaction, the rest will be left on the list, waiting for the next transaction.

Second, the principle of transaction time priority

If the buying and selling direction is the same and the price is the same, the applicant who declares first has priority over the applicant who declares later. Determine the order according to the time when the trading host accepts the declaration.

For example, the highest bid is 9.96 and the lowest bid is 9.98. At this time, two new buyers are willing to pay 10 yuan and 9.90 yuan. According to the principle of price priority, they will be given priority to clinch a deal. The clinch a deal price is 9.90 plus 10 yuan divided by 2, which is the average price of 9.95.

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