According to the principle of "price first", qualified counterparties can increase or decrease the price independently within a specified time, make a transaction with the highest purchase price or the lowest selling price, sign an electronic purchase and sale contract through the trading market, and make physical delivery according to the contract.
Block trading, also known as block trading, refers to the securities trading in which the single transaction declaration reaches the prescribed minimum, the buyer and the seller reach an agreement through agreement, and the transaction is confirmed by the exchange. Specifically, each exchange has a clear definition of block trade in its trading system or in its commodity trading system, and they are different.
Extended data:
Block trading process:
First, the two parties to the transaction reach a preliminary intention off-site (transaction information can also be released in the system), and record information such as the name of the securities, transaction price, transaction quantity, seat number of the other party, agreement number (6 digits), etc.
Two, the two sides of the transaction in the trading time to their respective securities business department, fill in the block trading instructions, by the business department of the block trading manager input commodity trading system, and in accordance with the contents of the instruction.
Three. After verifying that the bulk transaction meets the relevant conditions, the trading system confirms the transaction, transfers the securities and funds into the counterparty account, and announces the trading information on the next trading day.
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