Current location - Trademark Inquiry Complete Network - Tian Tian Fund - What is the bidding principle of the main board trading rules?
What is the bidding principle of the main board trading rules?
Bidding principle: price first, time first. The higher-priced bill takes precedence over the lower-priced bill, and the lower-priced bill takes precedence over the higher-priced bill. Entrusting at the same price will take precedence over time.

Bidding method: call auction will be held at 9: 00 a.m.15-9: 25 a.m. (all valid commissions will be handled at one time);

From 9: 30 am to 1 1: 30 am and 1: 00 pm to 3: 00 pm, continuous bidding (valid entrustment shall be handled one by one).

trading hour

Monday to Friday (except statutory holidays)

9: 30 am-11:30 am

65438+ 0: 00 pm to 3: 00 pm

Transaction unit:

1, the trading unit of the stock is "shares", 100 shares = 1 lot, and the entrusted purchase quantity must be 100 shares or an integral multiple thereof;

2. The trading unit of the Fund is "shares", 65,438+000 shares = 65,438+0 lots, and the number of entrusted subscriptions must be 65,438+000 shares or an integral multiple thereof;

3. The trading unit of treasury bonds and convertible bonds is "hand", the denomination is 1 1,000 yuan = 1 hand, and the entrusted purchase quantity must be 1 hand or its integer multiple;

4. When the entrusted quantity can't be fully sold or distributed, there may be zero shares (less than 1 lot), and the zero shares can only be entrusted to sell, but not to buy.

Quotation unit

Shares are quoted as "shares"; The Fund takes "copies" as the quotation unit; Bonds are quoted in "hands". Example: The market shows "Shenzhen Development A" 30 yuan, that is, the current price of "Shenzhen Development A" shares is 30 yuan per share. The minimum change unit of the transaction entrustment price: RMB 0.065438 +0 yuan A shares, funds and bonds; Deep B is HK$ 0.065438 +0 yuan; Shanghai B is USD 0.0065438 +0 yuan RMB; Shanghai bond repurchase is 0.005 yuan.

stock price restraint

In a trading day, except for the securities listed on the first day, the trading price of each securities shall not exceed 10% relative to the closing price of the previous trading day, and the entrustment exceeding the price limit shall be invalid.

"ST" stock

A stock with the word "ST" in front of its name means that the listed company has suffered losses continuously in the last two years, or for one year, but its net assets are lower than the par value, and there are major illegal acts in the company's operation. The exchange will give special treatment to the company's stock trading. The stock trading day is limited to 5%.

Entrusted withdrawal

Before the entrustment is completed, investors can cancel the entrustment.

"T+ 1" settlement

"t" means the trading day, and "T+ 1" means the second day of the trading day. "T+ 1" trading system means that the securities bought by investors on the same day cannot be sold on the same day, but can only be sold after automatic delivery and transfer the next day. ("T+0" bonds are allowed to trade in reverse on the same day. In terms of the use of funds, the funds sold on the same day can be used to buy stocks when they return to the investor's account, but they cannot be withdrawn on the same day, and can only be withdrawn after delivery. (A shares are T+ 1, style photography works, and B shares are T+3. )