No, on-exchange refers to the stock exchange. On-site funds include ETF funds, index funds and closed-end funds, and the rest are not traded on the stock exchange. OTC funds include bond funds, equity funds and linked funds.

OTC funds are not traded on the stock exchange, but are traded at the closing net value (only one trading price per day), with no price limit, minimum trading unit and minimum trading amount (for different funds). On-site funds traded on the stock exchange (only through the brokerage platform) are traded according to the real-time market price, following the principle of price priority and time priority, and each transaction unit is 100.