Fund share refers to the certificate issued by the fund sponsors to investors, indicating that the holder enjoys the right to distribute income, the right to obtain the remaining property after liquidation and other related rights according to his share, and assumes corresponding obligations. We will implement an open centralized quotation and trading system, unlike ordinary commodity sales, where quotations and transactions are reached through private consultation. The principle of price priority and time priority shall be implemented in centralized bidding transactions on the exchange. All the valid quotations bought are arranged from high to low, and the same quotations are arranged in chronological order; All the sold quotations are arranged from low to high, and the same quotations are also arranged in chronological order. The top buy quotation and sell quotation are paired, that is, the highest buy quotation and the lowest sell quotation are paired first; Under the same quotation conditions, according to the principle of time priority, the top quotations are paired and clinched. The price, transaction situation and related information disclosure of listed transactions.
Where fund shares are listed and traded, the stock exchange shall provide investors with transaction information such as transaction price and transaction volume at any time, and fund managers and fund custodians shall also announce the financial and accounting reports and other information of the fund to the public in accordance with regulations to ensure the openness and transparency of fund share transactions. Handling the subscription and redemption of fund shares is one of the important responsibilities of fund managers of open-end funds. At the same time, fund managers, as professional financial institutions, should focus on the investment operation of fund assets in order to give full play to their advantages in expert financial management. In addition, although this law has strict requirements on fund managers' funds, business facilities and personnel, it requires a large number of talents and institutions, a strong sales network and a settlement system to purchase and redeem fund shares. In order to make fund managers focus on the investment operation of fund property, expand the sale of fund shares and facilitate investors to apply for and redeem fund shares.