stock: it is the most important variety of securities trading. Among them, A-share stocks are stocks traded in RMB, which is the main variety of investors' stock trading; B-share stocks are stocks traded in foreign currencies. B shares of Shanghai Stock Exchange are traded in US dollars, while B shares of Shenzhen Stock Exchange are traded in Hong Kong dollars.

bonds: including government bonds and corporate bonds. Among them, corporate bonds include ordinary bonds, convertible bonds and separable convertible bonds. Convertible bonds are bonds that can be converted into stocks at an agreed price and date. Detachable convertible bonds are a combination of a common bond and a warrant attached. This warrant is also a valuable security, which gives the holder the right to exercise or not to exercise the right to convert bonds into stocks. Bonds and their corresponding warrants can be bought and sold separately.

bond repurchase: it can be divided into two ways: "financing by bonds" and "lending by capital". The so-called "financing by bonds" means that when the bondholder sells a bond, he agrees with the buyer to buy it back at a predetermined price on a certain maturity date, and pays certain interest. If institutional investors choose the financing method of "three-day bond repurchase", the trading system of the exchange will automatically draw the principal and three-day interest from their accounts after three days. This is a complete bond repurchase. Simply put, people who need money borrow money from rich people with bonds as short-term collateral. "Lending securities with capital" is a reverse process. Bond repurchase requires three aspects: the financing party obtains the right to use a large amount of funds in a short time without losing its bonds; The providers of funds, usually financial institutions or some enterprises, obtain interest through short-term borrowing of large amounts of funds; The exchange earns commissions and handling fees from the financier. Bond repurchase is divided according to the trading period. At present, there are four varieties: one day, two days, three days and seven days, and the SSE and Shenzhen Stock Exchange are different. Bond repurchase is quoted at the annual interest rate, which generally fluctuates around 2%. Because the repurchase period is postponed in case of holidays and the interest remains unchanged, the interest rate on Friday is higher than that on Monday, and the interest rate before the long holiday on holidays is higher. Because the financier must have sufficient bonds as collateral, bond repurchase, as a kind of investment with high security and stable income, has become one of the tools for some institutions to manage the liquidity of funds.

national debt repurchase: the essence of national debt repurchase is a kind of fund lending behavior with national debt as collateral: investors lend money, and the other party provides bonds as collateral. After maturity, investors recover the principal and interest, and borrowers recover the mortgage bonds. If the mortgage bond is frozen by pledge and neither party can use it, it is pledged repurchase; If mortgage bonds are directly sold to borrowers, and they are left at their disposal during the repurchase period, it is a buyout repurchase.

closed-end fund: it is a kind of securities investment fund corresponding to open-end fund. The share scale of closed-end funds is fixed in the duration, and investors can't redeem them like open-end funds, but they can buy and sell them on the exchange. Open-end funds are purchased and redeemed by the net value of the fund, but the buying and selling prices of closed-end funds are formed by the transactions of buyers and sellers, just like the stock price, so the net value of closed-end funds is often inconsistent with the price of their exchanges, forming a discount or premium. At present, most closed-end funds are at a discount.

ETF fund: (transactional open index fund) is a special open fund. First of all, ETFs can be traded in exchanges like stocks and closed-end funds, and the trading system is exactly the same; Secondly, ETFs are all exponential at present, that is, tracking index. For example, the SSE 5ETF closely tracks the SSE 5 index, that is, the fluctuation range of the transaction price of the SSE 5ETF is basically the same as that of the SSE 5 index, and the tracking error is very small. This feature is very useful for investors who are new to the stock market. They can "buy ETF when they don't know what stocks to buy" to "buy and sell the market" and obtain the average market increase.

LOF fund: LOF fund of Shenzhen stock exchange, namely "listed open-end fund", can also be listed and traded like stocks. Different from ETF, LOF fund does not necessarily follow the index, and its investment strategy is the same as that of ordinary open-end funds.

warrant: it is a derivative financial product and a valuable security, which is divided into call warrant and put warrant. A call warrant gives the holder the right to buy a certain stock at an agreed price on an agreed date, and a put warrant gives the holder the right to sell a certain stock at an agreed price on an agreed date.