1. Convertible bonds trading rules and expense convertible bonds trading rules: T+0 trading is implemented, which can be sold on the day of purchase, and there is no upper limit on the price of convertible bonds on the first trading day (the highest increase is 57.3%, and the highest decrease is 43.3%); After the first trading day, the price is limited to 20%, and there is a temporary suspension mechanism. Suspension for 30 minutes when the price of convertible bonds reaches 20%, and until 14:57 when the price of convertible bonds reaches 30%. If the trading time of convertible bonds exceeds 14:57, 14:57 will automatically resume trading. The trading unit is 100 shares and its integral multiple, and trading is conducted according to the real-time market price, following the principle of price priority and time priority.
Transaction cost of convertible bonds: convertible bonds only charge transaction commission, and there is no stamp duty. Unlike transfer fees, the commission is different from securities companies, and the charging standard is not more than three thousandths of the transaction amount.
2. This "most comprehensive convertible bond trading rule" should not be missed. With the increasingly hot convertible bond market, more and more new partners join convertible bonds. I believe many new friends are confused about the frequent suspension of trading as soon as new debts are opened. Today, I'm going to ask Mr. Egg to show you the rules of listing and trading of convertible bonds.
1. Shenzhen convertible bonds and Shanghai convertible bonds
Convertible bonds can be divided into Shenzhen stock market and Shanghai stock market, so how to judge whether a convertible bond is Shenzhen stock market or Shanghai stock market?
0 1 code
Convertible bonds in Shanghai stock market begin with 1 1, and convertible bonds in Shenzhen stock market begin with 12.
02 trading quotation
The transaction price of Shanghai convertible bonds is accurate to two decimal places, and the transaction price of Shenzhen convertible bonds is accurate to three decimal places.
03 for investors
Shenzhen is open to investors with GEM authority; Shanghai stock market is open to all investors in the market.
According to the positive stock judgment
The Shanghai stock market starts with "6" and the Shenzhen stock market starts with "0" or "3".
Second, the trading characteristics of convertible bonds
T+0 transaction
Unlimited fluctuation range
There is no stamp duty on the transaction.
The trading commission is lower than that of stocks.
The transaction unit of convertible bonds in Shanghai is hand (1 hand = 1 10,000 yuan), and that in Shenzhen is 10. (6) The lowest transaction price of convertible bonds in Shanghai is 0.0 1 yuan, and that in Shenzhen is 0.00 1 yuan.
Three. Opening price range of convertible bonds
The opening price range of the first day of listing is 0 1
At present, the opening range of convertible bonds on the first day of listing is:
Shanghai stock market: 70- 150 yuan;
Shenzhen: 70- 130 yuan.
Shanghai's out-of-scope entrustment is invalid, and Shenzhen retains the entrustment, but does not enter the bidding system. That is to say, the Shenzhen market 150 yuan buy (sell) pending order is valid, but it does not match in call auction.
02 opening price range of non-listed first day
SSE: Not higher than 150% and not lower than 70%.
Shenzhen stock market: 10% before and after the closing price.
Shanghai's out-of-scope entrustment is invalid, and Shenzhen retains the entrustment, but does not enter the bidding system.
03 continuous bidding
The quotation must be within 10% of the current transaction price, and cannot be hung too high or too low.
Shenzhen Stock Exchange: Convertible bonds beyond the quotation range will be temporarily stored in the system. When they become valid quotations, they will participate in bidding transactions.
Shanghai Stock Exchange: Convertible bonds exceeding the quotation range are directly scrapped.
IV. Rules for Suspension of Listing of Convertible Bonds
0 1 Shanghai convertible bonds
1. The transaction price is 20% higher or lower than the previous closing price. Trading will be suspended for half an hour (if the theoretical suspension time exceeds 14:57, trading will be resumed at 14:57).
2. The transaction price is 30% higher or lower than the previous closing price, and the transaction is suspended to 14:57.
3. No declaration shall be made during the suspension period (including buying and selling).
4. In any case, 14:57- 15:00 must be a continuous bidding time.
Note: One-day rise and fall of convertible bonds can trigger the fuse to suspend trading twice. During the suspension period, it cannot be entrusted, but the unfinished business declaration can be revoked.
02 Shenzhen convertible bonds
1. The transaction price is 20% higher or lower than the previous closing price. Trading will be suspended for half an hour (if the theoretical suspension time exceeds 14:57, trading will be resumed at 14:57).
2. The transaction price is 30% higher or lower than the previous closing price, and the transaction is suspended to 14:57.
3. No declaration shall be made during the suspension period (including buying and selling).
4. In any case, 14:57- 15:00 must be the closing time in call auction.
Note: One-day rise and fall of convertible bonds can trigger fuse suspension twice, and the period can be entrusted or revoked.
Through the following table, you can also understand the trading rules of convertible bonds more clearly.
Shanghai stock market
Shen Shi
Opening price on the first day of listing
70- 150 yuan
70- 130 yuan
Opening price on the first day of non-listing
70% of the previous closing price-150%
00% of the closing price before 65438+
On-day consignment price
Not higher than 1 10% of the lowest selling price immediately displayed and not lower than 90% of the highest buying price immediately displayed; At the same time, it is not higher than 130% of the average value of the highest declared price and not lower than 70% of the average value.
Up and down the latest transaction price 10%
No public auction.
-
Up and down the latest transaction price 10%
Suspend trading temporarily
Up and down 20% to reach the closing price, temporary stop loss for 30 minutes;
After reaching 30% of the previous closing price, it will resume trading at 14: 57, 14: 57- 15: 00.
Up and down 20% to reach the closing price, temporary stop loss for 30 minutes; If the temporary suspension time exceeds 14:57, the resumption time is 14:57.
When it reaches 30% of the previous closing price, stop trading until 14:57. At this point, the accepted declaration will be resumed. Call auction will finish at 14:57- 15:00 in call auction.
* The above opinions are only personal opinions, and it is not recommended to involve the subject matter. Investment is risky, so be cautious when entering the market.