T+ 1 trading is implemented for the funds on the floor (except for cross-border ETFs, bond ETFs, money fund ETFs and gold ETFs, T+0 trading is implemented). If they buy on the same day, they can sell on the second trading day. Transactions shall be conducted according to the real-time market price, and the principle of price priority and time priority shall be followed.
On-site funds refer to funds traded on the stock exchange. Like stock trading, on-site funds include index funds, ETF funds and closed-end funds.
What's the difference between OTC funds and OTC funds?
1. OTC funds and OTC funds have different trading places. OTC funds refer to fund transactions such as subscription, purchase, redemption, fixed investment and conversion. , not listed on the stock exchange, you can open an account through banks, securities companies, third-party financial platforms or fund companies. On-site fund trading needs to open an account in the stock exchange and trade through the trading software of the securities company.
2. The transaction rate is different. According to the different investment objects, the subscription rate of OTC funds is generally between 0- 1.5%, but at present, the subscription rate of various platform funds is generally discounted to varying degrees, depending on the specific conditions of each platform. Similarly, according to different investors, different types of funds also have different redemption rates, and the general redemption rate is about 0.5% of the redemption amount. In order to encourage investors to hold funds for a long time, the redemption fee usually decreases with the increase of holding time, and the redemption fee is generally waived for those who hold funds for more than 2 years. It is worth noting that since March 3, 2065438, the new short-term redemption fee for funds has been officially implemented: except for money funds and ETFs, investors who hold open-end funds for less than 7 days are charged a redemption fee of not less than 1.5%.
3. The transaction objects are different. The funds traded on the floor are generally transactional open-end funds (ETFs), listed open-end funds (LOF) and closed-end funds. OTC funds include most open-end funds (including open-end fund shares corresponding to LOF and ETF).
4. The transaction price is different. The secondary market trading of on-site funds is similar to stock trading. According to the relationship between supply and demand, real-time prices are used for matching transactions, and the prices are different at different trading times on trading days. The price of OTC funds is fixed, and the redemption is based on the net value of the fund on that day.