Exchange fund: the technical term of the securities industry. When a securities company opens a Shanghai and Shenzhen shareholder account, it can conduct on-the-spot transactions between the listed open-end fund LOF and ETF funds in the business department or website of the securities company (if you have bought stocks or closed-end funds before, you don't need to re-open the existing account, you can use the original account). The floor trading price is real-time, that is, the price you bought at that time is the same as the price of stock trading.

Just like off-site subscription, on-site subscription (subscription) can also get dividends, but there is one difference. The fund dividends purchased on the market can only be cash dividends, and cannot be reinvested. Those purchased off-site can be reinvested. Funds that can be redeemed and purchased on the spot can also be redeemed on the spot. The redemption price is the net value announced by the company on the day after the market closes. Buying (stock method) is different from buying (fund method), and selling is different from redemption.

Pay attention to choose your own trading method and the correct code of the fund, such as: 5 10880 trading is the market price in the market, and 5 1088 1 is a net purchase.

LOF funds and ETF funds can be traded in the market, and can also be purchased and redeemed outside the market.