On-exchange funds trade in real time like stocks, while off-exchange funds do not trade in real time like stocks. On-site funds refer to funds traded on the stock exchange. The fund trades at the real-time market price and follows the principle of price priority and time priority.

OTC funds refer to funds that are not traded on the stock exchange. Every transaction of the Fund is conducted according to the closing net value, that is, there is only one transaction price on each trading day, and the share is confirmed on the second trading day of the day.