"T-day redemption" means T+0 (transaction plus 0 days), which is the abbreviation of securities trading settlement system. In academic research and practical business, T+0 can be subdivided into T+0 trading system and T+0 settlement system.

Generally speaking, the funds obtained by selling stocks on the same day can buy stocks on the same day, and the stocks bought on the same day can be sold on the same day (T+0 transaction), while the securities and funds are cleared and delivered on the day when the transaction actually occurs (T+0 settlement). The above two cannot be confused. T+0 settlement is a necessary and sufficient condition for T+0 transaction.

Extended data

Market impact—

Trading system has an important influence on the activity of the market. Under the trading system of "T+0", a fund can trade repeatedly, which can effectively improve the liquidity, activity and trading volume of the market without increasing the stock of funds in the market, and can produce obvious fund amplification effect.

In the case of weak market conditions, the "T+0" trading system helps to reduce investors' investment risks on the one hand, and provides investors with more short-term trading opportunities on the other hand, which helps investors improve their profitability.