On-site funds refer to funds traded on the stock exchange. The fund trades according to the actual market price and follows the principle of price priority and time priority. Trading hours are: 9: 30am-165438+0: 30pm,13: 00pm-15: 00pm from Monday to Friday, and trading is not allowed on legal holidays.
Extended data:
I. Trading Rules of OTC Funds
1, trading places
On-site funds need to be traded through stock accounts, so before buying on-site funds, stock accounts should be opened through the trading software of securities companies.
2. Trading time
As the funds on the floor need to be purchased through the stock account, the trading time is the same as the stock market, which is 9:30- 1 1:30, 13:00- 15:00, excluding weekends and legal holidays.
3. Transaction price
The transaction price of OTC funds is calculated by the net value of the fund unit on the trading day, and there is only one transaction price every day. The trading price of on-site funds is similar to that of stocks, and it is traded at a timely matching price, so the trading price fluctuates in real time.
4. Fixed investment of the fund
On-site funds mainly include LOF funds, ETF funds and closed-end funds. Although on-site funds can also make fixed investment, they generally do not support automatic fixed investment and require investors to take the initiative to operate. In addition, on-site funds generally do not support conversion.
5. Transaction costs
The transaction rate of OTC funds is lower than that of OTC funds, and the general rate is around 15‰. Some brokers also offer discounts.
6. Dividend payment method
On-site fund dividends are limited to cash dividends, excluding dividend reinvestment.
Second, the risk of on-site fund transactions
1, liquidity risk
On-site fund trading is a matchmaking transaction between investors. If you want to sell the fund share, you must have other investors to buy it, so there is liquidity risk in the on-site fund with small turnover.
2. Premium risk
There are differences between the on-site and off-site prices of on-site funds, so investors should carefully consider the fund products with on-site prices higher than off-site prices.
Differences between OTC funds and OTC funds;
Difference 1: trading places.
On-site funds generally refer to funds that need to open an account when trading in a trading place, while off-site funds can be purchased directly without opening an account. For example, you can buy third-party fund sales platforms such as banks, brokers, Alipay, WeChat and Tian Tian Fund Network.
Therefore, the trading threshold of OTC funds is low, and a stock account must be opened in the market, which is slightly higher.
Difference 2: transaction rate and price
On-market funds can be purchased and redeemed (this is the same as off-market funds), or they can be bought and sold directly (like stocks). In terms of transaction prices, they are published prices that change in real time. However, different subscription amounts of OTC funds are subject to different rates, and different channels will also have different rate discounts, which are fixed in terms of transaction prices.
Generally speaking, the handling fee for on-site direct transactions will be ten times cheaper than that for off-site.
Difference 3: threshold
The threshold of on-site funds is generally higher than that of off-site funds, which needs to be started from one hand, usually starting from 100 yuan. The threshold for off-exchange funds is relatively low. For example, Alipay Fund can be purchased as long as 10 yuan, and Tian Tian Fund can be purchased at 1 yuan.
Whether to buy an OTC fund or an OTC fund depends on the needs of investors. Every investor has different needs and different ways to adapt to them. Some people think that on-site funds are good because of low handling fees, while others think that off-site funds can be discounted. There is no absolute answer.