providing investment opportunities for capital suppliers is the basic function of the securities issuance market.

1. The securities market has the following three remarkable characteristics:

1. The securities market is a place for direct exchange of values. Securities are direct representatives of value, and they are essentially a direct manifestation of value. Although the objects of securities trading are all kinds of securities, because they are the direct expression of value, the securities market is essentially a direct exchange place of value.

2. The securities market is a place for direct exchange of property rights. The trading objects in the securities market are stocks, bonds, investment fund shares and other securities as economic rights and interests certificates. They themselves represent a certain amount of property rights, so they represent the ownership or creditor's rights of a certain amount of property and related income rights. The securities market is actually a direct exchange place for property rights.

3. The securities market is a place for direct exchange of risks. Securities are not only the representative of certain income rights, but also the representative of certain risks. The exchange of securities not only transfers a certain income right, but also transfers the unique risks of the securities. Therefore, from the perspective of risk, the securities market is also a place for direct exchange of risks.

1. What are the ways of securities trading

1. Centralized bidding.

Bidding transaction is a transaction between multiple buyers and sellers, and the seller with the lowest bid reaches a deal with the buyer with the highest purchase price. Open centralized bidding means that all the buyers and sellers concerned with the purchase and sale of the securities are concentrated in the stock exchange for public declaration and bidding transactions. Whenever the bids of the buyers and sellers coincide, it constitutes a transaction, and the transaction is carried out continuously according to the buying and selling groups, and each buying and selling group forms a different price. Operating rules for securities trading, such as operating procedures, closing methods, trading units, trading price fluctuation units, and clearing and delivery dates of transactions, shall be formulated by the stock exchange and submitted to the China Securities Regulatory Commission for approval.

2. Price is preferred.

means that when there are two or more buyers (sellers) buying and selling the same kind of securities at the same time, the buyer with the highest bid should be in the priority position; The lowest bidder among the sellers should be in the priority position.

3. Time is the priority.

means that when the price is the same, the first bidder has priority to close the transaction.

4. The securities bought and sold by the parties to a securities transaction may be in paper form or other forms stipulated by the China Securities Regulatory Commission.

the conditions for securities trading refer to the fact that securities publicly traded in the securities market must meet the relevant conditions stipulated by law before they can be bought and sold. According to the provisions of the securities law, the conditions of securities trading mainly include the following contents:

1. The securities bought and sold by the parties to securities trading must be issued and delivered according to law. Securities that are not issued according to legal procedures may not be bought or sold.

2. stocks, corporate bonds and other securities issued in accordance with the law may not be bought or sold within a limited period if the transfer period is limited by the law. For example, the company law of our country limits the transfer of the shares of a joint stock limited company held by the promoters of the joint stock limited company to three years.

3. Stocks, corporate bonds and other securities that have been approved for listing and trading according to law shall be listed and traded on a legally established stock exchange or transferred at other stock exchange sites approved by the State Council.