2. Trading rules: The bond trading in Shanghai Stock Exchange mainly adopts ordinary bidding and batch bidding, and the declared quantity is at least one hand and its integral multiple.
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I. Debt _ Transaction Time
9: 0015-9: 25 every trading day is the opening time in call auction; 9:30- 1 1:30, 13:00- 14:57 is the continuous bidding time; 14:57- 15:00 is the closing time in call auction.
Different bonds can be sold at different times. At present, there are many kinds of bonds. Bonds adopt rating system, and investors adopt qualified investor system. Eligible bonds (such as treasury bonds and 3A bonds) can be traded at any time, but bonds below 3A can only be bought and sold by qualified investors during trading hours. For bonds that are not listed and circulated, they cannot be bought or sold in the market at any time.
The above is the trading time of debt.
Two. Relevant rules of bond trading:
1, the number of units in Shanghai Stock Exchange and Shenzhen Stock Exchange, 1 the number of hands is10;
2. The bulk prices of Shanghai Stock Exchange shall be kept to 2 decimal places, the bulk prices of Shanghai Stock Exchange and Shenzhen Stock Exchange shall be kept to 3 decimal places, and the interbank transactions shall be kept to 4 decimal places;
3. The agreed number of the block trade is 6 digits, the agreed number of the assembly platform is 3 digits, and the first part of the agreed number cannot be 0;
4. Exchange corporate bonds are generally settled by guaranteed delivery T+ 1 (that is, the funds arrive at the account around 10 the next day); Private debt, ABS, etc. All are T+0 clearing (i.e. unsecured settlement, RTGS real-time full settlement; One by one; But there are also special circumstances.
5. Spot bond transactions shall be quoted at net price and settled at full price. Special circumstances are that the private debt of Shenzhen Stock Exchange (such as 1 18) is quoted at full price;
6. Price fluctuation of spot bonds: the price of bidding system and fixed-income platform shall not exceed 65,438+00%, and the price of bulk transactions shall not exceed 30% of the previous closing price.
7. Increase or decrease in repurchase: Shanghai Stock Exchange 65,438+00%, Shenzhen Stock Exchange 65,438+000%;
8. Non-public private debt of Shanghai Stock Exchange can only be traded on a fixed platform, not in bulk;
9. The trading hours of the fixed income platform of Shanghai Stock Exchange are 9- 15: 00, the bulk trading of Shanghai Stock Exchange is 15- 15: 30, and the bulk trading of Shenzhen Stock Exchange is 9-15: 30;
10. If the collection transaction fails (9: 30- 15: 00), it can be changed to batch transaction through negotiation (15: 00- 15: 30), but it must be before 15: 00.