1. Closed-end funds are not allowed to apply for redemption during the closed period, but they can be traded in the secondary market, which means that closed-end funds cannot apply for redemption during the closed period; But it can be bought and sold in the secondary market like stocks. It was also closed for redemption, but the trading on the exchange was not closed.

2. The securities trading market, also known as the securities market, secondary market and secondary market, refers to the market where issued securities are traded, transferred and circulated. The income from the sale of securities in the secondary market belongs to investors who sell securities, not to companies that issue securities.