1. Contractual open-end funds are LOF funds. The trading methods are as follows: first, the subscription and redemption transactions in the fund market; The second is trading in the securities market, like stocks.

2. Securities are the general name of all kinds of economic rights and interests certificates. Therefore, the securities market in a broad sense refers to all places where securities are issued and traded. In a narrow sense, the most active securities market refers to capital security market, currency securities market and commodity securities market. It is a place where stocks, bonds, commodity futures, stock futures, options, interest rate futures and other securities products are issued and traded.

3.LOF fund is called "open-end fund" in English and "listed open-end fund" in Chinese. In other words, after the issuance of listed open-end funds, investors can purchase and redeem fund shares at designated outlets, or buy and sell funds on exchanges. However, if investors want to sell the fund shares purchased at designated outlets, they must go through certain transfer custody procedures; Similarly, if you want to redeem the fund shares you bought online on the exchange and redeem them at designated outlets, you must also go through certain transfer custody procedures.