Funds are divided into on-site funds and off-site funds. The floor fund refers to the fund listed on the exchange, and the trading rules of the floor fund are the same as those of stocks. If the on-site fund is purchased, the fund can be sold on T+ 1 day after the purchase on the same day, and the fund can be transferred out through the bank card on T+2 day, and the fund will be returned to the bank card account.
OTC funds refer to funds that can be purchased and redeemed through banks, securities companies, fund companies, Alipay, WeChat and other channels. The purchase or redemption of OTC funds requires share confirmation, and can only be sold after share confirmation. According to the regulations, the fund company needs to reply within three working days when receiving the investor's request for subscription or redemption.
Therefore, if the OTC funds are confirmed on the second day after purchase, they can be sold on T+ 1 day after purchase, but it may take 2-3 working days for the funds to arrive. If the share is confirmed on the third working day, the fund can only be sold after T+3 days.
The transaction cost of OTC funds is not affected by the holding time, while the redemption fee of OTC funds is related to the holding time. The shorter the holding time, the higher the handling fee. The handling fee in our country within 7 days is almost 1.5%.
What is T+ 1:
T+ 1 is a stock trading system, that is, stocks bought on the same day cannot be sold until the next trading day. "T" refers to the transaction registration date, and "T+ 1" refers to the day after the registration date.
In China, the Shanghai Stock Exchange and Shenzhen Stock Exchange adopt the trading mode of "T+ 1" for stock and fund trading banks, while the China stock market adopts the trading system of "T+ 1", and the stocks bought that day cannot be sold until the next trading day. T+ 1 is essentially a delivery method of securities trading, which is used for A shares, funds, bonds and repurchase transactions. It refers to the completion of the corresponding securities delivery and capital delivery on the next business day of the trading day (T+ 1) after a transaction is completed. A system established to protect the bloated body of bankers in stock trading. Another feature of this system is to stifle the flexibility of retail investors.
In other words, the stocks or funds bought by investors on the same day cannot be sold on the same day, but can only be sold after delivery and transfer the next day; Stocks or funds sold by investors on the same day will not be raised until the next day.
T+ 1 is essentially a delivery method of securities trading, which is used for A shares, funds, bonds and repurchase transactions. It refers to the completion of the corresponding securities delivery and capital delivery on the next business day of the trading day (T+ 1) after a transaction is completed.
Take A shares as an example. Suppose you bought 1 hand A shares on T day, but only registered the transaction on T day, then this 1 hand A shares have not been transferred to your account, so you can't sell them on T day. So on the day of "T+ 1", this hand of A shares has been transferred to your account, and you can choose to sell it.
China's T+ 1 system started from 1 995,65438+10,1,mainly to ensure the stability of the stock market and prevent excessive speculation, that is, the stocks bought on the same day will not be sold until the next trading day.
T+ 1 is rare in the world.