Futures refers to a futures contract for trading a certain commodity at some future time. Futures trading hours are: 9: 00 am-11:00, afternoon 13:30- 15:00, and afternoon 2 1:00- 00.
The minimum quotation unit refers to the minimum change unit of the declared price of securities transactions.
At present, the minimum change unit of the declared price of A shares and bonds in China stock market is 0.0 1 RMB; The fund is 0.0 1 RMB; B shares are 0.00 1 USD on Shanghai Stock Exchange and 0.0 1 HK$ on Shenzhen Stock Exchange; Securities repurchase is 0.005 yuan for Shanghai Stock Exchange and 0.0 1 yuan for Shenzhen Stock Exchange. Generally speaking, the bigger the minimum quotation unit, the bigger the bid-ask spread and the lower the market liquidity. The minimum quotation unit is too small, and with the decrease of bid-ask spread, the market depth (i.e. trading volume) may also decrease.
The minimum trading unit refers to the minimum reporting unit for buying and selling securities. At present, when buying stocks or funds in the domestic market, the declared number should be 100 shares or its integral multiple. The face value of the bonds is RMB 1000 yuan. Securities repurchase is 1000 yuan standard coupon or 1 hand comprehensive coupon. Bonds and bond repurchases are declared at 65,438+0 lots or integral multiples thereof, of which the bond repurchases of Shanghai Stock Exchange are declared at 65,438+000 lots or integral multiples thereof. Generally speaking, the minimum trading unit is too large, which means that the trading threshold is too high, and some small investors will not be able to enter the market, thus reducing the number of traders and reducing liquidity.
A shares are traded manually, 1 hand = 100 shares. The minimum starting point for buying stocks is 65,438+000 shares. If the quantity exceeds 65,438+0 lots, it must be an integer multiple of 65,438+0 lots, that is, 200 shares, 800 shares and 65,438+000 shares. The purchase of rights issue is not restricted by this regulation, but can be declared according to the actual number of rights issue, such as the purchase of 25 1 rights issue. Selling stocks is also not subject to this regulation. For example, an investor owns 1000 shares of Sichuan Changhong, which can be sold twice in 358 shares and 642 shares. The valuation unit of A shares is 1 share, while the basic unit of price fluctuation is 0.0 1 yuan. The B-share exchange 1000 shares is 1 trading unit, with USD as quotation and settlement currency, 1 share as pricing unit and USD 0.002 as minimum price change unit. Shenzhen Stock Exchange 100 shares are 1 trading unit, the quotation and settlement currency is Hong Kong dollars, the pricing unit is 1 share, and the minimum price change unit is 0.0 1 Hong Kong dollars. The trading unit is hand, 1 hand = 100 fund units, and its trading rules are the same as those of A shares. bond
On the hand side, 1 hand = 1 1,000 yuan. Regardless of buying or selling, the minimum amount of each transaction is 1 lot, that is, 1 yuan face value. If the quantity exceeds 1 lot, it must be an integer multiple of 1 lot, such as 2 lots and 5 lots. The valuation unit of bonds is 65,438+000 yuan, and the basic unit of price fluctuation is 0.065,438+0 yuan.