What does a call auction mean, and what does it mean

Call auction means that before the opening of the day, you can enter all the orders of the computer host according to the previous day's ** and the ** of the current day, enter all the orders of the computer host in the call auction time, and calculate the maximum trading volume according to the principle of **priority and time priority**, this ** will be the transaction of the call auction**, and this process is called call auction.

The call auction mainly generates the opening price, and then the ** has to carry out the continuous buying and selling stage, so there is a continuous auction. Unfilled orders in the call auction will continue to be valid and will automatically enter the continuous auction and wait for the appropriate price to be filled. At this time, shareholders across the country are still continuously inputting various valid trading orders into the computer host of the Shanghai and Shenzhen Stock Exchanges, and the computer host of the Shanghai and Shenzhen Stock Exchanges is also continuously matching various valid trading orders of shareholders across the country into continuous bidding.

Invalid orders will not be accepted by the host.

The so-called call auction is that when there is no transaction price on the day, you can enter the price according to the previous day's **price and the ** of the day, and during this period of time, all the ** input computer host are equal, and there is no need to trade according to the principle of time priority and **priority, but according to the principle of maximum trading volume to determine the price of **, this price is called the price of the call auction, and this process is called call auction.

**Call Auction & Tips:

1. From 9:15 to 9:20, the five-minute open call auction can be entrusted with buy and sell orders, and the matching volume seen may be false, because these 5 minutes can be canceled, and many main forces cancel orders around 9:19:30.

2. From 9:20 to 9:25, the five-minute open call auction can lose the order of buying and selling, but the order cannot be cancelled.

The entrustment seen in these five minutes is real, so if you want to grab the price limit, you must look at these five minutes, but you don't know which ** will be the price limit in these five minutes.

Three, 9:25--9:30 these five minutes are not called call auction time, the computer can receive buy and sell orders in these five minutes, can also receive the cancellation of orders, these five minutes of the computer does not process, if the commission into the ** is estimated to be able to trade, then the cancellation is too late to rank behind, for the master, these five minutes for ** must be used, such as the call auction after selling**, the funds are at 9:

Available at 25, you can buy another one at 9:26.

Fourth, the opening price generated at 9:25 is determined according to the principle of maximizing trading volume, and Shenzhen ** is **14:57--15:

00 is the ** call auction time, these 3 minutes can not cancel the order, can only enter the buy and sell orders, so the Shenzhen ** price is also obtained by the call auction, and the last one seen in Shanghai is only **, the number of shares is 0, this is because Shanghai **** is calculated according to the weighted average price of the last 1 minute backwards, not the call auction.

These can be slowly comprehended in the future operation, in order to improve their own experience, novices can use a treasure simulation to learn the knowledge and operation skills in the early stage, which will be helpful to the future profits. I hope it can help you, and I wish you a happy investment!

A call auction means that all trades will be filled with the same **. The call auction consists of four steps: confirming a valid order, calculating the transaction price, matching a transaction, and closing the actual call auction.

Call auction refers to a one-time centralized auction method for the purchase and sale declarations received within a period of time.

1. Call Auction Rules

Taking China's bidding trading system as an example, the principle of determining the transaction at the time of call auction is:

1.Select the price with the largest trading volume within the effective ** range;

2.The buy declaration above the transaction ** and the sell declaration below the transaction ** are all filled;

3.At least one of the buyers, sellers, and sellers who are the same as the deal** are all closed.

2. Steps of Call Auction

The call auction consists of four steps: confirming a valid order, calculating the transaction price, matching a transaction, and closing the actual call auction.

1.Confirm a valid order

The highest limit price and the lowest limit price of the day are calculated according to the **previous trading day** price and the determined range of rise and fall. The effective range is all the price levels between the highest limit price and the lowest limit price. Orders whose limit price exceeds this range will be invalid and will be automatically cancelled by the system.

2.The computer automatically calculates the maximum volume level

First, select the price level that maximizes the volume of all orders within the valid ** range. If there are more than two such price levels, the transaction price will be selected according to the following rules.

3.Start matchmaking

Centrally match all buy and sell orders. All sell orders are arranged in order of order from low to high limit price, and those with the same limit price are arranged according to the time of entering the system. Pair the first buy order and sell order in order, that is, according to the transaction order of "**priority, equal **time priority", until the transaction conditions are not met, that is, there is no buy order with a limit price higher than or equal to the transaction price, or there is no sell order with a limit price lower than or equal to the transaction price.

All deals are filled at the same price.

4.The Call Auction ends

The call auction generates the first transaction price, which is the opening price of the day. The opening price will be sent to the host system of major companies or software vendors through the trading system of the Shanghai and Shenzhen stock exchanges, and the data generated by the call auction will be sent to the host system of the major ** companies or software vendors, and ** will begin to be revealed nationwide. At this point, 9:

30. The call auction ends and begins to enter the continuous auction.

There are many whites who were stunned when they heard the ** call bidding, and even were trapped at a high level because they blindly followed the trend and bought indiscriminately. Today, I will use my experience for so many years to help you analyze**Call Auction, the second paragraph is full of dry goods, and I am still waiting for everything to be collected!

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2. What are the trading skills during the call auction time?

There are two call auction periods, each with a different action:

First time slot 9:15-9:20:

You can declare or revoke, and the matching volume you see at this time is not necessarily real, because within these 5 minutes, the order that has been filled can be cancelled. In the first few minutes, if there are a lot of large orders, the number of orders will go higher, and all the big orders will be cancelled at around 9:20, and at this time, if we want to follow the cancellation, there is no time.

Therefore, everyone must learn to distinguish and not fall for the main force.

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The third time frame 9:25-9:30: 5 minutes before the opening of the market, only the declaration is accepted without any processing, and the order application for these 5 minutes is temporarily stored in the brokerage system, and it is only communicated to the exchange at 9:30 in the morning.

1.Assuming you have to **a**, declare it at its price limit, so that you can buy it in most cases.

2.In case you want to sell which **, you can use its price when you declare it, so that you can almost sell it.

However, the ** of its real transaction may not be the limit price or the limit price declared at that time, but the ** at that point in time at 9:25 is the official transaction price, which is also called the opening price.

Assuming that the opening price is regulated according to the up limit or the down limit**, there will be a possibility that you cannot buy or even sell.

First, the collection price is also in order to give priority to **, time and quantity. The bookmaker's order also enters the Shanghai or Shenzhen exchange system at 9:15, but his order is large, so he ranks first.

Orders placed from 9:15 to 9:25 have a chronological order and are prioritized by time.

Second, some ** companies can place orders in advance, but in fact, they all enter the exchange system at 9:15, and the pending orders at 9:15 minutes and 0 seconds the night before are entered into the exchange system at the same time, and the large number is traded first.

3. The order before 9:15 is only in the ** company and not reported to the exchange.

Fourth, the Huangpu stock school pointed out that the ** companies were connected to the exchange before 9:15, but the exchange began to accept pending orders at 9:15, at 9:15

15 At that moment and before the pending orders are counted at the same time, according to the ** priority, the quantity first. You can find the details of the call auction in the Huangpu Stock School, which is very comprehensive and free.

The opening price, also known as the opening price, refers to the first transaction per share after the opening of each trading day on an exchange. Most of the world's ** exchanges use the principle of maximum turnover to determine the opening price.

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The Shanghai Stock Exchange and the Shenzhen Stock Exchange are scheduled to be from 9:15 a.m. to 9:25 a.m., and a large number of information about buying or selling a certain ** is input into the computer, but at this time, the computer only accepts information and does not match information.

At the moment before the official opening of the market (9:27 9:30), the computer began to work, and the system matched the pricing, and the opening price of the day was generated according to the first determination of the largest trading volume, and was reflected on the screen in time, which is called call auction.

The call auction determines the transaction price as follows: 1. The system arranges all the most effective orders in the order of the order of the limit price from high to low, and those with the same limit price are arranged according to the time of entering the system; All valid sell orders are arranged in the order of the order of the order limit price from low to high, and those with the same limit price are arranged in the order of entering the system. 2. The system automatically determines the transaction price of the call auction according to the bidding rules, and all transactions are concluded on this basis; The principle of determining the transaction price of the call auction is that the maximum trading volume can be obtained by using this ** transaction.

3. The system will gradually match the first ** order and sell order in order, that is, in accordance with the order"**Priority, Equal** time priority"The order of executions is executed in order until it cannot be filled, that is, the limit price of all buy orders is lower than the limit price of sell orders. Unfilled orders are queued up for filling. After the call auction, new orders enter the system one by one, and the queued orders are matched by continuous bidding.