The conditions for the transaction price of the call auction who will be the boss Simple questions o

The collective pricing is sorted by the computer transaction processing system according to the principle of **priority and time priority, and on this basis, a benchmark is found so that it can meet the following 3 conditions at the same time: 1. The largest trading volume. 2 The **declaration above the benchmark** and the sell declaration below the benchmark** are all satisfied (filled).

3 One of the buyers and sellers with the same benchmark ** declares that all of them are satisfied (closing). The benchmark ** is determined as the transaction**, and the whole process of generating the transaction ** by the call auction method is completely programmed by the computer trading system, and the transaction ** generated after processing is displayed. It should be noted here that:

First, the principle of priority and time priority under the call auction method is reflected in the fact that the computer host will arrange all the ** and sell declarations from high to low, and the declaration principle under the same ** will be sorted according to the order accepted by the computer host; Second, in the process of call auction, if more than two applications meet the above three conditions, the Shanghai ** Exchange will make the smallest untraded volume for the transaction, and if there are still more than two applications with the smallest untraded volume that meet the above conditions, the middle price shall be the transaction price. The Shenzhen Stock Exchange takes the closest ** from the previous ** price as the transaction price.

The condition for the transaction price of the call auction to be traded: the transaction volume can be maximized by pressing this **. And all buy orders higher than this ** can be filled, and sell orders lower than this ** can be filled.

The first ** priority, the second time priority.

It is the weighted average of all the ** that satisfies the transaction during the call auction time, which is the final transaction price.

Call auction is not filled.

The call auction stage shows not the transaction price, but the maximum possible trading volume of all the orders received by you so far, as the follow-up orders continue to come in, this ** is constantly changing, and only when the final opening price is generated at 9:25, can the transaction be completed according to the opening price.

Overall, Call Auction.

During the period, there will be no transaction, and only at 9:25, when the call auction ends, will the transaction be generated and the opening price will be generated.

In the process of call bidding, the transaction is also made in accordance with the principle of "first-class priority, time first", if the application is the same, then whoever declares early first, who closes first. Declaring the size of the number of lots is not the principle of auction transactions.

The principle of determining the transaction at the time of the call auction** is roughly divided into three parts:

1. The maximum trading volume can be achieved.

Target**. 2. The **declaration higher than the ** and the sell declaration lower than the ** are all traded**.

3. At least one of the same buyers or sellers has completed the transaction in full.

If two or more bids meet the above conditions, the bid with the smallest untraded volume shall be considered a transaction; If there are still more than two applications that make the smallest untraded volume meet the above conditions, the median price is the transaction. All transactions in the call auction are filled with the same **.

Extended Information] July 1, 2006, Shenzhen-Shanghai ** Stock Exchange.

Implement an open call auction. That is, during the call auction, the call auction reference is revealed in real time. The open call auction will be held from 9:15 a.m. to 9:25 a.m. Deep Evidence.

From 14:57 to 15:00, the real-time display content includes ****, **abbreviation, pre-****, virtual opening reference**, virtual matching amount and virtual unmatched amount; Declarations can be received from 9:15 a.m. to 9:20 a.m., or withdrawn from 9:20 a.m., and declarations can be received from 9:20 a.m. to 9:25 a.m., but they cannot be withdrawn.

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, investors across the country are still continuously entering various valid trading orders into the Shanghai and Shenzhen stock exchanges.

The computer host, the computer host of the Shanghai and Shenzhen Stock Exchanges, is also continuously matching the continuous bidding of various valid buying and selling orders of shareholders across the country. Invalid orders will not be accepted by the host. As:****.

The price increase and decrease exceeds the limit, etc. (except for new shares listed on the same day). Specifically, the call auction is to gather several orders** or all orders** in a period of time, and generate a transaction ** according to the principle of not higher than the bid price and not lower than the bid price, and the largest number of transactions under this **, and this ** is used as a transaction ** of all transaction orders**.

Call auction is not filled.

The call auction stage shows not the transaction price, but the maximum possible trading volume of all the orders received by you so far, as the follow-up orders continue to come in, this ** is constantly changing, and only when the final opening price is generated at 9:25, can the transaction be completed according to the opening price.

OK. **There are call auctions and continuous auctions for transactions.

It should be noted that the auction stage usually refers to a "call auction", not a "continuous auction".

The call auction cannot be filled. Like the SSE.

The call auction time of the Shenzhen Stock Exchange is 10 minutes from 9:15 a.m. to 9:25 a.m. every day. And you can only wait until the end of the call auction at 9:25 to make a deal and generate the opening price.

The call auction process is also based on the principle of "first first, then time first" to queue up the buy and sell orders in turn, and according to the queue order, they are matched in turn. If the declaration is the same, then whoever declares first will be able to close the deal first.

As for the 10 minutes from 9:15 to 9:25, what is displayed is not the transaction price, because as the follow-up orders continue to come in, this ** is constantly changing. Only when the final opening price is generated at 9:25, the transaction will be made according to the opening price.

Extended information: 1. Call auction.

What is the meaning?

From 9:15 a.m. to 9:25 a.m. every trading day, let's learn about the call auction, and investors can buy and sell according to their own requirements.

Determining the opening price is the purpose of the call auction, which is the first to appear when the market opens, that is, the first at half past nine.

Adhering to the following 3 bidding rules is what is generally required for this **:

2) If the buyer and the seller have the same ** as this, at least one party has all the deals;

If a ** is 10 yuan, a ** is a yuan, there are 100 people who buy it for 10 yuan, there are 10,000 people who sell it for 10 yuan, and the number of people in both types of people who buy and sell it is 1,000 people, then 9 yuan 9 is the ** at the time of the opening.

Since ** is ten yuan, only 100 can be matched, ** yuan, then the number of transactions is 1000, if the transaction price is no difference, one of the buyers and sellers must be all without objection.

At this time, the ** orders higher than 9 yuan 9 will be traded, and among the sell orders, the ones below 9 yuan 9 will be traded.

After introducing the content of the call auction, what are the buying and selling skills during this time, let's analyze it together.

Call auction is not filled.

The call auction stage shows not the transaction price, but the maximum possible trading volume of all the orders received by you so far, as the follow-up orders continue to come in, this ** is constantly changing, and only when the final opening price is generated at 9:25, can the transaction be completed according to the opening price.

Call auction is not filled.

The call auction stage shows not the transaction price, but the maximum possible trading volume of all the orders received by you so far, as the follow-up orders continue to come in, this ** is constantly changing, and only when the final opening price is generated at 9:25, can the transaction be completed according to the opening price.

Call Auction.

It can be filled. The collective pricing is sorted by the transaction processing system according to the principle of "side and time priority" for all declarations, and on this basis, a benchmark is found, and three conditions need to be met, that is, volume.

Utmost; The **declaration higher than the benchmark ** and the sell declaration below the benchmark ** are all satisfied (transaction); One of the buyers and sellers with the same benchmark ** declares that all of them are satisfied (closing).

**Call auction means that when there is no transaction price on the same day, it can be based on the ** price of the previous day.

and for the current day.

During this period of time, all the ** input into the 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 **, which is called the price of call auction.

Until after 9:25, you can see the transactions and quantities of various call auctions on the company. Sometimes a certain ** cannot be completed because the ** given by the hidden bend person is lower than the ** given by the seller, then 9:

After 25 minutes, the column of the transaction price on the ** is empty.

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**. So today, I will use my personal experience for many years to analyze the **call bidding, the second paragraph is dry goods, collect it!

Before doing some simple learning to start, I would like to introduce you to an artifact gift package about **, which can be easily mastered if you don't understand**! One-stop solution to stock selection, trading and other problems, if you want to get it for free, click this link: the nine artifacts of super practical, recommended collection.

1. What does call auction mean?

From 9:15 a.m. to 9:25 a.m. on each trading day, you can call for bidding, and investors feel that they are suitable for themselves, and apply for buying and selling at will.

Only by conducting a call auction can the opening price be determined, which is the first time when the market opens at half past nine.

Generally speaking, the following 3 bidding rules, this ** must be complied with: (1) can be traded more with this **; (2) Either of the two parties with the same bid as this **, at least one of the parties has completed all the transactions; (3) The application to sell at a price lower than this price and the application to sell at a price higher than this price must be successfully traded at the end.

If there are two ** of 10 yuan and yuan respectively, there are 10,000 people who sell for 10 yuan, 100 people who hang 10 yuan to buy, and 1,000 people who buy and sell for yuan, then the ** at the opening is 9 yuan nine.

Since the ** of 10 yuan can only be matched into 100 transactions, there are 1,000 transactions in yuan, if the transaction price is the same, then one of the parties still has to meet.

However, at this time, all the orders with more than 9 yuan 9 in the ** order were filled, and all the sell orders below the yuan were filled.

Now that the matter of call auction has been said, let's find out what buying and selling skills are in this time period.

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

We need to know that the call auction time is divided into two periods, and the operation of each time period is different

First time slot 9:15-9:20:

You can declare or revoke, and there is a certain probability that the matching volume you see is false, because within these 5 minutes, the order that has been filled can be cancelled. There will be a large order in the first few minutes, which will make the stock price rise, but the time is around 9:20, and the big order will be cancelled again, and at this time, we will have no time to follow the order cancellation.

Therefore, we must only observe and keep our eyes open, so as not to fall into the trap of the main force.

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Hello, according to the "Shenzhen ** Exchange Trading Rules", during the call auction, the principle of determining the transaction price is:

1. The maximum trading volume can be achieved.

2) The declaration of ** higher than the ** and the sell declaration of the lower ** are all traded;

3) At least one of the same buyers or sellers has completed the transaction in full.

If two or more ** meet the above conditions, the transaction price shall be the smallest difference between the cumulative quantity of **declaration above ** and the cumulative quantity of selling declaration below **; If there is still a situation where the difference between the cumulative quantity of the purchase and sale declaration is still the same, the ** closest to the previous ** price displayed in real time will be taken as the transaction price at the opening call auction, and the ** closest to the latest transaction price at the time of the intraday and **call auction shall be the transaction price.

All transactions in the call auction are filled with the same **.