What are the trading rules for exchange traded funds

The rules of buying and selling in the market are the same as those of buying and selling, all of which are traded according to the market price, and the listed trading is five grades, all of which are involved in the trader's trading, and the selling price will be traded when the bid price is the same, and if you want to close the transaction immediately, you can press the sell 1**, if you can get to the place, you can make a deal, otherwise you can't make a deal.

The minimum purchase of 100 shares on the market,** or the one-way transaction rate for selling depends on the commission set by the broker, and there is no need for transfer fees, stamp duty and other fees.

Moreover, many brokerages have canceled the minimum commission limit of 5 yuan in the market, so the transaction cost is much lower than that of the first one. The market can be sold after the purchase t (trading day) + 1 working day, and the funds received after the sale can be used to buy again on the same day**and**, if you need to withdraw cash to the next day.

Trading rules: Same reporting rules as A sharesReporting method: E Exchange only accepts limit price declaration from members.

**Unit: The minimum change level of each ******: The minimum change unit of ** is the limit of RMB fluctuation:

The exchange also implements a limit on the rise and fall of ** trading, and the proportion of rise and fall is 10%.

Declaration restrictions: If there is a **price limit for trading**, the declaration within the **price limit is a valid declaration. Declarations that exceed the limit of price increases and decreases are invalid.

Entrusting unit: **or sell**, the number of declarations should be 100 or its integer multiples The upper limit of the declaration: **The maximum number of single declarations should be less than 1 million bidding rules:

Same as A-shares.

ETF** Trading Rules:

1. The ** shares subscribed on the same day can be sold on the same day, but cannot be redeemed.

2. The ** share of the current day can be redeemed on the same day, but cannot be sold.

3. The ** redeemed on the same day can be sold on the same day, but it cannot be used to subscribe for ** shares.

4. The ** on the same day can be used to subscribe for ** shares, but it cannot be sold.

Since ETFs are trading in a more open way, there are certain risks associated with buying and selling ETFs, and investors with no market experience need to be cautious about buying and selling.

ETFs don't have a top-up or bottom-up discount, so you can rest assured. Grade B is the highest risk among all the ** products, the most complex game rules, not suitable for ordinary investors to participate, the trading method is real-time intraday trading, although there are arbitrage trading models, but the two are very different.

**Under different sales channels, the relevant handling fees are also different, and it is best to choose a transaction method with a lower rate, so do you know how much the transaction fee is in the market? What is the difference between on-field and off-field?

Floor Trading:

The floor trading price is real-time, that is, the ** you bought at that time is how much is how much, and the ** transaction is the same reason. Like the over-the-counter subscription, the on-site purchase can also be dividends, but there is a difference, the ** dividend purchased on the market can only be cash dividends, and cannot be reinvested in dividends, while off-site dividends can be reinvested. It can be redeemed, purchased on the market, or redeemed on the market, and the redemption is based on the net value of the day announced by the company after the market closes**.

**(** method) is different from subscription (** method), selling and redeeming.

Advantages of Floor Trading:

First, the transaction fee is low, and the entry and exit fees are only, which is much cheaper than that of banks and online direct sales; Second, the funds arrive quickly (available on T day, T +1 is desirable), and the time cost and opportunity cost are more advantageous; Third, the transaction method is flexible and convenient, you can trade in the business department of the company, and you can use the network to operate at home or in the office; Fourth, it is more conducive to band operation: seize opportunities in time and quickly avoid risks.

Calculation of rates for on-site and off-site:

1) Field**: In fact, it is **transaction, and the rate is generally waiting, with a minimum of 5 yuan for a single transaction.

Calculation formula: Assuming that the total fixed investment amount is A, and the single fixed investment is B, the current rate is generally 10,000 3, because the single fixed investment amount is generally less than 10,000 yuan, so the minimum 5 yuan is calculated. ）

The investment fee is: a b*5

2) OTC**: Now all platforms basically have the problem of 1% off the rate, which is about 1,000 and the redemption fee is thousand, and the redemption fee is free for more than two years.

Calculation formula: Assuming that the total investment amount is A, and the single investment is B, ignoring the problem of no redemption fee, the investment fee is: A*

Based on the above two points, the preliminary estimate is that when b》=, it is cost-effective to purchase the ** rate in the market.

In fact, considering the initial investment, there is a problem of no redemption fee for more than two years, and when the fixed investment amount is less than 1,500 yuan, it is more cost-effective to purchase over-the-counter ** in terms of rate. Instead of buying the market ** is the cheapest as some authors say.

The rules of buying and selling in the market are the same as those of buying and selling, all of which are traded according to the market price, and the listed buying and selling are all involved in the trader's trading, and the bid price is the same. The minimum purchase rate for 100 shares on the exchange,** or sell one-way transaction is generally 100 shares. Sold on the market** after purchase t (trading day) + 1 business day.

Hello, the trading rules of the on-site grading**: After the sub-shares of the graded ** are listed on the Shenzhen Stock Exchange, investors can buy and sell ** shares during the trading hours of the Shenzhen Stock Exchange and trade them at the matching price of the trading system; The number of declarations shall be 100 or their integer multiples, and the minimum change unit of the application shall be RMB; The Shenzhen Stock Exchange implements a limit on the rise and fall of ** transactions, with a rise and fall ratio of 10%, which will be implemented from the first day of listing; The graded shares of the same day can only be sold the next day.

It is worth noting that the parent shares of cross-border grading**, which are listed on the exchange and implemented same-day rotation trading.

1. The differences between on-exchange trading and over-the-counter trading are as follows:

1. Change the trading channels are different.

The on-site purchase is that after the company opens an account, the investor enters the balance bank through the company's trading software; Over-the-counter purchases** Investors are through bank counters, online banking.

Corporate counters and corporations.

** and other channels.

2. The transaction object is different.

The on-site ** cannot be automatically fixed investment, cannot be converted, and the **LOF** and ETF** that can be purchased are LOF** and ETF**.

and enclosed**; All open plans are available for purchase off-site**.

Including LOF** and some ETF**, and most OTC** can be used for regular investment and conversion.

3. Transaction rates are different.

The on-exchange** or sell one-way transaction fee is generally only; The over-the-counter subscription rate is generally the redemption rate.

4. The trading rules are different.

Sold on the market** after purchase t (trading day) + 1 business day. OTC** Fees charged for selling within 7 days after subscription.

5. The transaction ** is different.

The on-site purchase is carried out according to the transaction method, according to the supply and demand relationship, the transaction is matched at a timely price, and the different trading hours of the trading day are not checked; OTC subscription is traded with the net value of the day as the **, and there is only one price per day.

6. Different ways of dividends.

2. The only way to pay dividends for on-site purchases** is cash dividends; There are two types of dividends: cash dividends and dividend reinvestment. There are two ways to handle open-ended ** subscription, subscription or redemption business. Floor Trading:

refers to the use of a Shanghai or Shenzhen** account.

**Account or closed-end account), through the **entrustment system. Over-the-counter (OTC) trading refers to the use of the company's open account through the open entrustment system, and the so-called over-the-counter transaction refers to not through the exchange.

In general, over-the-counter transactions refer to transactions through direct sales, banks, companies, and third-party sales platforms. The operation mode of OTC** is subscription or subscription and redemption. OTC** is not available for trading on exchanges.

Buying and selling**Subject to trading hours. The trading hours are the trading hours, from 9:30 a.m. to 3:00 p.m. every day.

**Trading is conducted on trading days, which are Monday to Friday excluding holidays, and trading hours are 9:30-11:30 a.m. and 1:00-3:00 p.m. Week.

6. Sundays and national holidays are "non-trading days" of **, so "non-trading days" are not traded.

Although you can trade 24/7 when you buy online**, it is only an appointment and will not be filled until the nearest trading time.

If you buy or redeem on a non-trading day, such as a weekend**, it will be postponed to the trading day, and you will not be able to confirm until the following Tuesday, and you will not be able to view the profit and loss until the following Wednesday.

If the subscription is made on the last trading day before the long holiday, the company will confirm the subscription after the long holiday, and the profit and loss cannot be viewed during the confirmation period.

Hello, the trading on the floor ** is similar to **, the trading day opens at 9:30 and opens at 15:00 in the afternoon**.

Generally, it is a T+1 trading system, that is, the same day can only be sold on the next trading day, and there are also some T+0 **, which can be bought on the same day and sold on the same day.

Generally, there is a 10% limit on the rise and fall, and the ** account can be traded.

1. The transaction partner is different. The exchange-traded are closed and listed open (LOPs and ETFs); The over-the-counter market is all open-ended**, including the corresponding index ** of LOP and ETF.

2. The transaction method is different from the formation of **. The market is carried out according to the ** trading method, according to the supply and demand relationship, at the timely matching price of the transaction, ** in different trading days of different trading hours are different; The over-the-counter is an unknown price, and the transaction is carried out with the net value as **, and there is only one price per day.

3. The discount premium is not the same. There is a general discount rate in the sealing base in the market, that is, the transaction price is lower than the net value, and there are arbitrage opportunities. There is no discount and premium problem in OTC transactions, which is equal to the net value.

4. The transaction channels are different. The market is to open an account on the ** exchange, and trade through the ** company trading software, and cannot make regular investment or conversion; Over-the-counter is through bank counters, online banking, **company counters, **company ** and other trading channels, you can make regular investment, you can do conversion.

5. Transaction costs are not the same. The incoming and outgoing costs of on-exchange transactions are generally as follows; The general subscription fee is 1-2% for over-the-counter subscription, and there are discounts for online direct sales, with a minimum subscription fee and redemption fee.

6. On-exchange transactions are timely, and over-the-counter transactions are on a daily basis.

According to the different trading venues, **can be divided into on-site** and off-site**, their main differences are: 1. Different trading channels. 2. The transaction object is different.

3. Transaction rates are different. 4. The arrival time is different. 5. The transaction ** is different.

6. Different ways of dividends.

What is the difference between on-exchange and over-the-counter trading.

The difference between on-site and off-site:

1. Different trading methods: Generally, on-exchange trading is on-exchange trading through the account class. The over-the-counter method is to subscribe through multiple channels such as banks, ** companies, ** companies, etc.

2. The trading object is different: the on-site transaction is a sealed base and a listed open base, and it cannot be fixed investment or conversion. OTC trading can not only make regular investments, make conversions, but also buy all open-ended**, including LOF** and some ETF**.

3. The transaction fee rate is different: the on-market ** or sell one-way transaction fee will not exceed the maximum, while the over-the-counter subscription fee rate is between, and the redemption rate is mostly .

4. Different transactions: The way of on-site trading is to trade according to **, according to the real-time trading of the market, and according to the time of the transaction, ** will also change. OTC trading is an unknown price, trading with the net value as the **, and the net value is updated once a day.

5. Different dividend methods: the dividend method of on-site purchase** is limited to cash dividends, while the dividend method of over-the-counter purchase** is divided into cash dividends and dividend reinvestment.

There are differences between on-exchange and over-the-counter in terms of trading venues, transaction rates, transactions, etc. In terms of trading, on-exchange transactions are real-time announcements, while off-exchange transactions are fixed.

The main differences include the following:

1. The trading venue is different.

Floor refers to the exchange that is bought and sold. There are more over-the-counter subscription and redemption channels, including banks, brokers, third-party wealth management platforms, etc.

2. Transaction fees.

Over-the-counter** subscription through a third-party wealth management platform is generally discounted, while the redemption fee is determined according to the holding time, and the shorter the holding time, the higher the redemption rate. The on-site and selling fees are implemented according to the commission rate signed between the customer and the broker, and whether the minimum 5 yuan limit for a single transaction is removed.

3. Transaction**.

On-exchange transactions are real-time announcements, while off-exchange transactions are fixed.

4. The threshold is different.

Compared with the minimum investment of 10 yuan in the over-the-counter, the threshold in the market is higher, and you need to start with one hand, and if you buy an ETF off-market, you need to start from 1 million.

5. Arrival time.

You can sell it on T+1 day after **** on the market, and the funds can be used after a successful transaction. OTC** can only be redeemed on T+2 days after subscription, and the time for funds to arrive is generally T+1 to 7 working days.

6. Dividend method.

The on-exchange** dividend method is only cash dividends, while the off-market ** distribution method can have cash dividends and dividend reinvestment.

This answer is provided by Compo Finance, which focuses on the interpretation of financial hot events, the popularization of financial knowledge, adheres to professionalism, pursues fun, makes financial content that people can understand, and conveys financial value in a vivid and diverse way. I hope you find this answer helpful.