Category: Money tips Release Date: 2007-02-06
Q: What is market value of reporting methods?
A: The market value approach is that investors entrusted to declare membership of the prevailing market price of trading in securities trading orders reporting technique, also known as the price is not specified to declare. Market returns can have a variety of forms, according to the declared exercise price can be divided into "full market value", "counterparty best price" and "this side best price" and other forms; according to commission the effectiveness of the execution time, but also can be divided into "real-time transaction surplus removed", "full deal or revocation" and "residual Save" and other forms.
Q: What are the benefits of market price reporting methods?
A: According to the existing trading business processes and technical architecture, investors buy and sell orders issued to the transaction reporting into the trading host will take some time, and the prices broadcast sampling, information transmission to the Quotes Quotes by software reveals the need for some time. Therefore, the transaction declarations match the host transaction processing market conditions and investor orders when reference to real-time Quotes are usually different. For the reporting limit, this difference does not affect Quotes information declared by the exercise price, but it may lead to timely report the transaction, investors may require withdrawals, re-commissioning operation.
Although we can not guarantee market returns to declare the implementation of price certainty, but to some extent, but the information can be avoided due to differences in Quotes inconvenience for investors to ensure the timely reporting transactions, helping improve market efficiency.
Q: At present, the Shenzhen Stock Exchange market value of reporting on what way?
A: The Shenzhen Stock Exchange a new "trading rules" and listed five kinds of market reporting, including the counterparty to declare the best price, best price this side to declare, optimal turnover of the remaining five stalls immediate revocation of a declaration to withdraw the remaining real-time transaction reporting and full - or revocation of declaration of the amount of turnover. Counterparty to declare them the best price and the best parties to declare the transaction price less efficient, the price uncertainty have a lower risk; while the best five-speed real-time revocation of declaration of the remaining transactions, real-time transaction reporting, as well as a full turnover of the remaining withdrawal or revocation of declaration of the transaction more efficient, but have a higher risk of price uncertainty.
In order to control risk, to avoid aggravating the market price fluctuations, SSE will step by step approach to provide the above five kinds of market returns, the first step the first to offer a lower risk of counterparty to declare the best prices and the parties to declare the best price.
Q: The counter-party to declare the best price What are the characteristics?
A: The counter-party to declare the best prices in order to focus on reporting into the trading host declaration book counterparty queue declared value for the best price. The implementation of the declaration of effectiveness, the counterparty to declare the equivalent of the optimal price Quotes information without taking into account differences in circumstances, using real-time market "to buy a" limit price as the selling price of a declaration or a real-time market "selling a" price As a buy limit order price reporting.
For example, without taking into account differences in the case Quotes of information, such as market conditions reveals the "G Wanke" and "buy a" price was 6.10 yuan, the number of 6000 shares, this time an investor the best price with the counterparty to declare delegate sell "G Wanke," 5,000 shares; the counterparty to the investors the best price reporting into the trading host, will be the counterparty the best price, that is, "buy a" price 6.10 yuan, as the declaration of selling price, and and the counterparty "to buy a" queue matching traded 5,000 shares. As shown below:
Q: The party report What are the characteristics best prices?
A: The parties to declare the best price in order to declare when the focus returns into the trading host side queue of this book the best price for declared value. The implementation of results for reporting purposes, the parties to declare the equivalent of the optimal price Quotes information without taking into account differences in circumstances, using real-time market "to buy a" price as a buy limit order price of a declaration or a real-time market "selling a" price As a sell limit order price reporting.
For example, without taking into account differences in the case Quotes of information, such as market conditions reveals the "G Wanke" and "buy a" price was 6.10 yuan, the number of 6000 shares, this time an investor the best price with the side to declare delegate buy "G Wanke," 5,000 shares; the investor the best price this side reporting into the trading host, will be the side best price, that is, "buy a" price 6.10 yuan, as the declared purchase price, and bought 5,000 shares of its declaration to retain in the trading host "buy one" in the queue waiting for pairing; by "time priority" principle, the original "buy one" in the queue to buy 6,000 shares than the returns of investors bought 5,000 shares declared priority. As shown below:
Q: The counter-party to declare the best prices and the parties to declare the best price What is the difference?
A: The counter-party to declare the best prices and the side best price difference between the declared transaction price of the host in dealing with the declaration of the two, given the differences in the specified price. Counterparty to declare the best price was given counterparty in the queue at the time the optimal price, and this side have been given the best price reported in this square in the queue at the time the optimal price. Therefore, the counterparty can guarantee the best price to declare to declare an immediate transaction, and this declaration can only be arranged side best prices in the side best prices in the queue is not guaranteed to declare an immediate transaction.
Q: The market price reporting methods What is the scope of application?
Answer: In order to control the market the way to declare the risk of price uncertainty, according to the new rules, investors can only be restricted in a decline in securities prices have gone up a continuous auction market during the reporting methods used.
Q: Which securities firms can provide market order means?
A: The new rules to use market value of securities companies and investors entrusted do not have qualifications, but because of market order and limit order on the technical systems, they are not the same, so the securities trading rules in the new company must be completed before the formal implementation of its own technical the system changes, and tested successfully in order to provide investors with a market order means. Changes did not complete the system of securities companies, you can not provide investors with market their commissioning services.
Q: Investors use market order when the attention should be paid what?
A: Although the market order is flexible and efficient, but because of market order and limit order difference between the familiar large, investors before use need to be fully informed of the new trading rules in the specific provisions; and once using market order, investors will not be able control the transaction price, the final transaction price will be market-determined, there is uncertainty. Quotes volatile, particularly in cases where sale prices particularly uncertain. Therefore, investors should give full attention to the way the risk of market order to avoid unnecessary losses.
