What is a bidding transaction?

Bidding transaction refers to: under the organization of the trading market, through the spot trading bidding trading system of the trading market, buyers and sellers disclose the main characteristics of products, such as brand, specification, model, delivery address, delivery time, total amount, cost price and other information, and the other party independently quotes or reduces the price, and trades at the highest purchase price or the lowest sales price within the specified time period according to the standard of "price priority", and signs the purchase and sale contract of electronic products through the trading market, which is executed as agreed.

Closing principle of bidding transaction

1, the principle of price priority when closing a transaction. Buying statement: the higher price is preferred; Selling statement: the lower the price, the better. The application price is higher than the lowest selling price immediately displayed, and the transaction is made at the lowest application price; If the bid is lower than the highest bid, the transaction is made at the highest bid. If these two commissions fail to complete the transaction, the rest will be left on the list, waiting for the next transaction.

2. The principle of closing time first. If the buying and selling direction is the same and the price is the same, the applicant who declares first has priority over the applicant who declares later. Determine the order according to the time when the trading host accepts the declaration.

When the computer announces the bidding price, the bidding transactions are arranged in the order accepted by the computer host. When the bid price is declared in written form, the bid transactions shall be arranged in the order in which the securities broker receives the written documents. China's stock exchange has two bidding methods: one is to adopt the call auction method before the daily opening; The other is to use continuous bidding trading during the trading hours after the opening.

Shanghai Stock Exchange and Shenzhen Stock Exchange are scheduled for 9: 0015 to 9: 25 a.m.. A lot of information about buying or selling a stock is input into the computer, but at this time the computer only accepts information and does not match. Five minutes before the official opening of the market (9: 25), the computer began to work. Ten seconds later, the computer sets the price, generates the opening price of the stock on the same day according to the first determined price with the largest turnover, and reflects it on the screen in time. This way is called call auction.