Basic principle of closing a deal: 1. The principle of price priority means that a higher buying declaration takes precedence over a lower buying declaration and a lower selling declaration takes precedence over a higher selling declaration. Declare at the same price, the first to declare is preferred. In addition to the above-mentioned priority principle, when computer terminals declare bidding and board bidding, market trading is given priority to restrict trading.
2. The principle of trading time priority refers to: oral bidding, arranged in the order heard by the intermediary broker; When the computer terminal declares the bid, it is arranged in the order of time accepted by the computer host; When bidding on the chessboard, arrange them in the order seen by the intermediary brokers. When the priority order cannot be distinguished, the intermediary broker will organize a lottery to decide.
3. The principle of deciding the transaction This principle refers to the fact that when bidding verbally, the price of the highest buying declaration and the lowest selling declaration is the same, which means the transaction is completed. When applying for bidding at a computer terminal, except as stipulated in the preceding paragraph, if the declared price of the buyer (seller) is higher (lower) than the declared price of the seller (buyer), the average intermediate price of the declared prices of both parties shall be adopted; If the buyer and the seller only declare the market price but not the unlimited price, the latest transaction price of the day or the price indicating the current price shall be adopted.
Once the transaction entrusted by investors is concluded, it is not allowed to go back on our word. Before the transaction is completed, you can also cancel the order, and the procedure of canceling the order is basically the same as the process of buying and selling entrustment.
Stock delivery refers to the process of paying money and currency after buying and selling stocks, that is, buyers and sellers realize one-handed payment and one-handed delivery through the settlement system. Investors must pay the required amount to receive the purchased shares after accepting the entrustment to buy securities and conduct transactions. Similarly, after an investor sells a stock and makes a deal, he must pay for the sold stock to get the price he deserves. China prohibits credit transactions, and investors must keep sufficient margin in the capital account when buying securities; When selling securities, there must be corresponding securities in the securities account.
Since 1992, the China stock market has implemented a "paperless system", and physical stocks are no longer circulating. The securities held by investors are reflected in the electronic data records of their securities accounts. Therefore, delivery is only the addition and subtraction of the securities data in the investor's securities account and the capital data in the capital account.
At present, A shares in China stock market adopt the "T+ 1" settlement system, that is, trading on the same day and delivery on the next day. Investors can print the delivery slip in the securities company on T+ 1 day and check their trading activities on T+0 day. If in doubt, you can also check with securities settlement companies and securities registration agencies.