Investment Education

Time Period

Trading Rules

Enter Order

9:00-9:15

Auction market orders and Auction limit orders can be submitted

Orders can be modified and cancelled

Non-Cancellable

9:15-9:20

Only At-auction market orders and At-auction limit orders can be submitted

Orders cannot be withdrawn or modified

Random Match Period

9:20-9:22

Conduct matchmaking during auction period

Pause Period

Random Match Period Ends-9:30

At-auction order: Incomplete order will be cancelled by the system

At-auction limit order: If the input price range of an incomplete order does not deviate from the nominal price by nine times or more, it will be converted to a limit order and automatically transferred to the continuous trading session

Time Period

CST

Morning Market

9:30-12:00

Closed at Noon

12:00-13:00

Afternoon Market

13:00-16:00

Time Period

Trading Rules

Closing Auction Period

16:00-16:01      

Orders cannot be submitted

Calculate and publish reference price

Enter Order

16:01-16:06

At-auction market orders and Auction limit orders can be submitted.

Orders can be modified and cancelled.

*The price limit of auction limit orders shall not exceed ±5% of the reference price

Non-Cancellable

16:06-16:08

At-auction market orders and At-auction limit orders can be submitted

Orders cannot be cancelled or changed

*the input price of at-auction limit orders must be between the lowest selling price and the highest bidding price

Random Closing

16:08-16:10

At-auction market orders and At-auction limit orders can be submitted, Orders cannot be cancelled or changed

*the input price of auction limit orders must be between the lowest selling price and the highest bidding price