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Transaction Type


(I) Principle of transaction application and report
Members send the authorization to the host computer of the exchange, which is known as "the application and report”. After the transaction system accepts the authorization from customers, it will deal with the application and report in line with the principle of "the priority of price and time”. After freezing corresponding amount of asset or fund, the member will send the authorization to the host computer of the exchange. The traded products enter the exchange to take part in the auction by the transaction channel of products members automatically, and the quoted transaction provides bidding organizations and selects the favorable price to close the deal automatically in the host computer of the exchange. The exchange allocates electronic transaction numbers according to the application and report, and every successful transaction is provided with an electronic transaction number. Investors may check the transaction record on the basis of the number, so that a fair, impartial and transparent transaction principle can be maintained.


(II) Way of transaction application and report
1. Application and report of tangible seat: 1. in particular cases, such as the disconnection of network, some member companies may adopt a tangible seat to apply for the transaction, in which case the company has to appoint a dealer to input the authorization instruction into the transaction system via the computer terminal after relevant staff handle the telephone authorization from customers, and the member company has to establish a dealing department on their own to publish the service telephone number for placing orders; 2. in case that the exchange provides tangible seats for members, after the information of the applicant is confirmed to be true and any record is made, the dealer of the exchange can place an order on behalf of the member and collect the charge for each transaction, but the exchange won’t deal with the authorization of customers of members.
2. Application and report of intangible seat: no dealing desk is applied into use in most cases, which means that transactions are applied for and reported by intangible seat. The member transaction system shall be synchronized and connected with the host computer of the transaction system of the exchange. After the authorization instruction of customers are checked and confirmed by the member system, it will be delivered to the host computer of the transaction system of the exchange automatically by the front terminal processor and communication network.


(III) Time of transaction application and report
As transaction products belong to different exchanges and the transaction details and trading hours of different places are also different, the time of application and report varies with the time of products transaction application and report of the exchange.