Core Viewpoint - The article explains the trading rules during the special time period from 9:25 AM to 9:30 AM, emphasizing that orders placed during this time will not be executed immediately but will be temporarily held by the brokerage system until the continuous trading session begins at 9:30 AM [3][4][6]. Group 1: Trading Time Periods - The time from 9:25 AM to 9:30 AM is a transitional period where orders can be submitted but will not be executed immediately [3][4]. - The period from 9:15 AM to 9:25 AM is the actual auction phase where the opening price is determined based on collected orders [5]. - The 9:25 AM to 9:30 AM period serves two main purposes: allowing brokerage systems to receive new orders and organizing unexecuted orders from the auction phase [6][7]. Group 2: Conditions for Order Execution - The execution of orders placed between 9:25 AM and 9:30 AM depends on two main conditions: price matching and order sequence [8]. - For an order to be executed, the buy price must be equal to or greater than the sell price during the continuous trading session that starts at 9:30 AM [9]. - The order sequence is determined by the time the orders are placed; earlier orders will have priority in execution [11]. Group 3: Best Practices for New Investors - Investors should observe the opening price and trading volume after 9:25 AM to gauge market sentiment before placing orders [12]. - It is advisable to submit orders around 9:28 AM to secure a better position in the queue while allowing time to confirm order details [12]. - Understanding the nuances of this 5-minute period can enhance trading efficiency and foster a better awareness of market rules [12].

Group 1 - The opening price of styrene futures is determined through a call auction method, following the principles of "price priority" and "time priority" [1] - Price priority means that buy orders at higher prices and sell orders at lower prices take precedence over other price orders [1] - Time priority indicates that when orders have the same price, the orders submitted first are prioritized over those submitted later [1] Group 2 - The opening price determination process involves a call auction period set by the exchange before each trading day, typically a few minutes before the market opens [2] - This call auction period consists of two phases: the input phase for submitting buy and sell orders, and the matching phase where orders are matched to determine the opening price [2] - During the input phase, traders submit their buy and sell orders with specified prices and quantities based on their predictions and trading strategies [2]

Group 1 - The core concept of stock bidding is to determine the transaction price through the submission of orders by buyers and sellers, which are matched by the exchange system according to specific rules [2][8] - The A-share bidding mechanism consists of two types: collective bidding and continuous bidding, with the former determining the opening and closing prices and the latter being the price formation method during normal trading [2][4] Group 2 - The opening collective bidding phase occurs from 9:15 to 9:25, divided into two stages: 9:15-9:20 where orders can be withdrawn, and 9:20-9:25 where orders cannot be withdrawn [4][5][14] - The core rule for determining the opening price is based on maximizing transaction volume, where the price that allows for the highest volume of transactions is selected [8][14] Group 3 - The transaction order follows the principles of price priority and time priority, meaning higher-priced buy orders and lower-priced sell orders are executed first, and among orders with the same price, the earlier submitted orders are executed first [9][14] - Continuous bidding allows for real-time pricing and immediate transactions, with stock prices fluctuating with each transaction [10] Group 4 - Key signals for new investors include observing the relationship between the opening price and the previous closing price to gauge market sentiment, monitoring transaction volume during the bidding phase to assess capital interest, and being cautious of price fluctuations during the initial bidding phase to avoid being misled by market manipulation [10][11][12]