Trading and settlement mechanism

1. Trading mechanism

T+0 trading is also implemented in the pre-IPO market, and the allotted shares and the stocks purchased in the pre-IPO market can be sold in the pre-IPO market on the same day.

The electronic daily statement containing the pre-IPO market transaction details will be sent to the customer's email address on the next trading day (usually the listing date of the IPO) following the pre-IPO market trading date.

2. Settlement mechanism

Pre-IPO market transactions will be settled on the second trading day after the listing day, that is, L+2 settlement. If there is financing caused by pre-IPO market transactions, this part of the funds will accrue interest from L+2 onwards.

For example, the pre-IPO market of a new stock A takes place on June 25, 2018 (Monday), and it was officially listed on June 26, 2018 (Tuesday), and the settlement date and the interest start date for margin are June 28, 2018(Thursday).