港股中的“增强限价盘”、“竞价限价盘”以及“特别限价盘”分别指的是什么?英文如何翻译?

港股中的“增强限价盘”、“竞价限价盘”以及“特别限价盘”分别指的是什么?英文如何翻译?

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它们都属于限价盘。限价盘是指当投资者设定一个限价盘时,投资者要指明价位。限价盘只会在指明或更好的价位执行买卖,但不保证能成功执行买卖。


竞价限价盘是指有指定价格的买卖盘。指定价格等同最终参考平衡价格或者比最终参考平衡价格更具竞争力的竞价限价盘(即指定价格等同或高于最终参考平衡价格的委买价,或指定价格等同或低于最终参考平衡价格的卖盘)或按最终参考平衡价格进行对盘。


竞价限价盘的英文可以用“At-auction Limit Order”来表示,其英文释义如下:

An At-auction Limit Order is an order with a specified price input during the Pre-opening Session. A Buy Order with a specified price higher than or equal to the final Indicative Equilibrium Price (IEP), or a Sell Order with a specified price lower than or equal to the final Indicative Equilibrium Price will be matched at the final Indicative Equilibrium Price. Any unfilled At-auction Limit Order in Pre-opening Session will be converted to Limit Order and carried forward to the Continuous Trading Session. If the order remains unfilled in the Continuous Trading Session and it is within the permissible price limit, it will be automatically carried forward from Continuous Trading Session to the Closing Auction Session. The system will treat all such orders as at-auction limit orders.


增强限价盘

增强限价盘指一个在持续交易时段输入系统有指定价格的买盘或沽盘,根据下列价格在该时段内进行自动配对。

对于买盘而言:1(一经系统接纳该买卖盘进行对盘)在该范围内,首先跟当时沽盘价配对,然后顺序跟下一个较高价格的沽盘配对,直至跟高于当时沽盘价四个价位或指定价格(取较低价者)的沽盘配对;2(若未能进行对盘或有余额未获配对)该买卖盘或该买卖盘的余额将被视为指定价格的限价盘;

对于沽盘而言:1 (一经系统接纳该买卖盘进行对盘)在该范围内,首先跟当时买盘价配对,然后顺序跟下一个较低价格的买盘配对,直至跟低于当时买盘价四个价位或指定价格(取较高价者)的买盘配对;2(若未能进行对盘或有余额未获配对)该买卖盘或该买卖盘的余额将被视为指定价格的限价盘。

增强限价盘的英文可以用“Enhanced Limit Order ”来表示,其英文释义如下:

ELO will allow matching of up to 10 price queues (i.e. the best price queue and up to the 10th queue at 9 spreads away) at a time provided that the matched price is equal to or better than the limit price. The sell order price of an ELO can be matched up to 9 spreads lower than the current bid price but not a price of 10 spreads (or more) below the current bid price. The buy order price can be matched up to 9 spreads higher than the current ask price but not a price of 10 spreads (or more) above the current ask price. Any unfilled quantity of the ELO after matching will be converted to a typical Limit Order at the limit price specified previously for further matching.


特别限价盘

特别限价盘时价格不会受对手价格所限,但必须输入限价。只要成交价不比输入的限价为差便可最多跟五条轮候队伍(即当时最佳价及相距四个价位的第五轮候名单)配对。未能成交余额会自动取消,不会保留在系统内。


特别限价盘的英文可以用“Special Limit Order ”来表示,其英文释义如下:

A special limit order has no restriction on the input price as long as the order input price is at or below the best bid price for a sell order or at or above the best ask price for a buy order.


以下为相关双语示例,供参考:


在开市前时段,系统只接受输入竞价盘及竞价限价盘。

During the Pre-opening Session and the Closing Auction Session, the system accepts at-auction and at-auction limit orders only.


在持续交易时段,系统只以限价盘、增强限价盘及特别限价盘进行买卖。买卖盘可选择附加『全数执行或立刻取消』指示,那么,要是不能同时全数完成有关买卖盘,便会取消整个买卖盘,不会保留在系统内。

During the Continuous Trading Session, the system accepts limit, enhanced limit and special limit orders only, with an option for an "All-or-Nothing Qualifier" that confines the order to be either executed immediately in full or rejected, without being written into the central order book.

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