What are the coding rules for convertible bonds in Shenzhen Stock Exchange?

At present, the coding rules of convertible bonds listed on Shenzhen Stock Exchange are "125xxx", "126xxx" and "128xxx", where "xxx" is the last three digits of the securities to be listed, and the short name of convertible bonds is "×× convertible bonds". Where "××" corresponds to the first two Chinese characters of listed securities, and the securities code of the first convertible bonds issued by the main board company is "125xxx", for example, the securities code of "Chenming Convertible Bonds" is "125488"; The code of the second-phase convertible bonds issued by the main board company is "126xxx", such as "Vanke Specialized No.2" and "Silk Specialized No.2" are "126002" and "126301"respectively; In addition, the securities code of convertible bonds issued by small and medium-sized board companies is "128xxx", for example, the securities code of "Tapai Convertible Bonds" is "128233".

1. Trading rules of Shenzhen convertible bonds: (1) (1) T+0 trading, that is, convertible bonds bought on the same day can be sold on the same day. There is no price limit, but there is a temporary suspension limit. If the fluctuation exceeds 20%, the pause time is 30 minutes; More than 30% of the games will be suspended until 14:57. During the period of suspension of business, you can accept the entrustment. (3) In terms of transaction quotation, the transaction price of Shenzhen convertible bonds is accurate to the decimal point. ⑶ The effective range of public bidding on the first day of listing is100 30%, and the effective range of continuous bidding is up and down the latest transaction price 10%. Beyond the scope of declaration, the commission can be retained.

2. Trading rules of convertible bonds: price, the theoretical value of convertible bonds is the sum of pure bond value and complex option value. The influencing factors mainly include the price of common stock, the price of convertible bonds, the scale of common stock and convertible bonds, the historical volatility of common stock, various options of word, the market with risk-free interest rate, the equal qualification of corporate bonds in yield to maturity and so on. The value of pure debt can be calculated by discounting the agreed future cash flow of convertible bonds. The value of complex options can be determined by quantitative methods such as binary tree and stochastic simulation, mainly the comprehensive value of redemption options, put options, correction options and conversion options. The relationship among theoretical value, pure debt value and convertible value of convertible bonds is that when the stock price falls, the price of convertible bonds is close to the pure debt value, and when the stock price rises, the price of convertible bonds is close to the convertible value. The part where the price of convertible bonds is higher than the value of pure bonds is the market price of complex options contained in convertible bonds. The investment income of convertible bonds mainly includes coupon income, bid-ask spread income and quantitative arbitrage income.

3. Shenzhen stock market: investors pay commissions to securities companies, and the commission standard is 2% of the total turnover. If the commission is less than that in 5 yuan, it will be charged in 5 yuan.