QMT Quantitative Trading Software: Convertible Bond Trading Guide

In QMT quantitative trading, convertible bonds are highly popular among algorithmic traders due to their intraday T+0 settlement feature—similar to that of underlying stocks—and low transaction costs (no stamp duty or transfer fee). Convertible bonds—short for convertible corporate bonds—are special corporate debt instruments that can be converted into the issuer’s common stock under specific conditions and within a designated timeframe. They combine features of both debt and equity options. When issuing such bonds, the issuer commits in the prospectus to allow bondholders to convert the bonds into common shares at a predetermined conversion price within a specified period; this conversion right constitutes an obligation of the issuer. Key advantages of convertible bonds include fixed income (unavailable with ordinary shares) and upside potential (not typically found in conventional bonds). I. Convertible Bond Trading Interface - Use the "Buy Panel" to place buy orders or initiate conversion-to-equity (conversion) requests. - Use the "Sell Panel" to place sell orders or submit put-back (put) requests. - In addition to standard stock buy/sell interfaces, the margin trading “Collateral Buy/Sell” interface also supports convertible bond trading, conversion, and put-back operations; further details on this interface will not be repeated below. II. Conversion to Equity - When entering the appropriate conversion code in the order entry panel, the quantity submitted per conversion request must not exceed the available balance of convertible bonds held. However, multiple conversion requests may be submitted on the same trading day; all conversions are aggregated and processed after market close. - If a bondholder submits a conversion request for a quantity exceeding their actual holdings, only the quantity actually held will be converted; the excess portion of the request will be automatically canceled.

AKShare – Bond Data – Convertible Bonds – Tick-by-Tick Market Data

All the following data can be retrieved using AKShare—a Python-based open-source financial data toolkit: ・Documentation: https://akshare.xyz ・GitHub Repository: https://github.com/akfamily/akshare Author’s Note A convertible bond is a debt instrument that allows bondholders to convert it into the issuer’s common stock at a pre-specified price upon issuance. If bondholders choose not to convert, they may continue holding the bond until maturity to receive principal and interest, or sell it in the secondary market. Alternatively, if bondholders anticipate appreciation in the issuer’s stock price, they may exercise the conversion right after the lock-up period expires and convert the bond into shares at the predetermined conversion price—the issuer cannot refuse. Convertible bonds typically carry lower coupon rates than conventional corporate bonds, enabling issuers to reduce financing costs. Additionally, bondholders enjoy the right to put the bond back to the issuer under certain conditions, while issuers retain the right to forcibly redeem the bond under specified circumstances. Updated Interface ・ "bond_zh_hs_cov_min" # Historical tick-by-tick market data Historical Tick-by-Tick Market Data Interface: bond_zh_hs_cov_min Target URL: quote.eastmoney.com/con... Description: East Money — Convertible Bonds — Tick-by-Tick Market Data Limitations: Returns tick-by-tick data for a specified convertible bond, frequency, adjustment type (e.g., adjusted/unadjusted), and time range. One-minute data covers only the most recent trading day and is provided unadjusted. Input Parameters Name Type Description Output Parameters — 1-Minute Data Name Type Description Interface Example — 1-Minute Data import akshare as ak bond_zh_hs_cov_min_df = ak.bond_zh_hs_cov_min(symbol="sz123124", period='1', adjust='', start_date="1979-09-01 09:32:00", end_date="2222-01-01 09:32:00") print(bond_zh_hs_cov_min_df) Sample Output — 1-Minute Data Time Open Close ... Volume Turnover Last 0 2021-11-02 09:30:00 120.000 120.000 ... 195 234000.0 120.0000 1 2021-11-02 09:31:00 119.980 119.889 ... 390 467090.0 119.8855

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